Perminova, Inc. Has Been Accepted into the Connect Springboard Program

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San Diego based Perminova, Inc. is steadily making waves in the Healthcare IT market with its web-based (SaaS) cardiovascular surgery information system (CVIS), CardioSure™.

San Diego based Perminova, Inc. is striving to be the next great success story in a long line of great companies that have graduated from the CONNECT Springboard incubator program. Perminova is steadily making waves in the Healthcare IT market with its web-based (SaaS) cardiovascular surgery information system, CardioSure™. Perminova’s founders, Dr. Gregory Feld and Robert Cass, have each spent much of their lives working in the hospital. Together, they’ve created a unified cardiovascular information system that is on its way to becoming the standard in the traditionally underserved and highly disjointed area of Cardiology. With its system already deployed in two hospitals and four procedure suites at University of California San Diego (UCSD) Medical Center, and with additional other hospitals committed, including the highly acclaimed California Pacific Medical Center located in San Francisco, CA, they are well on their way.

Just as important as signing new customers, however, is creating a clear marketing message and developing a sustainable business plan in order to attract quality investment capital, foster innovation, and service existing customers.

“We have a very talented team, with diverse backgrounds,” says Brian Powers, director of Business Development for Perminova, and he continues “As a startup in this tight credit market, Perminova has focused its energy on building a game changing platform and testing and proving excellence with our research and development partner, UCSD Medical Center. Now, with successful, proven products, we have turned to the CONNECT Springboard incubator program to get us to the next level.”

It’s in these areas that the CONNECT programs have a proven track record. Since 2005, 118 companies have completed the CONNECT Springboard process and 75% of these companies are still in operation as of December 2008. These companies have raised over $110 million in seed, venture and debt financing. The Springboard program managers report that if a startup company can raise funding during the first 2 years after its graduation, the survival rate rises to 88 percent. CONNECT was founded by UCSD back in 1985 at the urging of the region’s business community to link high-tech and life sciences entrepreneurs to the resources they need for success; CONNECT’s program has since become both a model for supporting and fostering entrepreneurship in high-tech and life sciences, and also one of the most successful programs for supporting entrepreneurs at all stages of growth. In a feature called "Incubation Nation," Inc. Magazine (May 2010 issue, page 98, http://www.inc.com/magazine/20100501/the-best-business-incubators.html) the article sites CONNECT as the only accelerator highlighted in California, "San Diego: CONNECT, one of the nation's first incubators, has been working with start-ups since 1985; the 2,000 ventures it has assisted have received more than $10 billion in funding.”

Underlying CONNECT’s formula for success is in providing its incubating companies with free coaching from highly successful and seasoned senior industry executives, as well as corporate and patent attorneys, venture capitalists, accountants and engineers, who graciously donate their time, energy and insight. Companies accepted into the Springboard program receive three to eight weeks of coaching from one or more of CONNECT’s Entrepreneurs-in-Residence (EIRs). Ruprecht von Buttlar, Business Creation and Development Director for CONNECT said: “Perminova has received mentoring in CONNECT’s Springboard program since May 2010 and makes rapid progress under the guidance of two highly experienced and successful Entrepreneurs-in-Residence (EIRs), Rick Kreysar and James Pantera. As a start-up in the Healthcare IT field, Perminova will streamline their business model, go-to-market plan and financial strategy with additional help from Springboard CFOs and marketing experts. Graduating from Springboard, Perminova will be eligible to participate in CONNECT’s Venture Roundtable program, present to CONNECT’s Deal Network, a network of high net worth individuals as well as work with members from the Tech Coast Angels (TCA).”

Rick Kreysar, one of the CONNECT Springboard EIR’s working with Perminova, is a former board member of Lawson Software (NASDAQ: LWSN) and former CEO of SendMail, Determine Software (acquired by Selectica, Inc) and Accrue Software (acquired by Datanautics Inc); he has held senior executive positions for McAfee, Computer Associates (CA), Sprint and others. Throughout his corporate career, he has successfully acquired over 25 companies and taken two public. “I immediately liked the potential of Perminova when I first heard their presentation,” said Rick. “I have enjoyed working with their team to help them craft a more streamlined marketing message so they can take their highly efficient, safety conscious software solution to a more targeted market with maximum opportunity for success.”

About Perminova
Perminova, Inc. specializes in the next generation of web-hosted cardiovascular and surgery information management systems. Perminova combines practice management, clinical documentation, and reporting while leveraging open standards and a Rich Internet Architecture (RIA) to provide an agile, collaborative Software-as-a-Service (SaaS) model for cardiology practices. The company’s groundbreaking new platform offers flexibility for organizations of all sizes, ranging from single offices to large surgery centers and enterprise-wide hospital systems. Perminova’s goal is to improve patient care, workflow, and physician satisfaction, while providing for a rapid time-to-value and an outstanding return-on-investment, through state-of-the-art software and services. Perminova is committed to the continuous innovation of medical solutions for the common good of both patients and customers.

To read more about Perminova Inc., please visit http://www.Perminova.com
To read more about Connect, please visit http://www.Connect.org

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Carl Hartzel
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