Dallas, TX (PRWEB) March 27, 2006
Vocada, Inc., pioneer in the emerging business of Critical Test Result Management (CTRM), has concluded a Series B funding round, including equity investments by Murchison Capital Partners, L.P. and the Bower Foundation of Mississippi.
In conjunction with the investments, Vocada has added two new outside directors: Robert F. Murchison, partner of Dallas-based Murchison Capital, and Dr. Alan R. Hull, of the Bower Foundation.
The additional capital will be used to support expansion of Vocada’s software product line, according to Peter White, co-founder and chief executive officer.
Vocada’s breakthrough VoiceLink system for the first time makes Critical Test Result Management (CTRM) possible for hospitals. The VoiceLink customer base has grown to more than 60 hospitals nationwide in just two years, with more being added each month. These hospitals serve more than 60,000 referring physicians, or about 10 percent of the nation’s total.
VoiceLink ensures that critical test results reach ordering physicians in time to make a difference for the patient. The system automates the process of complying with rules and guidelines for communicating critical test results. As a hosted system, VoiceLink requires no investment in new hardware or software.
Before founding Murchison Capital Partners, L.P., a private equity investment partnership, in 1992, Mr. Murchison held various positions with Romacorp, Inc., the franchiser and operator of Tony Roma's restaurants, including Chief Executive Officer from 1984 to 1986 and Chairman of the board of directors from 1984 to 1993. He served as a director of Cenergy Corporation, an oil and gas exploration and production company, from 1984 to 1987, Conquest Exploration Company from 1987 to 1991 and has served as a director of TNW Corporation, a short line railroad holding company, since 1981 and Tecon Corporation, a holding company with holdings in real estate development, investor owned water utilities, rail car repair and the fund of funds management business, since 1978. He currently serves as a director of two public entities: Crosstex Energy, L.P., and Crosstex Energy, Inc.
Dr. Hull, of Dallas, is a director of the Bower Foundation and a nationally known nephrologist and medical educator. He is currently an independent consultant for Transplantation and Nephrology for Renal Management, Inc. He has been President of the National Kidney Foundation, American Society of Transplant Physicians (now ACT), and Renal Physicians of Texas. He was a co-founder of Dallas Nephrology Associates, one of the largest nephrology group practices in the United States.
“We’re excited about the opportunity to become involved with a company that is making a significant contribution to patient safety and making the delivery of health care more efficient,” Mr. Murchison said. “Vocada is doing well by doing good.”
The two new directors join original outside director John Purtell, a Dallas business executive and private equity investor. Mr. Purtell has deep roots in the computer industry including leading the development, implementation and rollout of the Sears Business Systems Centers, and serving as president of CompuShop and orchestrating the sale of that company to Bell Atlantic. He was an original investor in Contact Software in 1986 and served as Chairman of the Board of that Company until it was sold to Symantec in 1994.
Vocada co-founders Peter and Thomas White round out the five-member board of directors.
About Vocada, Inc.
Vocada’s VoiceLink™ critical test results management solution is the only enterprise solution for communicating critical test results from hospital diagnostic departments to ordering clinicians. Using a patented, hosted system, VoiceLink automates the distribution of critical test results in a real-time, assured and trackable solution, simultaneously enhancing patient safety and boosting physician productivity. The privately held company was founded in October 2000 by brothers Peter and Thomas White, who were both previously involved with other innovative and successful technology ventures. The company¹s first product, VoiceLink, was introduced in 2004.