|By PR Newswire||
|August 19, 2014 06:00 AM EDT||
MENLO PARK, Calif., Aug. 19, 2014 /PRNewswire/ -- HealthQuest Capital (HQC), a new Menlo Park based fund sponsored by Sofinnova Ventures, today announced the closing of its debut fund at the hard cap of $110 million and in excess of the initial fund target of $50 million.
HealthQuest will fund investments in the medical device, diagnostics, patient care products, consumer health/OTC and healthcare IT fields. HQC will focus primarily on commercial stage investments, providing capital towards growing revenues and scaling existing businesses in promising sectors.
"HealthQuest is focused on funding innovation that can be quantified in terms of both improvements in patient outcomes as well as healthcare economics. We believe these opportunities can deliver valuable medical advances that translate into excellent financial returns," commented HealthQuest Founding Managing Partner, Garheng Kong, MD, PhD. "We are excited to launch our debut fund, and appreciate the support of our investors for the HealthQuest strategy and team." HealthQuest's approach will also involve targeting areas of healthcare where there is clear unmet clinical need for innovation as well as undercapitalized geographies.
HealthQuest Capital was founded by Dr. Kong in 2013. An experienced and proven investor in the healthcare sector since 2000, Dr. Kong was a General Partner at Sofinnova Ventures and Intersouth Partners. Some of his investments include Cellective Therapeutics (founding investor and Chairman, acquired by AstraZeneca), Novamin Technologies (Chairman, acquired by GlaxoSmithKline), Cempra Pharmaceuticals (Chairman), Serenex (Chairman, acquired by Pfizer) and Alimera Sciences. Recent investments include Histogenics (Chairman), Salveo Specialty Pharmacy, SARcode Bioscience Inc. (acquired by Shire), First Aid Shot Therapy (F.A.S.T.) and Castle Biosciences. Dr. Kong also sits on the board of Laboratory Corporation of America and the Duke University Medical Center Board of Visitors.
The HealthQuest investing team includes Partner Randy Scott, Founder and CEO of Novamin Technologies (acquired by GlaxoSmithKline); Partner David Kabakoff, PhD, Co-founder, CEO and Chairman of Salmedix (acquired by Cephalon) and Chairman of Trius (acquired by Cubist); and Venture Partner Tom Callaway MD, President and Founder of Life Science Partner, a leading life science executive search firm. Combined, the full team has significant investing and operating experience in the businesses with which HealthQuest will partner.
HealthQuest's initial portfolio includes Vestagen, a manufacturer and marketer of advanced performance textile products and technologies for the hospital and healthcare setting, First Aid Shot Therapy (F.A.S.T.), which is developing and commercializing a comprehensive portfolio of liquid 'shot' OTC pharmaceutical products, and Castle Biosciences, which is commercializing a series of diagnostic tests for orphan cancers.
About HealthQuest Capital:
HealthQuest Capital makes go-to-market and early growth investments in innovative healthcare companies that are improving both patient outcomes and healthcare economics. Investments focus on the medical device, diagnostics, patient care products, consumer health/OTC and healthcare IT fields. The HealthQuest investing team includes deep operational, clinical and scientific expertise and worldwide relationships throughout the healthcare industry that can be leveraged to add value to our portfolio companies. HealthQuest is part of the Sofinnova Ventures network, which has been making venture investments worldwide for over 40 years, backing some of the most exciting and successful innovators in healthcare. HealthQuest Capital is headquartered in Menlo Park, CA with offices in Southern CA, Florida, and Georgia. www.healthquestcapital.com.
Partner – Investor Relations and Marketing
(650) 681-8429; [email protected]
SOURCE HealthQuest Capital
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Oct. 28, 2016 06:45 AM EDT Reads: 1,252
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
Oct. 28, 2016 06:30 AM EDT Reads: 1,183
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Oct. 28, 2016 06:30 AM EDT Reads: 1,049
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
Oct. 28, 2016 06:15 AM EDT Reads: 1,303
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Oct. 28, 2016 06:00 AM EDT Reads: 2,195
Qosmos, the market leader for IP traffic classification and network intelligence technology, has announced that it will launch the Launch L7 Viewer at CloudExpo | @ThingsExpo Silicon Valley, being held November 1 – 3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The L7 Viewer is a traffic analysis tool that provides complete visibility of all network traffic that crosses a virtualized infrastructure, up to Layer 7. It facilitates and accelerates common IT tasks such as VM migra...
Oct. 28, 2016 05:45 AM EDT Reads: 608
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, discussed how the ability to access and analyze the massive volume of streaming data from millio...
Oct. 28, 2016 05:00 AM EDT Reads: 3,199
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
Oct. 28, 2016 04:45 AM EDT Reads: 711
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Oct. 28, 2016 04:30 AM EDT Reads: 1,982
Enterprises have been using both Big Data and virtualization for years. Until recently, however, most enterprises have not combined the two. Big Data's demands for higher levels of performance, the ability to control quality-of-service (QoS), and the ability to adhere to SLAs have kept it on bare metal, apart from the modern data center cloud. With recent technology innovations, we've seen the advantages of bare metal erode to such a degree that the enhanced flexibility and reduced costs that cl...
Oct. 28, 2016 04:15 AM EDT Reads: 681
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
Oct. 28, 2016 04:15 AM EDT Reads: 1,558
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
Oct. 28, 2016 04:15 AM EDT Reads: 1,153
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Oct. 28, 2016 04:15 AM EDT Reads: 4,146
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Oct. 28, 2016 02:45 AM EDT Reads: 1,789
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 28, 2016 02:30 AM EDT Reads: 1,192