BioInformatics, Inc. Announces Series B Funding and Acquisition of Kalorama Information
Company completes 3rd acquisition and attracts growth equity investment for further expansion
ARLINGTON, Va. (PRWEB) November 02, 2018
BioInformatics, a leading strategic services company for the life science, clinical diagnostics, analytical instrumentation, radiology, and dental markets, announced today a $21 million Series B commitment by BroadOak Capital, Pablo Capital and Research Corporation Technologies. The initial funding will be used to fund the Kalorama acquisition and other growth initiatives with additional capital reserved to fund future strategic acquisitions. As a result of the financing, Mark Anderson, a Partner with Pablo Capital, will join the BioInformatics Board of Directors, along with existing board members Bill Snider and Tim Johnson of BroadOak Capital.
The Science and Medicine Group is a platform to support the dynamic changes in the marketplace as science and medicine converges to better measure and detect changes in our bodies and the environment. Over 500 companies in the life science, clinical diagnostics, radiology, and dental markets have launched products on our digital platforms or used our market intelligence data and publications to better position and market their products.
“Over the next 5 to 10 years we see a world where instruments and diagnostics – including analytical, imaging, and clinical – will converge,” said Craig Overpeck, CEO of Science and Medicine Group, “We are putting a stake at the intersection of science, medicine, and technology to help guide companies with transformative information and media products and services for converging markets that will make a difference in the lives of billions of people for the next century.”
The assets of Kalorama Information will be combined with existing capabilities including BioInfo Market Research, The Science Advisory Board, Strategic Directions International (SDi) creator of the SDi Global Assessment Report, Instrument Business Outlook a bi-weekly publication subscribed to and read by senior executives in the analytical instrument market, and IMV a leader in the radiology and diagnostics space. Together all companies and assets will be managed and integrated under the Science and Medicine Group which is headquartered in Arlington Virginia and has services in business intelligence / market research, digital media and marketing, publishing, education, and job boards for scientists, lab managers, dentists, and radiologists.
ABOUT BIOINFORMATICS INC.
BioInformatics Inc., now part of Science and Medicine Group is the premier research and advisory firm serving the life science, clinical diagnostics and analytical instrument industries. By leveraging our expert network of more than 50,000 life scientists, the company has supported more than 500 companies in creating insights that lead to better business decisions.
ABOUT SCIENCE AND MEDICINE GROUP
Science and Medicine Group supports companies seeking to commercialize the rapidly changing marketplace at the intersection of science, medicine, and technology. Comprised of industry leading brands, Science and Medicine Group serves analytical instrument, life science, imaging, and clinical diagnostic companies by helping them create strategies and products to win markets and provide platforms to digitally engage their customers through a variety of innovative solutions. Clients including some of the top Fortune 500, Science and Medicine Group’s business intelligence, market research and publications, and marketing platforms to grow their businesses globally.
About BroadOak Capital Partners
BroadOak Capital Partners is a privately held merchant bank with a comprehensive focus on the Life Sciences and Healthcare Services industries. Our sector focus includes research tools and consumables, diagnostics, pharma services, healthcare IT, medical devices, and other healthcare services. For more information visit http://www.broadoak.com
About Pablo Capital
Pablo Capital is a family office headed by experienced health care investors Bruce and Mark Anderson.
Research Corporation Technologies (RCT) in Tucson, Ariz., is a technology investment and management company that provides early-stage funding and development for promising biomedical companies and technologies. RCT focuses on investing in technology that originated in universities and research institutions worldwide. http://www.rctech.com