Healthcare Data Solutions Announces Funding and Additions to Executive Staff and Board of Directors

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Healthcare Data Solutions (HDS) today announced that it has completed raising its first round of institutional capital led by Sopris Capital Associates. Funds will be used for product development, additional hiring, and accelerated sales and marketing activities.

We are thrilled to have the support of a sophisticated investor who is well known in healthcare and specializes in our industry. Sopris' investment confirms the value of our hard work over the past year. During 2007 we increased revenues significantly over the previous year, added dozens of customers, and hired industry veterans in both technology and sales.

Healthcare Data Solutions (HDS) today announced that it has completed raising its first round of institutional capital led by Sopris Capital Associates. Funds will be used for product development, additional hiring, and accelerated sales and marketing activities. New additions to HDS' board include Jon Kaiden and William B. Horne of Sopris. Charles W. Stryker, CEO of the Venture Development Center, and a highly respected veteran of the direct marketing industry is also joining HDS in an advisory capacity. J. Peter Bardwick (http://www.jpbardwick.com), a founding investor and member of HDS' board, assisted the company in obtaining financing.

HDS has also hired veteran information services executive Albert Chang as Vice President of Operations. In this capacity, he will assume responsibility for marketing, planning, strategy, and business development. Most recently, Mr. Chang was Vice President of Data Quality Management at Experian with overall responsibilities for their commercial data assets. In this role, he developed analytically-driven data acquisition and data management strategies that improved overall data quality. In addition, he successfully filed patents for a new data verification methodology and data product. Previously, Mr. Chang was a Vice President at JPMorganChase, where he successfully led the development and implementation of their commercial card prospect database and developed marketing strategies for a number of card products. His experience also includes managing marketing campaigns for Bank One and First USA Bank.

Tim Slevin, HDS Chair and CEO stated "We are thrilled to have the support of a sophisticated investor who is well known in healthcare and specializes in our industry. Sopris' investment confirms the value of our hard work over the past year. During 2007 we increased revenues significantly over the previous year, added dozens of customers, and hired industry veterans in both technology and sales." Mr. Slevin continued, "This is a transitional period in the industry and we believe that we are now positioned to deliver the highest quality data and take advantage of significant growth opportunities as they arise."

Andrew M. Paul, Managing Member of Sopris Capital added "We are excited about working with Tim and the HDS team. Customer acceptance of HDS' products and services has been excellent thus far and we expect these trends to accelerate."

About Healthcare Data Solutions (http://www.healthcaredatasolutions.com): HDS is a national healthcare database company comprised of industry veterans. The company is focused on providing the largest and most accurate physician, dentist and pharmacy databases in the market today. Headquartered in Orange County, California, HDS has several areas of expertise:

  • World Class Healthcare Databases
  • Expert Consulting
  • List Brokerage
  • Email Marketing
  • Lead Generation Programs
  • Custom Data Collection Programs

About Sopris Capital (http://www.sopriscapital.com): Sopris Capital was established in 2002 by Andrew M. Paul as a vehicle to invest his own capital and that of other partners in exceptional growth companies. Sopris Capital invests opportunistically in small, emerging companies. Mr. Paul has been actively engaged in private equity and venture capital investing for approximately 25 years, primarily in the healthcare industry. In 1984, he joined Welsh Carson Anderson & Stowe, a private investment firm that specializes in venture capital/LBO opportunities. During his 16 year tenure at Welsh Carson, he was jointly responsible for healthcare investing and was one of two lead partners for 38 investments in the healthcare industry, serving on the board of directors of 11 companies that successfully completed public offerings. At the time he left the firm in 2000, he had held a position on the Management Committee as a senior executive of the firm, and the firm had grown to an aggregate capital base of approximately $12 billion, which was an 84 times increase in capital over Mr. Paul's tenure with the firm.

About Venture Development Center (http://www.venturedc.com): Since 1992, VDC has worked with dozens of firms both within and outside the information services industry to identify, define, and implement innovative breakthrough strategies. VDC has created many new product, distribution, and market development ideas yielding exceptional returns for its clients. Collaboration typically involves strategy formulation, product creation, marketplace distribution, early-stage investment support, and business development.

Dr. Charles Stryker and his management team have years of experience resulting in a very rich network of contacts. Representative clients include: 24/7 RealMedia, Acxiom, AOL, AT&T, Convergys, Greenfield Online, Harte-Hanks, IAC, Kintera, LexisNexis, Sprint, Tranzact, and V12. Charlie founded his first entrepreneurial venture, Trinet, Inc. in the early 1980s. In 1990, Trinet was merged with American Business Information. Following the merger, the combined company became InfoUSA. Charlie was one of the first five private shareholders and was President of InfoUSA when it went public.

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