Comcast to buy 51 percent of Universal Studios Japan for $1.5 billion: Reuters

(Reuters) — U.S. cable company Comcast Corp said on Monday it has agreed to buy a 51 percent stake in Osaka-based theme park operator USJ Co for $1.5 billion. Comcast said in a statement Goldman Sachs Group Inc, Seoul-based private equity firm MBK Partners and others will retain a 49 percent stake in USJ, the operator of Universal Studios Japan. The deal gives USJ an enterprise value of $6.2 billion, Comcast said. Comcast owns Universal Studios and as well as Universal Theme Parks through its NBCUniversal unit.

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Comcast to buy 51 percent of Universal Studios Japan for $1.5 billion: Reuters

IHS to make bid for Solera, rivaling Vista Equity: Reuters

(Reuters) — IHS Inc is preparing to submit an offer next week for Solera Holdings Inc, the software maker that agreed this month to sell itself to Vista Equity Partners LLC for $6.5 billion, including debt, people familiar with the matter said. IHS, an information services firm, is looking to reduce its exposure to the energy sector after several of its clients slashed spending amid plummeting oil prices. It sees synergies between Solera, whose software is used for the processing of car insurance claims, and R. L. Polk & Co, an automotive data company that it acquired in 2013, according to the sources. IHS is planning a stock-and-cash offer that will exceed Vista’s offer of $55.85 per share, the people said on Friday. It has lined up at least three banks to provide debt financing for its offer, the people added. Reuters first reported that Solera and IHS were in talks before Vista Equity, a technology-focused private equity firm, clinched a deal. IHS wants to make its offer next week so it has enough time to negotiate a deal with Solera before Oct. 11, the sources said. After that point, the deal termination fee that Solera would have to pay Vista Equity to agree to sell itself to IHS rises from $38.2 million to $114.4 million. IHS’s market capitalization is $7.6 billion. Given that Vista Equity’s offer was all in cash, IHS will have to show that its currency is valuable enough for its bid for Solera to be superior, the people said. The sources asked not to be identified because the deliberations are confidential. IHS and Vista Equity declined to comment, while Solera did not respond to a request for comment. Based in Englewood, Colorado, IHS provides research and analysis across various industries for business and governments in 150 countries. It has expanded into the automotive space in recent years and now owns CARFAX, which provides vehicle history information for buyers and sellers of used cars and light trucks, as well as used car listings. Solera, based in Westlake, Texas, processes more than 230 million insurance transactions annually in 75 countries under brands such as Audatex. It was founded in a garage in 2005 by CEO Tony Aquila. (Reporting by Liana B. Baker in New York; Editing by Christian Plumb)

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IHS to make bid for Solera, rivaling Vista Equity: Reuters

LifeImage scores $5 mln from Zaffre Investments

Newton, Massachusetts-based LifeImage, a medical image exchange platform, has raised $5 million in funding. The investor was Blue Cross Shield of Massachusetts‘ investment arm Zaffre Investments LLC. PRESS RELEASE NEWTON, Mass.—September 24, 2015— lifeIMAGE, the medical image exchange platform that enables imaging data interoperability across healthcare networks, providers, patients and technology systems, today shared details of a $5 million strategic investment from Zaffre Investments, LLC, the investment arm of Blue Cross Blue Shield of Massachusetts (BCBSMA). This investment follows the $17.5 million round of financing lifeIMAGE received in May, which was led by Cambia Health Solutions, a family of health solutions companies and health insurance plans based in the Pacific Northwest, and supported by existing investors Cardinal Partners, Galen Partners and Long River Ventures, among others. lifeIMAGE is an interoperable medical image sharing network that helps healthcare providers access their patients’ imaging records, regardless of where exams are performed or stored. This leads to faster, higher quality care, and lower rates of harmful and costly repeat testing. The lifeIMAGE network has been adopted by more than 120 multi-site health systems across the country, including the leading providers in Massachusetts, to improve care coordination for patient consultations, referrals and transfers. “Technology has the ability to reduce unnecessary and duplicative testing and images, and will lead to long-term improvement in both care delivery and patient outcomes here in Massachusetts, and beyond,” said Tuoyo Louis, Managing Director, Zaffre Investments. “lifeIMAGE represents technology that we believe enables these goals and makes it easier for patients to navigate the health system.” Zaffre Vice President, Steven J. Fox, will serve as board observer at lifeIMAGE, and will help identify opportunities to connect providers and patients in the BCBSMA network with their imaging studies via lifeIMAGE. He is a longtime champion and advocate of interoperable health IT and brings a strong payer and industry knowledge to lifeIMAGE. The lifeIMAGE platform supports large implementations at academic medical centers, pediatric facilities, certified trauma centers, oncology centers of excellence and imaging providers by combining local network image sharing with a medical-grade secure cloud. This allows multidisciplinary care teams to more easily access their patients’ imaging records, as well as share them with doctors and specialists outside a health system’s network. The platform is typically leveraged by clinicians in image-intensive disciplines such as orthopedics, neurology, cardiology, oncology, pulmonology, surgery, pediatrics, critical care, radiology and others. “Health providers and health plans are both seeing significant value associated with image sharing,” said Hamid Tabatabaie, lifeIMAGE CEO and co-founder. “Physicians need to be made aware of when their patients’ imaging tests become available, even when they are performed outside their health system. We continue to build out and enhance this intelligent, interoperable health data network and are excited to expand our strategic partnerships with industry leaders who share in our vision.” More users, providers sign on In addition to this funding news, lifeIMAGE also released new network statistics and details on customer momentum. New organizations on the lifeIMAGE customer roster include Cedars-Sinai Medical Center (Los Angeles), Baptist Health Jacksonville (FL), Children’s Hospital of Orange County, City of Hope Cancer Center (Duarte, CA), Emory Healthcare (Atlanta), Children’s Hospital of Wisconsin (Wauwatosa), North Mississippi Medical Center (Tupelo) and Valley Children’s Hospital (Madera, CA). Additionally, numerous existing customers recently expanded their lifeIMAGE implementations, such as Tufts Medical Center (Boston) and University Health System (San Antonio, Texas), with some including EHR integrations that make medical imaging studies viewable from inside the digital patient record. In total, nearly 450 hospitals now use lifeIMAGE for medical imaging across their campuses. Another 700 hospitals have joined the network to exchange those images with other members, for a combined total that exceeds 1,100, or nearly one in five registered U.S. hospitals. The 90,000 lifeIMAGE clinical users represent all 50 U.S. states and more than 90 countries. In total, healthcare providers so far have shared more than two billion medical images through the lifeIMAGE network. About lifeIMAGE lifeIMAGE provides a medical image exchange platform that is deployed at hundreds of leading healthcare organizations to facilitate the secure, e-sharing of medical imaging information among hospitals, radiology groups, physicians and patients. Our services are helping providers improve the quality and timeliness of care, expand referral business, and eliminate wasteful spending. About Zaffre Investments Zaffre Investments, LLC is a wholly-owned subsidiary of Blue Cross Blue Shield of Massachusetts that is committed to adding value through investments in new products, services and technologies that aim to improve the way healthcare is delivered and received. Zaffre focuses on companies across the healthcare landscape, with a primary focus on ACOs, consumer solutions, health information technology, and behavioral health. The firm is stage agnostic, considering a company’s financial and market positions, capabilities, and core values, as well as their missions and visions for the future. Zaffre employs a true partnership model for its portfolio companies, providing strategic direction, business support, industry connections and more.

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LifeImage scores $5 mln from Zaffre Investments

Phynd Tech raises $1.1 mln

Phynd Technologies Inc. said Wednesday it raised $1.1 million in Series A funding led by by Dallas Venture Partners. Also participating were serial angel investor Tony Morris, as well as Phynd’s existing seed investors. Kearny, Nebraska-based Phynd is an healthcare application service provider. PRESS RELEASE KEARNEY, NE (PRWEB) SEPTEMBER 23, 2015 Phynd Technologies, Inc., a leading healthcare application service provider, announced it has secured $1.1M in Series A equity funding to accelerate the growth of its Unified Provider Management (UPM) Platform. The investment, which was oversubscribed, was led by Dallas Venture Partners, and includes participation from Boston-based serial angel investor Tony Morris, as well as all existing seed investors. This brings total investment in the company to $3.1M. Phynd will use the new funds to expand its support, sales and marketing efforts. Phynd (pronounced “find”) works with hospitals across the country, ranging from community hospitals to large academic multi-facility health systems, to create a single operational provider profile for the enterprise. This in turn improves revenue cycles and clinical communications for the organization, and also lowers the cost of managing provider data across hospital silos. Phynd’s installed customer base includes 74 hospitals, bringing the total number of physicians managed through the Phynd network to more than 240,000 or one-third of all doctors in the U.S. “Our solution has resonated with IT administrators who have to deal with bad provider data, and we have had tremendous lift this year,” said Tom White, CEO of Phynd. “We recently added six new health systems to our platform and have a growing pipeline. These funds will enable us to extend our reach while continuing to provide top notch service to our existing customers.” In conjunction with the financing, Jim Duda, Managing Partner of Dallas Venture Partners, will join the Phynd Board of Directors. “We are excited to be part of the Phynd story,” said Duda. “Phynd is part of a growing network of health IT innovators who are solving large data problems and complementary to other investments we have in this arena. Everyone deals with data integrity, and hospitals are notorious for having data in silos. Phynd is the first solution we’ve seen to offer a true single source of the truth.” About Phynd Technologies, Inc. Launched in 2013, Phynd (http://www.phynd.com) provides a Unified Provider Management (UPM) Platform that enables healthcare organizations to unify, manage, customize, and share essential provider information across their core IT systems to improve clinical outcomes and financial results. The Phynd platform is now used in over 74 hospitals enterprise-wide to speed billing, optimize the revenue cycle, streamline workflow, improve productivity, and enhance care coordination. Phynd is headquartered in Kearney, NE, with executive offices in Dallas, TX, and was created by the co-founder of Vocada. About Dallas Venture Partners Dallas Venture Partners (DVP) is a privately held investment firm with offices in Dallas and Des Moines that provides seed and early stage investment for technology entrepreneurs. DVP promotes collaboration and strives to foster long term relationships with its portfolio companies, as well as with the broader venture community. In addition to Phynd, DVP’s healthcare IT investments include Zest Health and Averify.

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Phynd Tech raises $1.1 mln

Bridge Bank launches the Life Sciences Group

Bridge Bank said Wednesday that it launched the Life Sciences Group. The unit will offer customized financial solutions to companies in the life sciences sector, including biotech, medical devices and pharma verticals. The Life Sciences Group will provide term and revolving debt to life sciences companies for a variety of purposes including growth and working capital, refinancing, restructuring, recapitalization, as well as M&A. The group will be led by Robert Lake who was previously an executive director at Oxford Finance LLC. PRESS RELEASE SAN JOSE, CA–(Marketwired – Sep 23, 2015) – Bridge Bank announced today the launch of a new banking group — Life Sciences Group (LSG) — which will offer customized financial solutions to companies operating in the life sciences sector, including within the biotech, medical devices and pharma verticals. The Life Sciences Group will focus on providing term and revolving debt to life sciences companies for a variety of purposes including growth and working capital, refinancing, restructuring, recapitalization, as well as for financing mergers and acquisitions. In addition to providing tailored credit solutions, LSG will offer the full complement of Bridge Bank’s financial solutions including treasury management and international banking services. “Life sciences companies often face a unique set of uncertainties,” said Thomas A. Sa, executive vice president and head of Bridge Bank’s business lines. “With our experience as a leading lender to technology companies who face their own unique challenges, and the addition of Robert Lake and his team’s track record, we are well-positioned to help life sciences companies navigate those uncertainties, allowing them to stay focused on the development, approval and growth of their products,” added Sa. Based in San Diego and offering financial solutions to companies nationwide, Bridge Bank’s Life Sciences Group will be led by Robert Lake, a veteran lender with nearly 20 years of commercial lending experience specializing in venture-backed life sciences, technology and healthcare services companies. Before joining Bridge Bank, Mr. Lake was executive director at Oxford Finance LLC where he managed and assisted in the growth of the firm’s portfolio in the western regions of North America. Mr. Lake has also held leadership positions at Silicon Valley Bank, Fifth Third Bank and the American Medical Association. He received his B.A. in Business Administration from Aurora University. “Bridge Bank has built a superior platform and reputation, having banked a portfolio of high-profile tech companies throughout the country,” said Robert Lake, senior vice president and head of Bridge Bank’s Life Sciences Group. “The opportunity to extend the Bridge Bank brand into the life sciences sector is tremendous, and the synergies across the bank’s business lines will represent a true value-add to our life science clients,” added Lake. Bridge Bank also recently announced the formation of its Equity Fund Resources group, whose purpose is to develop an eco-system of centralized resources to both private investors and Bridge Bank clients, including life sciences companies. Robert Lake can be reached at rob.lake@bridgebank.com, or by calling 858.523.4686. About Bridge Bank Bridge Bank is a division of Western Alliance Bank, the go-to-bank for business in its growing markets. Bridge Bank was founded in 2001 in Silicon Valley to offer a better way to bank for small-market and middle-market businesses from across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank offers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, sustainable energy project finance, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has eight offices in major markets across the country along with Western Alliance Bank’s robust national platform of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. With more than $10 billion in assets, Western Alliance Bancorporation (NYSE: WAL) is one of the fastest-growing bank holding companies in the U.S. For more information, visit www.bridgebank.com.

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Bridge Bank launches the Life Sciences Group