Riverside Partners Backs Stinger Medical

Riverside Partners has completed an investment in Stinger Medical, a provider of mobile clinical workstations and medical technologies. Riverside Partners’ investment was completed in partnership with the Stinger management team and the founder of the business.

PRESS RELEASE

Riverside
Partners, a Boston-based private equity firm, is pleased to announce that it
has completed an investment in Stinger Medical (“Stinger”), a leading provider
of mobile clinical workstations and medical technologies. Riverside Partners’
investment was completed in partnership with the Stinger management team and the Founder of the business.

Headquartered in Murfreesboro, Tennessee, Stinger Medical provides mobile
medical workstations and related technologies for the acute care market. Stinger
has a long history of innovation in the medical cart industry. Its team is
dedicated to creating products that streamline workflow processes, reduce
errors, enhance the quality of patient care and help providers comply with
meaningful use guidelines. Stinger’s proprietary Mobius Power solution and its
fleet tracking technology, CAST, also enhance provider care to patients.

“Given the rapidly evolving dynamics of today’s healthcare ecosystem, Stinger
was looking for an investment partner not only to help us grow, but also to help
us navigate the increasingly complex healthcare IT market. We believe that
Riverside Partners’ focus on technology investing as well as their deep
expertise in healthcare makes them the perfect combination,” said Gary Coonan,
Founder and CEO of Stinger Medical. “We are already beginning to benefit from
the healthcare operating resources that come with our partnership with Riverside
Partners.”

“Stinger Medical is clearly the innovation leader in the mobile clinical
workstation industry and the company continues to develop advanced new
technologies for this rapidly growing market. Stinger’s products are pivotal in
helping hospitals effectively deploy electronic health records and improve
caregiver workflow and patient care,” said Philip Borden, General Partner at
Riverside Partners. “And Stinger’s strong commitment to R&D makes us even more
excited about the future of technology integration with providers.”

About Stinger Medical
Stinger Medical is the leading manufacturer of mobile solutions and medical
technologies for the healthcare marketplace. Customers value Stinger Medical as
a long-term partner that consistently delivers unmatched products and services.
Leveraging more than a decade of healthcare experience, Stinger understands the
unique needs of healthcare providers and is dedicated to creating products that
streamline work flow processes, reduce errors, enhance quality of patient care,
increase patient confidence, and put focus back on the patient.

About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm
currently investing Riverside Partners Fund V, L.P. The fund focuses on
growth-oriented companies primarily in the healthcare and technology industries.
Riverside Partners is particularly experienced at partnering with founders,
owners and management teams and it brings substantial domain expertise and
operating experience to its portfolio companies. Today, Riverside Partners
manages $1 billion of equity capital and seeks to make investments in
companies with revenues between $20 and $200 million and with $5-$25 million
of EBITDA.