Friday, February 27, 2015
Arsenal Capital Management (ACM), the St. Louis-based venture capital firm led by Pete Reinecke, has invested $750,000 in an Ohio-based IT startup redesigning the discharge and care transition process for hospitals and patients.
"Helping patients achieve a better outcome while lowering readmission risk and thereby healthcare costs is a primary objective of the Digital Discharge program," Reinecke said in a statement. "We believe Joe and his team are on the right path to achieving that goal."
ACM also announced its annual investment totals Thursday. In 2014, the firm raised $15.7 million and invested $14.7 million in eight portfolio companies. That's up from the $14.5 million raised and $14.1 million invested in 2013.
ACM's portfolio includes St. Louis patent-process startup Juristat, which ACM helped raise $1.2 million in late 2014 and early 2015; KEW Group, a Boston-area biotechnology company that raised $16.8 million in a deal announced in January; and Kypha, a St. Louis medical device startup developing a test to monitor inflammation that raised $3.5 million in November.
St. Louis-based Appistry and Clearent are also portfolio companies.
ACM hit it big with Newsy — the Columbia, Missouri, startup acquired for $35 million by E.W. Scripps in December 2013. Reinecke said the fund returned $11 million on its $3 million investment in that deal.
Source : http://www.bizjournals.com/
