Anexinet Continues Growth Under New Ownership (Press Release)

Anexinet Continues Growth Under New Ownership

Mill Point Capital Accelerates Anexinet’s Momentum in Helping Clients Provide a Complete Digital Experience Email Print Friendly Share June 25, 2019 07:00 ET | Source: Anexinet Corporation

BLUE BELL, Pa., June 25, 2019 (GLOBE NEWSWIRE) — Anexinet, a leading provider of digital business solutions, announced that it has been acquired by Mill Point Capital, a middle-market private equity firm focused on control-oriented investments in North America. The Mill Point team has extensive experience investing in transactions in the technology and business services sectors.

Anexinet’s management team, including CEO Todd Pittman, will continue to lead the company, building on a strong track record of multi-channel application strategy and development, enterprise mobility, and full-lifecycle cloud/hybrid IT infrastructure support. Anexinet is a leading technology consultancy and reseller, helping clients provide a Complete Digital Experience for employees, customers, and end users through transformative digital applications and platforms. For 20 years, Anexinet has delivered intelligent insights, customer engagement and enterprise modernization solutions that drive impactful business outcomes.

Todd Pittman, CEO of Anexinet, commented, “We are thrilled to be partnering with Mill Point given their experience and relationships within the IT solutions industry. I am very proud of what our team has been able to accomplish and look forward to building on the momentum we have created over the past few years.”

Michael Duran, Managing Partner at Mill Point, commented that, “We are very excited to welcome Anexinet to the Mill Point family. Anexinet has grown into a leading specialized reseller in the IT marketplace under the leadership of Todd Pittman and his dedicated and skilled management team. We look forward to working with Todd and his team to further enhance Anexinet’s product and services capabilities.”

About Anexinet Corp. Everyone deserves a great digital experience. Anexinet customers benefit from our holistic approach—from engaging front-end interactions to dependable back-end solutions, all informed by data-driven insights. Because truly great digital experiences rely on the smooth operation of all interconnected elements: beautiful front-end applications, modern distributed architecture, private/public cloud, Dev/Ops and Agile/SAFE processes, and data-driven insights. We call this the Complete Digital Experience. Some companies focus on application design. Others handle your infrastructure. And then there’s Anexinet. For more information, please visit www.anexinet.com.

About Mill Point Capital Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the business services and industrial sectors. The firm works with Executive Partners to leverage its investment professionals’ experience, while providing strategic and operational guidance designed to drive long-term value creation in its portfolio companies. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com. For more information, contact: Betsey Rogers Public Relations BridgeView Marketing 603-821-0809 betsey@bridgeviewmarketing.com Related Articles More articles issued by Anexinet Corporation More articles related to: Company Announcement Profile Anexinet Corporation Subscribe via RSS Subscribe via ATOM Javascript Blue Bell, Pennsylvania, UNITED STATES Media Files Anexinet logo.png Logo Download Options Anexinet logo.png LOGO URL | Copy the link below http://www.globenewswire.com/attachment-download-view/1873537/610503/4/1/0/610503.png Newswire Distribution Network & Management Home Newsroom RSS Feeds Legal About Us GlobeNewswire is one of the world’s largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public. © 2019 GlobeNewswire, Inc. All Rights Reserved.

LLR Partners-backed Phreesia files for $125 million IPO

Tom Paine

New York-based Phreesia, which uses a tabloid device to collect information from intake patients, eliminating the waste and lost information caused by hated paper forms, filed last week for an IPO pigeonholed at $125 million.

Philadelphia-based LLR Partner led a $30 million PE round in 2014. Phreesia has raised $92.6 million to date.

I’ll give a limited user endorsement because I’ve used the product in real life, not in a lab situation. For me, filling out the usual first-time patient info form is usually a nightmare because my handwriting is not very fine. Phreesia makes the process a breeze, and handles payment also. Since I used it a couple of years back, I believe Phreesia added connectivity, which greatly increases its potential for other applications.

I say a limited endorsement because I know there are competitors out there and I don’t know how they stack up versus Phreesia..

For the Fiscal Years 2018 and 2019, Phreesia revenue was $79.8 million and $99.9 million, against net losses of $18.2 million and  $15.1 million.

LLR has a 23.85% pre-IPO stake.

It’s product is long overdue.

SCTE celebrates 50th anniversary at its Exton office

Tom Paine

The Society of Cable Telecommunications Engineers (SCTE), based in Exton, celebrated its 50th anniversary on Thursday. The SCTE, which calls itself “the largest applied science organization in the cable telecommunications industry “, has had a fulltime office presence in the western Philadelphia suburbs since 1977.

SCTE is an Emmy Award-winning group that develops standards, educational resources and other programs for use by major cable operators worldwide. It has 20,000 members and 126 employees, per LinkedIn.

A simple celebration was held on Thursday at the Exton office, featuring a cake.

EY Announces Winners for the Entrepreneur Of The Year® 2019 Greater Philadelphia Award

EY Announces Winners for the Entrepreneur Of The Year® 2019 Greater Philadelphia Award

EY builds on three decades of honoring unstoppable entrepreneurs in Greater Philadelphia

EY Logo

NEWS PROVIDED BYEY 

Jun 20, 2019, 11:04 ET

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PHILADELPHIA, June 20, 2019 /PRNewswire/ — EY is pleased to announce the winners of the Entrepreneur Of The Year®Award in Greater Philadelphia. This group of unstoppable entrepreneurial leaders transforming our world was selected by an independent judging panel made up of previous award winners, leading CEOs, investors and other regional business leaders. The winners were unveiled at a special gala on June 19 at Kimmel Center for Performing Arts in Philadelphia.

“There are many successful entrepreneurs in this world, but to build something truly remarkable, you can’t let anything stand in your way,” said Debra von Storch, EY Americas Entrepreneur Of The Year Program Director. “EY is proud to honor the 2019 Entrepreneur Of The Year winners who are inspiring innovation without limitation and fueling growth and prosperity by being truly unstoppable.”

The winners for the Entrepreneur Of The Year 2019 Greater Philadelphia Award include:

Christopher Franklin – Aqua America
Norman Hullinger – Broder Bros., Co.
Thaddeus J. Bartkowski III – Catalyst Outdoor
J.B. Reilly – City Center Investment Corporation
Steve Kelly – ELAP Services 
Stanley Middleman – Freedom Mortgage Corporation 
Gene Schriver – GLOBO
Geoff Gross – Medical Guardian
Jonathan Morgan – Morgan Properties
Richard Mahler – Revolutionary Security LLC
Joseph Mirabile – USSC Group
Dr. Christopher Burns, Dr. Daniel Pevear, Dr. Luigi Xerri – VenatoRx Pharmaceuticals, Inc.

In addition to recognizing the regional award winners, Michael Pearson, Chief Executive Officer of Union Packaging, was presented with the Social award for his lifelong commitment to community stewardship and fostering diversity in business.

Since its founding in 1986, the program has expanded to recognize business leaders in more than 145 cities in more than 60 countries throughout the world. 

Regional award winners are now eligible for consideration for the Entrepreneur Of The Year National Awards.  Award winners in several national categories, as well as the Entrepreneur Of The Year National Overall Award winner, will be announced at the Entrepreneur Of The Year National Awards gala in Palm Springs, California, on November 16, 2019. The awards are the culminating event of the Strategic Growth Forum®, the nation’s most prestigious gathering of high-growth, market-leading companies. The Entrepreneur Of The Year National Overall Award winner then moves on to compete for the EY World Entrepreneur Of The Year™ Award in Monaco in June 2019.  

Sponsors

Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are nationally sponsored by SAP America and the Ewing Marion Kauffman Foundation.

In Greater Philadelphia, sponsors also include PNC Bank, Donnelley Financial Solutions, Murray Devine & Company, SolomonEdwards Group, Ballard Spahr LLP, Morgan, Lewis & Bockius LLP, Pepper Hamilton LLP and Simkiss & Block.

About Entrepreneur Of The Year®
Entrepreneur Of The Year®, founded by EY, is the world’s most prestigious business awards program for entrepreneurs. The program makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global awards program of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in more than 60 countries. ey.com/eoy

About EY’s Growth Markets Network
EY’s worldwide Growth Markets Network is dedicated to serving the changing needs of high-growth companies. For more than 30 years, we’ve helped many of the world’s most dynamic and ambitious companies grow into market leaders. Whether working with international mid-cap companies or early stage, venture-backed businesses, our professionals draw upon their extensive experience, insight and global resources to help your business succeed. For more information, please visit us at ey.com/gm or follow news on Twitter @EY_Growth.

About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation is available via ey.com/privacy. For more information about our organization, please visit ey.com.

This news release has been issued by Ernst & Young LLP, a member of the global EY organization that provides services to clients in the US.

For more information, please visit ey.com.

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EY Announces Winners for the Entrepreneur Of The Year® 2019 Greater Philadelphia Award

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Jun 20, 2019, 11:04 ET

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Introducing Signant Health [Formerly CRF Bracket] and the Industry’s Most Comprehensive Patient-Centric Suite for Clinical Research (Press Release)

New brand focused on essential, patient-centered technology to simplify global drug development


NEWS PROVIDED BYSignant Health 

Jun 10, 2019, 09:00 ET

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LONDON and PHILADELPHIA, June 10, 2019 /PRNewswire/ — CRF Bracket, formed by the 2018 merger of CRF Health and Bracket, today launched as Signant Health (signanthealth.com). Uniting eCOA, eConsent, Patient Engagement, IRT, Clinical Supplies and Endpoint Quality into the industry’s most comprehensive patient-centric suite, Signant makes it easier to participate in – and sites and study teams to run – clinical trials. This intense focus on the patient experience, deep therapeutic area expertise and global operational scale enable sponsors and CROs to extend the reach of drug development, expand patient opportunities and improve data quality.

“The best technology in clinical research succeeds in the background,” said Mike Nolte, CEO of Signant Health. “We work to be expert, with proven solutions and scientific support that simplify research for patients, sponsors and CROs. I’m humbled to be a part of our customers’ important work, proud of the Signant Health team and excited to continue to innovate along every step of the patient journey.”

Signant Health combines a comprehensive, united suite of proven technologies with expert developers, project managers, data analysts, scientists and clinicians. That team is dedicated to help customers bring life-changing therapies to our families and communities around the world.

“The new Signant brand reflects our desire to help separate signal from noise at the intersection of science and technology and to never forget that our customers’ significant work matters locally and globally,” added Nolte. “In 2018, CRF Health and Bracket brought together industry-leading technology and analytics solutions, renowned executive and scientific leaders, and 20 years of experience delivering exemplary service to life science companies worldwide. The birth of Signant Health marks the next phase in our journey and unlocks extraordinary opportunities to improve the patient’s journey as well.”

As part of the name change, the company will launch its new identity online from 10 June 2019. The Signant Health experience will be fully rolled out publicly at DIA’s Global Annual Meeting (DIA 2019).

To learn more about Signant Health’s solutions for eCOA, eConsent, Patient Engagement, IRT, Clinical Supply Management, and Endpoint Quality scientific and data support services, visit signanthealth.com

About Signant Health

The best technology succeeds in the background. Signant Health provides solutions that simplify every step of the patient journey to make it easier for people to participate in, and for sites and study teams to run, clinical trials. Signant unites eCOA, eConsent, Patient Engagement, IRT, Clinical Supplies and Endpoint Quality into the industry’s most comprehensive patient-centric suite – an evolution built on more than 20 years of proven clinical research technology. Our intense focus on the patient experience, deep therapeutic area expertise and global operational scale enable hundreds of sponsors and CROs (including all Top 20 pharma) to extend the reach of drug development, expand patient opportunities and improve data quality – helping them bring life-changing therapies to our families and communities around the world. Take a significant step toward patient-centricity at signanthealth.com.

CRF Health and Bracket are now Signant Health.

Contact: media@signanthealth.com


NEWS PROVIDED BYSignant Health 

Jun 10, 2019, 09:00 ET

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PhillyTech People News 6/20

USA Technologies, Inc. Appoints Matthew W. McConnell as Chief Operating Officer https://t.co/d1G1DCee3k via @YahooFinanceJune 21, 2019

✨Some personal news⚡️

SO excited to share I am joining the @FirstRound team!!! 🎉

As a native Bay Arean, I’ve been a fan for years. 🥰 I’ll be working on special projects that focus on how we activate investors, founders, and operators in a thoughtful + highly impactful way.— Girl Alex (@grlalx) May 13, 2019

SocketLabs Names New Chief Revenue Officer to Drive Next Wave of Growth in Email Delivery Market | Business Wire https://t.co/a71n91NOHNJune 21, 2019

Jefferson College of Population Health names first entrepreneur-in-residence https://t.co/9OsC3ap0fT via @PHLBizJournal
June 13, 2019

Comcast Gatekeeper Gaiski Exiting https://t.co/JQccMdHiwE #nichepubs #feedly
June 13, 2019

Walmart eliminates Jet president role as it further integrates e-commerce business https://t.co/kVs9EcAUESJune 21, 2019

Walmart appoints new head for its startup incubator Store No. 8 https://t.co/5v1XyPehcaJune 21, 2019

Ben Franklin NEP Promotes Wayne Barz to Chief Investment Officer (Press Release) http://bit.ly/2HWRorc 

Vawdrey takes helm as CDIO at Geisinger Health System https://t.co/fwSNnuA0sb— Tom Paine (@phillytechnews) June 21, 2019

SDI Welcomes Kelley Ferguson to Business Development Team https://t.co/QYQ7I1pkxC via @PRWeb— Tom Paine (@phillytechnews) June 22, 2019

Clinical Trial data leader Medidata, with Conshy office, to be acquired by Dassault for $5.8 billion

It really flies

Tom Paine

Medidata, which calls itself a Unified Life Science Platform, agreed yesterday to be acquired by French technology company Dassault for $5.8 billion in cash, 2% less than its closing price the preceding Friday.

New York-based Medidata, founded in 1999 and specializing in data and processes related to clinical trials, has an office in Conshohocken dating from an acquisition with some 100 employees, per LinkedIn. There is stepped up competition as larger participants enter the market. Medidata revenue increased 17% last year to $635.7 million while it reported net income of $51.9 million.

Other larger entrants in the market include Oracle, Veeva Systems, CRF Bracket (just renamed Signant Health), BioClinica, and IQVIA , the result of the merger between IMS Health and Quintiles.

Dassault had revenue of $3.5 billion euros in 2018. It acquired Quintiq, a supply chain software provider based in Radnor and the Netherlands, for $336 milion in 2014. Rumors about Dassault’s interest in Medidata date back to at least April.

..

Veeva Soars on Earnings Release

Veeva Soars on Earnings Release

Tom Paine

  California-based Veeva Systems (NYSE: VEEV), the Life Sciences Cloud company with east coast operations based in Radnor, announced 1st quarter 2020 results on May 29 . it was a blowout quarter in which revenue reached a billion dollar annual run rate at $245 million, up 25% year over year. First quarter operating income was $71.2 million, compared to $44.0 million one year ago, an increase of 62% year-over-year. Net Income grew 66% year-over-year.

Veeva also has offices in Fort Washington and Princeton. 

Veeva highlighted the continued success of ongoing product development, including the release of Veeva Andi, an AI application that delivers
insights and suggestions from within Veeva CRM, and the adoption of its relatively new Veeva Vault CDMS offering by a Top Twenty Pharma. Also, Veeva recently introduced Veeva Claims, for non-pharma clients to help them with end-to-end claims management.

Veeva raised its revenue guidance for FY2020 to revenues between $1,045 and $1,050 million, a $20 million upward adjustment. Its shares broke through to a new high after the earnings release and now trade at $162.20, giving Veeva a market value of just under $24 billion, and a remarkable price to sales (not price to earnings) ratio of 24.

The intense pressure resulting from being a “momentum stock” now plagues Veeva, a nice problem to have. Investor expectations become more and more demanding, and even a slight negative surprise could cause a dramatic decline in the share price

Ben Franklin NEP Promotes Wayne Barz to Chief Investment Officer (Press Release)

Ben Franklin Promotes Wayne Barz to Chief Investment Officer

The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) has announced the promotion of Wayne K. Barz to Chief Investment Officer. Barz has served as Ben Franklin’s Manager of Entrepreneurial Services since 2000, having overseen the expansion of Ben Franklin’s incubator facilities from 18,000 square feet to 129,000 square feet.

In his new role as Chief Investment Officer, Barz will direct Ben Franklin’s Enterprise Development group, which has the primary responsibility for identifying early-stage firm and established manufacturer client investment and support opportunities, and managing relationships with each client. The group also executes on Ben Franklin’s mission to continue improving the region’s business-technology infrastructure by catalyzing business incubation, university and college centers of excellence, and angel investor networks, among other initiatives.

The Enterprise Development group is comprised of four regional managers and an incubator manager in BFTP/NEP’s 21-county service area. Barz will also lead the Solutions Network, which has responsibility for identifying, qualifying, and directing Ben Franklin’s business and technical advisors, and third-party prospective client reviewers.

In his previous position, Barz managed Ben Franklin TechVentures, which was selected by the International Business Innovation Association as Incubator of the Year in both 2001 and 2012. In that position, he provided direct strategic business development assistance to more than 150 firms, facilitated investor introductions, developed new business opportunities, and helped recruit outside resources and management team members.

Barz assisted clients in raising $175 million in follow-on investment and in generating $28 million in 2018 revenues. He serves as a board observer at six BFTP/NEP client companies. As the leader of the Ben Franklin Business Technology Incubator Network, Barz provided mentoring and developmental assistance to 12 other incubators in northeastern Pennsylvania. This network is among the largest incubator networks in the U.S.

Before coming to Ben Franklin, Barz was the Director of Industrial Development for the Allentown Economic Development Corporation (AEDC). He managed the Bridgeworks Enterprise Center small business incubator and the Allentown Enterprise Zone program. Prior to that, he worked at the Urban Research and Development Corporation, at which he directed many of its economic development projects.

Barz earned an MBA, Management of Technology, and a BS, Economics, both from Lehigh University. He completed a Lehigh University vSeries Certificate in Entrepreneurship and the Mergers and Acquisitions course of the National Association of Certified Valuation Analysts.

Barz has served on myriad economic development, technology infrastructure, and community boards over three decades. Currently he is the board president and a finance committee member of the Community Action Committee of the Lehigh Valley; a board member and past President of the Rising Tide Community Loan Fund; and a board member for the City of Allentown Enterprise Zone Committee. He was the chairperson of the Science and Technology Committee of Lehigh Valley Economic Development Corporation and a member of the Bridgeworks Enterprise Center Advisory Committee.

He earned the Lehigh University MBA Alumni Award for Entrepreneurship in 2012.

Barz is a frequent speaker at numerous events, including presentations for the International Business Innovation Association, the Pennsylvania Economic Development Association, the Creating Pennsylvania’s Future Summit, the Lehigh Valley Engineering Council, the Iacocca Institute’s Global Village, and many others. He conceived, developed, and taught a course, Building the High-Tech Start-Up, at Lafayette College from 2010 through 2018.

About the Ben Franklin Technology Partners of Northeastern Pennsylvania

The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) creates and retains highly paid, sustainable jobs by investing in and linking companies with experts, universities, follow-on funding, and other resources to help them prosper through innovation. It is part of a four-center economic development initiative of the Pennsylvania Department of Community and Economic Development and is funded by the Ben Franklin Technology Development Authority.

BFTP/NEP’s strategy encompasses three key areas:

1.     developing and growing early-stage technology-oriented companies;

2.     supporting established manufacturers as they creatively apply new technology to help them succeed globally by producing better, cheaper, and faster;

3.     promoting an innovative community-wide infrastructure that supports Pennsylvania’s business technology ecosystem.

Since beginning operations in 1983, BFTP/NEP has helped to create 18,536 new jobs for Pennsylvania workers and to retain 37,328 existing jobs, to start 520 new companies, and to develop 1,935 new products and processes. Since 2007, BFTP/NEP clients have generated nearly $1.6 billion in follow-on funding. ThePennsylvania Ben Franklin Technology Partners network has returned $3.90 to the state treasury for every $1.00 invested in the program.

BFTP/NEP owns, manages, and is headquartered in Ben Franklin TechVentures®, an award-winning business incubator/post-incubator facility on Lehigh University’s campus in Bethlehem. BFTP/NEP also owns and manages the Bloomsburg Regional Technology Center. Applying more than 35 years of experience and two international awards for excellence in business incubat