health IT

  • Sam Patrick posted an article
    SCBIO 2019 Conference Draws Speakers, Takes Center Stage October 29-31 see more

    Conference registrations soar with sell-out expected; CEOs and top industry leaders from 30 states and countries expected in Greenville for strategic partnership development, industry insights

     

    SOUTH CAROLINA – September 11, 2019Johnson & Johnson Innovation Leader Michal Preminger will join more than 40 additional national speakers at SCBIO 2019 – the annual conference bringing top leaders and executives from life sciences organizations across the state and nation to South Carolina October 29-31.

    Following an October 29 welcome reception showcasing downtown Greenville, Ms. Preminger will address an expected sold-out conference at the Hyatt Regency with a keynote presentation entitled “Innovation for a Better Tomorrow” as the main program gets underway the morning of October 30.  Her presentation will be followed by a high-powered panel comprised of regional healthcare executives entitled “Optimizing the Future of Healthcare in SC and Beyond.” 

    Among other featured Conference programs are EY’sNextWave Wellness:  An Interactive View of the Future of Our Industry”, and an address by South Carolina Lieutenant Governor Pamela Evette entitled “South Carolina:  Just Right for Life Sciences.”  Clemson University President Jim Clements headlines Day 2 with an address entitled “The Power of Partnerships in Fueling Life Sciences”, while Medtronic global executive Christian Howell will address “Driving Value-Based Care Through Collaboration"

    Scores of top industry chief executives, leaders in government and higher education, biotechnology and pharma executives, clinicians and researchers, and industry supporters from across America have already registered to attend SCBIO 2019, with registration nearly doubling the record-setting pace of 2018.  Other committed speakers and panelists include IQVIA Institute of Health Data Science SVP Murray Aitken, Innova Therapeutics CEO and Founder Robert Ryan, ChartSpan CEO & Founder Jon-MIchial Carter, Firststring Research President Dr. Gautam Ghatnekar, Nephron Pharmaceuticals CEO Lou Kennedy, USC President (Ret.) Harris Pastides, PhRMA Senior Regional Director Thomas Hardaway and numerous others.  More than 20 programs will be featured over two days.

    Themed “Ignite The Future!”, the 2+ day conference draws attendees from across America for networking, innovation updates, opportunity discovery, partnership making and strategic discussion.  Committed attendees include officials across a broad spectrum of life sciences industries including medical devices, bio manufacturing, drug discovery, pharmaceuticals, diagnostics and testing, digital health and health IT, bio-ag and more.  Space is limited and advance registration is still available at https://www.scbio.org/cpages/register-now-for-scbio-2019.

    SCBIO is South Carolina’s investor-driven economic development organization exclusively focused on building, advancing, and growing the life sciences industry in the state.  The industry has a $12 billion economic impact in the Palmetto State, with more than 670 firms directly involved and over 43,000 professionals employed directly or indirectly in the research, development and commercialization of innovative healthcare, medical device, industrial, environmental and agricultural biotechnology products. 

    SCBIO 2019 kicks off Tuesday evening October 29 with a Grand Opening Reception for conference registrants, speakers and sponsors at Greenville’s ONE Center, presented by Prisma Health.  Wednesday will feature a complete day of sessions beginning at breakfast and continuing through an evening reception presented by the Greenville Area Development Corp., Greenwood Partnership Alliance and City of Greenville.  The conference will conclude Thursday at lunchtime. 

    “Life sciences is a major driver of South Carolina’s economy, and this conference’s growth is testament to the industry’s surging impact, reach and rapidly rising economic significance in our state and region,” noted SCBIO President and CEO Sam Konduros. “Already accounting for thousands of highly-skilled jobs in the Palmetto State, this sector has tremendous growth potential, and we’re excited to showcase the top companies, research universities and leaders from across our state and country at SCBIO 2019.” 

    Among leading biotech and med-tech industry brands participating in the conference are Nephron Pharmaceutical, BIO, Johnson & Johnson, AVX, PhRMA, Medpoint, AdvaMed, Poly-Med, VWR, Ritedose Corporation, Rhythmlink, SoftBox Systems, ZEUS, Patheon Thermo Fisher and more.  All of South Carolina’s research universities – MUSC, Clemson and the University of South Carolina – are represented, as are major healthcare systems, and economic development entities including the South Carolina Department of Commerce, SCRA, the Upstate SC Alliance, the Charleston Regional Development Alliance, Central Carolina Alliance, Economic Development Partnership and SiMT.

    As the official state affiliate of BIO -- the world's largest trade association representing biotechnology organizations – along with PhRMA and AdvaMed, SCBIO members include academic institutions, biotech companies, entrepreneurial organizations, service providers, thought leaders, economic development organizations and related groups whose members are leading the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products that transform how we heal, fuel and feed the world.  For additional information on SCBIO, visit www.SCBIO.org.

  • Sam Patrick posted an article
    Greenville-based Health IT firm Chartspan lands $15 million in funding from BIP Capital see more

    One of the Upstate’s biggest entrepreneurial success stories is ready to begin its next stage of growth, and with it, the expectation of 200 to 300 more jobs over the next 24 to 36 months, almost all of them in Greenville.

    With a just-closed funding round of $15 million from a syndicate led by BIP Capital, an Atlanta-based venture capital firm, ChartSpan Medical Technologies is doubling its deployed capital, for a total of $30 million.

    Now, new funding in hand, ChartSpan will spend “a majority” of it to embark on a national sales and marketing strategy designed to capture an even larger share of the chronic care management market, said co-founder and CEO Jon-Michial Carter.

    Founded in Houston, Texas, ChartSpan chose Greenville for its headquarters in 2013 and soon emerged as the largest managed-service provider affiliated with the Centers for Medicare & Medicaid Services (CMS) chronic care management program. Currently, ChartSpan offers technology-enabled coordination of care to the patients of 106 health systems and medical practices, most of them in the Southeast.

    Working from ChartSpan’s offices at 2 N. Main St., trained clinicians assist patients with such varied needs as contacting a nurse 24/7, refilling prescriptions, accessing medical test results, making appointments, and securing transportation, with clinical data exchanged between ChartSpan’s electronic records platform and those used by hospitals and physicians.

    Nationally, ChartSpan is the market leader in the space with “the largest enrolled population in the country” served by about 200 employees, Carter said.

    “Last month, there were 61 million Medicare and Medicare Advantage patients, and that is the audience that we serve,” said Carter. “CMS says 72% of them are eligible for the program we run … so 45 million available patients and we have just under 30,000 patients enrolled. So, it’s this blue ocean of opportunity.”

    To capitalize on such a wide-open market, Carter sought to build on prior funding rounds in a way that would allow his company to reach mid-sized status rapidly.

    Ultimately, Carter chose to partner with BIP Capital, a venture capital investment firm whose focus includes health care IT, enterprise software-as-a-service, and digital media.

    Founded in 2007, the firm has invested more than $300 million since inception. Its CEO, Mark Buffington, has led investment rounds in more than 35 companies, with BIP Capital offering both funding and operational recommendations.

    In a brief telephone interview, Buffington said South Carolina’s Upstate fits his firm’s focus on “second-tier innovation centers” in geographic areas “not nearly as competitive as a Boston market or a Bay Area.”

    “We feel there’s just tons of uncovered opportunities,” Buffington said, citing venture partnerships in place in Minneapolis; Indianapolis; and Columbus, Ohio.

    BIP Capital was attracted to ChartSpan in large part due to its early understanding of the chronic care management landscape, said Austin Poole, a senior associate.

    “They’d figured out the complex parts of the process, where a lot of other groups that we had looked at were still kind of in that developmental phase, and some of them thought they might have had it figured out, but a closer look said that there might be more steps before they actually got there,” Poole said during a visit to Greenville.

    The $15 million deal led by BIP includes syndicate partners Blue Heron Capital of Richmond, Virginia; Bailey Southwell & Co. of Nashville, Tennessee; and Croft & Bender of Atlanta. All four members of the syndicate hold preferred stock equity stakes in ChartSpan.

    “Blue Heron is interesting because their entire LP [limited partnership] structure are just former health care executives that have run large enterprise companies,” Carter noted. “So, that was obvious, the attraction for us, and we spent time with them in Richmond, and again, loved the regional focus,” Carter said.

    Poole, along with BIP Vice President Sarath Degala, will operate out of Greenville’s NEXT on Main incubator and will collaborate with Carter and other ChartSpan personnel on the company’s growth while also becoming familiar with other businesses in the region.

    “We expect to hold office hours, take part in pitch events, mentor entrepreneurs and companies, provide guidance in strategies and funding alternatives as well as hopefully become engrained in the VC infrastructure in the community,” Degala said via email.

    John Moore, president and CEO of NEXT, believes BIP Capital’s arrival in the Upstate represents a turning point in the evolution of funding for entrepreneurs.

    “One of the biggest things obviously in any ecosystem is building access to capital. … We’ve been working on that for a long time, and to see something like this happen and see BIP’s leadership, first and foremost in the investment in ChartSpan, is tremendous,” Moore said.

    According to Moore and Carter, BIP’s deepening commitment to the Upstate will provide a flight path to growth funding for a variety of local firms that successfully launched with seed money.
     

    VentureSouth, which now operates 12 angel groups across the Carolinas, provides much of that early stage funding, said Matt Dunbar, one of its three managing directors. The combined group, with 320 active investors, has deployed $36 million for 67 companies since 2008.

    Using preliminary data, the Angel Capital Association, a national trade group, just placed VentureSouth among the top 10 angel groups in the country in terms of dollars invested, or $7 million in 22 companies during 2018.

    “Matt was a resource and in some ways a mentor for me early on,” Carter remarked. “All of these things in Houston, Texas, where we came from, we would’ve got lost and drowned. We wouldn’t have had this kind of support.”
     

    Now, Carter’s company looks set to add significantly more clients, revenues, and jobs.

    “Part of what was so compelling for us about ChartSpan as an investment was, not only does it bring efficiency to the whole U.S. health care system, but also the impact that it has on the patients,” said BIP’s Austin Poole.

    “Any time you’re positively impacting the end-user in that magnitude, we get excited about that,” he said.

    NOTEStory compliments of Upstate Business Journal.