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Physician Information Firm MDx Medical Raises $3M - cbl
Posted October 23, 2011
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By Richard Rabicoff
LYNDHURST, N.J. -- Physician information firm MDx Medical, Inc. completed a $3 million equity round.
Citybizlist reported in February of 2011 that the company raised $16.3million in a mixed securities offering.
Named in the current SEC filing were co-founder and CEO Mitchel Rothschild, and directors Richard Forman, New York-based Health Venture Group, LLC,; Sandra Panem, New York-based Cross Atlantic Partners; Todd Petri, New York-based Milestone Venture Partner Ventures; and Brandon Hull, Princeton-based Cardinal Partners.
Rothschild has also been General Manager of B2B Brand Group, LLC., Chief Executive Officer of Raspberryred Marketing and RUSS CandyBears. He served as Vice President? of Sports Marketing of Genesis Direct Inc., and Vice President of Marketing & Product Development at Guidance Associates / Prentice Hall Media. Earlier he served as the Time Magazine circulation director and Chief Executive Officer of Time Warner Viewer's Edge. He serves on the board of directors of Awards.com, LLC; Dale & Thomas Popcorn, LLC; Access Medical, and American Registry, LLC.
Lyndhurst, New Jersey-based MDX Medical Inc. provides information on doctors and their practice. Their website also offers consumer reviews and recommendations from other doctors in order for consumers to rate doctors. The company is the parent of Vitals.com, designed to provide consumers the tools to make sound decisions about choosing their doctors, from a database of more than 720,000 physicians.
SEC filing: http://tinyurl.com/5rr8mly
Director Bios:
Todd T. Pietri
Mr. Pietri co-founded Milestone Venture Partners with Ed Goodman in October 1999. He brings operating and investment experience to its management. Since launching MVP II in 2001, Mr. Pietri has developed expertise and relationships in the financial services IT, pharmaceutical IT, healthcare media, marketing services and outsourced business service sectors. Mr. Pietri is responsible for twelve Milestone investments: BizBash Media, Derivatives Portfolio Management (successfully sold to Mellon Financial in February 2005), Octagon Research Solutions (successfully exited majority of position in August 2008), GenomeQuest, Oddcast, SmartAnalyst, MedPage Today (successfully sold to Everyday Health in December 2010), MDX Medical ("Vitals"), Peridrome , TargetSpot, BA-Insight and Halfpenny Technologies.
His earlier financial experience includes co-heading the Technology and Communications Investment Banking Group at Legacy Securities, where he performed a broad range of capital raising, M&A and other financial advisory services. Mr. Pietri was also a member of Legacy's direct investment team, which provided mezzanine and growth equity through its affiliate, Legacy Capital Partners. Mr. Pietri also has control investment experience, having worked as an Associate at Callier Interests, a turn-around LBO firm focused on middle market industrial distributors and manufacturers.
Mr. Pietri's operating experience spans direct sales, sales management, channel management, business development and business process consulting. From 1992 to 1997, he ran IT consulting and direct sales for CompuSystems, an Atlanta-based ERP software and services firm focused on industrial distributors and manufacturers. He and his team provided solutions for inventory control, order processing, and financial reporting. Prior to his tenure at CompuSystems, Mr. Pietri worked in the voice processing software industry for Innovative Technology, Call Response Automation and his own consulting firm.
Mr. Pietri received his BA (cum laude) in English from Duke University in 1989. While working full-time for CompuSystems, Mr. Pietri earned his MBA from the two year Executive MBA Program at the Robinson School of Business at Georgia State University in 1997, graduating first in his class. He is also CFA charterholder and graduate of the Venture Capital Institute Graduate Program.
Mr. Pietri currently serves as a director of GenomeQuest, SmartAnalyst, MedPageToday, MDX Medical ("Vitals"), Peridrome, BA-Insight, Halfpenny Technologies and BizBash Media. He is a regular guest lecturer on venture capital at The Johnson School, Cornell University's MBA program. He is also an advisory board member of NYC Seed, a public and private joint venture which provides capital and support to NYC-based seed stage entrepreneurs.
Sandra Panem, Director
Cross Atlantic Partners, Inc.
Sandra Panem joined Cross Atlantic Partners in 2000 as a Managing Partner. Previously, she was President of Vector Fund Management, where she was responsible for the start-up, capital raising, and management of the asset management affiliate of Vector Securities International. Operations included the management of the Vector Later-Stage Equity Fund, L.P., and Vector Later-Stage Equity Fund II, L.P., private partnerships committing $240 million to equity investments in the emerging life science and healthcare industries.
Prior to joining Vector, Dr. Panem served as Vice President and Portfolio Manager for the Oppenheimer Global BioTech Fund, a $200 million mutual fund that invested in public and private biotechnology companies. Prior to Oppenheimer, Dr. Panem was Vice President at Salomon Brothers, Inc. where she acted as a member of Salomon Brothers Venture Capital, a $40 million fund focused on early and later-stage life science and technology investments. Dr. Panem was also an Assistant Professor at the University of Chicago? and a Fellow at the Brookings Institution, and is the author of several books and papers concerning the commercialization of new medical technologies.
Currently, she holds directorships in Acorda Therapeutics, Labcyte, GenomeQuest, and MDx Medical. She is a director of the New York Biotechnology Association. She received a B.S. Degree in Biochemistry ('66) and a Ph.D. in Microbiology ('70) from the University of Chicago.
Brandon Hull
Cardinal Partners
Brandon is a co-founder of Cardinal Partners, a medical and life sciences venture capital partnership established in 1996. He entered the venture capital industry in 1991 as a principal of the Edison Venture Fund, where he directed Edison's healthcare investing activities and served on the boards of its healthcare portfolio companies. His extensive investment experience includes all facets of health care services, health care information systems, medical products & devices, and encompasses a variety of information technology sectors outside of health care. Prior to his venture investing experience, Brandon spent seven years in health services operations. Brandon has served on the boards of numerous healthcare and medtech companies, and currently serves as a director of AthenaHealth, CardioOptics, Replication Medical, and CodeRyte, and is a board observer at AccentCare. Brandon received his BA in Philosophy and Literature from Wheaton College and his MBA from The Wharton School at the University of Pennsylvania.
Cardinal Partners is based in Princeton, New Jersey and also has offices in Laguna Beach, California and Wayne, Pennsylvania.
Richard D. Forman
Richard D. Forman is the managing partner of Health Venture Group, LLC, a privately held investment firm focused on technology and consumer-related healthcare investments. At Health Venture Group, he has served as founder, investor and consultant for ExpertConsensus, LLCVitals.com, Centrihealth, Healthination and Finpago.
Mr. Forman is currently a board member and chairman of the Information Technology Committee for Maimonides Medical Center (MMC), the leading treatment center and academic medical center in Brooklyn, NY. MMC successfully generates revenue in excess of $800 million. It employs more than 1,000 staff physicians. MMC serves almost 45,000 patients and more than 100,000 emergency room patients annually.
Previously, Mr. Forman was co-Founder, President and CEO of Register.com, Inc. (NASDAQ-RCOM) through June of 2003.
Mr. Forman was instrumental in deregulating the domain name market. He assisted the industry and the Department of Commerce in delegating its
Internet responsibilities to the Internet Corporation for Assigned Names and Numbers (ICANN).
From November 1990 to July 1992, he was President of Bridge Associates and a manager at Ben Forman & Sons, Inc., which manufactured tabletop and giftware items. Mr. Forman was responsible for day-to-day operations and headed the acquisition of Taunton Silversmiths, Inc., a $2 million consumer products manufacturer.
From 1987 through 1990, Mr. Forman was a consultant with Booz & Company, a leading management consulting firm. At the firm, he worked out of the New York, NY and Sydney, Australia offices, where he consulted on systems, operations and strategy assignments.
Mr. Forman graduated Cum Laude from the University of Pennsylvania's Management and Technology Program. He earned a B.S. in Economics from the Wharton School and a B.S. in Electrical Engineering from the Moore School of Engineering. He has a Masters Degree from New York University's Real Estate Institute. He sits on the Board of Overseers for the School of Engineering at Penn and is the Chairman of the Dean's New York Advisory Council.
Also at citybizlist, see:
Milestone, Cross Atlantic Help MDx Medical Raise $16.3M - cbl
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