MDTC Backs Forerun

Forerun Inc., a Waltham, Mass.-based provider of clinical workflow solutions for emergency rooms, has raised $1.35 million in VC funding led by the Massachusetts Development Technology Corp. 

PRESS RELEASE

Forerun, Inc. (www.forerunsystems.com), the leader in clinical workflow solutions designed exclusively for Emergency Departments (“ED”), today announced that it has received $1.35 million in venture capital funding from the Massachusetts Development Technology Corporation and existing investors.

Forerun ED, developed by leading emergency medicine physicians, delivers a complete and fully integrated view of the ED that is unique in the industry, with instant access to all clinically relevant information. The system helps accelerate the delivery of care during peak periods, enabling the ED team to see more patients without compromising quality, while enhancing patient safety.

The Massachusetts Technology Development Corporation (MTDC) is lead investor in the Series B-1 funding, which also includes previous investors and Forerun founders. Forerun will use the capital from this round to deliver product and technology enhancements at the five hospitals that are using the application at the core of their emergency departments that in aggregate care for over 200,000 patients a year. Forerun will also invest in infrastructure to support implementation at additional hospitals in the coming year.

“Forerun has already demonstrated its ability to address a growing and serious need in the delivery of healthcare services,” said MTDC Vice President Jerry Bird. “Hospitals recognize that they can ill afford to have an Emergency Department that fails to meet the growing demand for services and the resultant patient dissatisfaction, loss of revenue, and increased risk of malpractice. Forerun is commercializing clinical tools that were developed over a 7-year period at Harvard-affiliated Beth Israel Deaconess Medical Center and have proven to help caregivers serve more patients, faster and more safely.”

Over the next year to eighteen months, Forerun plans to make its software widely available in the U.S., utilizing its scalable “Software as a Service” (SaaS) delivery model. By offering its software as a service, Forerun enables hospitals to adopt transformational technology while minimizing incremental IT support costs.

Forerun is poised to change the way emergency departments operate by providing a safe, reliable and affordable service to capture, integrate and manage essential patient and hospital data. Ken Wolfe, Forerun's President and CEO said, “We appreciate MTDC's and the other shareholders' vote of confidence in Forerun's mission. This investment will help the company dramatically improve hospitals' ability to meet growing demand for emergency services and quality reporting while operating under increasingly severe financial constraints. Forerun ED includes clinical tools that make a real difference in relieving the stress on the emergency departments.”

About MTDC

The Massachusetts Technology Development Corporation is a leading-edge venture capital firm that invests in start-up and early-stage technology companies operating in the Commonwealth of Massachusetts. MTDC has invested in many of Massachusetts' most promising new technology-based companies. For more information, visit http://www.mtdc.com.

About Forerun

Forerun, Inc. is the leading innovator in real-time workflow management solutions for the hospital emergency department. Forerun ED was developed by physicians, for physicians, to enable emergency department caregivers to accelerate the delivery of patient services during the busiest of times, while enhancing patient safety and the quality of care. Core functionality includes a global departmental view, clinical patient view, discharge and medication reconciliation, physician charting, and quality and business intelligence reporting. Founders include leading emergency medicine practitioners and IT experts associated with Beth Israel Deaconess Medical Center and Harvard Medical School. Forerun is headquartered in Waltham, Massachusetts. For more information, visit www.forerunsystems.com.