NJTC Venture Fund Invests in Seed Financing of Sword Diagnostics
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NJTC Venture Fund Invests in Seed Financing of Sword Diagnostics

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NJTC Venture Fund Invests in Seed Financing of Sword Diagnostics NJTC Venture Fund Invests in Seed Financing of Sword Diagnostics Document Transcript

  • PRESS RELEASE Empowering Entrepreneurs Through Networked Capital Contact: 1001 Briggs Rd, Mount Laurel, NJ 08054 Tracy Copple 4 Becker Farm Rd, Roseland, NJ 07068 tracy@njtcvc.com (973) 994-0606 www.njtcvc.com NJTC Venture Fund Invests in InstaMed, a Healthcare Financial Company Mt Laurel & Roseland, NJ – March 6, 2006 – NJTC Venture Fund, an $80 million early stage venture capital fund, announces its investment in Philadelphia-based InstaMed Communications. InstaMed is addressing the present inefficiencies in the healthcare industry’s payment process. The company offers real-time processing of healthcare and financial transactions, by offering a suite of products and services that integrate into existing systems and workflow for real-time, direct connectivity to payers and banks. Jim Gunton, General Partner of NJTC Venture Fund stated, “We are very excited about InstaMed and its management team’s knowledge of and relationships in this industry. Payment processing is an issue at the forefront of healthcare providers and payers. We believe InstaMed is well-positioned to capitalize on this trend and will become the industry standard. The company provides a commercial-grade, real-time solution to the leaders in the industry while offering a compelling ROI. We are pleased to be able to provide our expertise and financial support to such a unique and well-needed technology.” Bill Marvin, President of InstaMed stated, “NJTC Venture Fund has a strong network and proven track record of fostering growth and increasing shareholder value for technology companies. Their success and experience in the Consumer Directed Healthcare and financial services arenas is very appealing to us. We welcome their partnership as we accelerate our marketplace adoption and deliver a new business model to a rapidly changing industry.” About NJTC Venture Fund: www.njtcvc.com NJTC Venture Fund is an $80M early stage venture capital fund investing in promising companies located in the New Jersey region. Industries of interest include communications, energy, information technology, healthcare/life sciences, and materials. NJTC Venture Fund will invest $250K – $5M per company and supports its portfolio with an unparalleled network of local, active partners and advisors. NJTC Venture Fund is actively seeking new investments in early stage companies. About InstaMed: www.instamed.com InstaMed is a real-time gateway and processor of healthcare and financial transactions, offering products and services that integrate into existing systems and workflow for real-time, direct connectivity to payers and banks.