JMI Equity has put an undisclosed amount into Capsule Tech Inc., a developer of medical device connectivity technology. In conjunction with the investment, Capsule has named Gene Cattarina as its chief executive officer, the company announced.
Capsule Tech, Inc., the leading provider of medical device connectivity, today announced the completion of a strategic investment from JMI Equity, a growth equity firm focused on investing in growing software, Internet, business services and healthcare IT companies. In conjunction with the investment, Capsule has named Gene Cattarina as its chief executive officer to lead the company in its next phase of growth. Mr. Cattarina, an experienced healthcare IT executive, succeeds Arnaud Houette, who will continue to serve on Capsule’s Board of Directors.
JMI’s investment and the appointment of Mr. Cattarina come following important achievements under Mr. Houette’s leadership. Capsule experienced record growth in 2011, nearly doubling revenues, and surpassed the 1,000 customer milestone.
“The appointment of Gene as CEO is an exciting development for Capsule,” said Mr. Houette. “We are fortunate to have attracted a leader with such extensive experience in the healthcare industry and success driving high-growth initiatives. Under Gene’s leadership, Capsule is well positioned to accelerate its growth and move into the next phase of innovation and development.”
Mr. Cattarina is a career healthcare industry veteran. Prior to joining Capsule, he established an impressive track record of leadership and success in numerous senior executive positions at companies in healthcare information systems, software, products, devices and professional services. Most recently, he was CEO of Impulse Monitoring, a leading provider of outsourced intraoperative neuromonitoring solutions to hospitals and other healthcare facilities. Under his leadership, the company grew revenues by approximately 165 percent. Mr. Cattarina also served as president and CEO of Lynx Medical Systems; Landacorp, Inc.; Medicode; and TDS Healthcare Systems, now part of Allscripts. He began his career with Technicon Corporation, groundbreaking automators of the clinical laboratory. Mr. Cattarina will be based in Capsule’s North American headquarters in Andover, Massachusetts.
“I’m looking forward to the opportunity to work with this successful, proven leader in medical device integration,” said Mr. Cattarina. “With the support of JMI and the strength of our existing team, Capsule has the resources to continue developing and delivering solutions that will transform care at the bedside and improve overall patient care and outcomes.”
“We believe Capsule is ideally positioned to benefit from the continued positive momentum of EMR adoption by hospitals,” said Harry Gruner, founder and a managing general partner of JMI. “The company has seen significant growth as a result of its innovative and seamless technology. We are pleased to be able to partner with Gene and the Capsule team to help the company continue to grow by remaining focused on delivering the best possible technological offering to hospitals and their care providers on a global scale.”
About JMI Equity
JMI Equity is a leading growth equity firm focused on investing in growing software, internet, business services and healthcare IT companies. Founded in 1992, JMI has invested in more than 100 businesses in its target markets and has over $2.1 billion of committed capital under management. JMI provides capital for growth, recapitalisations, acquisitions and buyouts. Representative investments include DoubleClick, PointClickCare, Navicure, Nimsoft, ServiceNow and Seismic Micro-Technology (SMT). For more information on JMI, visit www.jmi.com.
Capsule is the leading global provider of medical device connectivity solutions for hospitals. The company’s vendor neutral solution seamlessly connects virtually any medical device to any information system in any care area. Through its innovative technology, Capsule enables hospitals using electronic medical records and other information systems to reduce costs, increase efficiency and improve patient care. Capsule’s medical grade solution is completely flexible and scalable, offering a variety of deployment options to meet the needs of any healthcare center across the enterprise. Whether hospitals are looking for software only, software hosted on a PC, or a complete turnkey solution, Capsule’s products are designed to deliver value-added applications at the bedside. Having these options not only allow hospitals to start small and expand as their needs grow but ensure that they can take advantage of future connectivity applications as device integration rapidly evolves. Founded in 1997, the company has established strong partnerships with leading medical device manufacturers and installed enterprise-wide solutions in more than 1,000 hospitals in 30 countries. For more information, visit www.capsuletech.com or call +33 1 5334 1400 (France) or 978-482-2337 (US).