Shareable Ink Closes $4.5 Million Series A Preferred Financing

NASHVILLE, TN, Nov 09, 2010 (MARKETWIRE via COMTEX) -- Shareable Ink, the leading provider of enterprise-grade digital pen and paper applications for healthcare, today announced that it has closed a $4.5 million Series A Preferred financing round with a syndicate of veteran healthcare investors, including Heritage Group, The Martin Companies, Nashville Capital Network, Founder Collective, and Chip Linehan, who is a special partner at New Enterprise Associates, among other prominent healthcare investors. David McClellan and Hal Andrews have joined the company's Board of Directors.

Shareable Ink provides a software platform that enables healthcare organizations of all sizes to transition to electronic health records without disruption to workflow or burdensome IT projects. Shareable Ink instantly converts handwritten information on paper forms to discrete data for electronic health records and other information systems. In addition, Shareable Ink provides analytical tools that effortlessly "data mine" paper records. The result is a solution that keeps physicians and nurses highly productive while helping their organizations transition to more electronic and actionable healthcare information.

"Shareable Ink represents both an innovative and pragmatic approach to addressing some common healthcare IT challenges without requiring wholesale re-engineering of work processes," said David McClellan. "We are very impressed with Shareable Ink's team, technology, and ability to make a meaningful impact to healthcare in this country."

In the last year, Shareable Ink has won substantial contracts with customers that have traditionally been resistant to electronic health records (EHRs), such as emergency medicine, anesthesia, and hospitalist medicine. Most recently, Shareable Ink formed a strategic partnership with T-System, the market leading emergency department documentation vendor with over 1,700 hospital customers in the United States.

"We are thrilled to have assembled a healthcare-savvy syndicate of funding partners," said Stephen S. Hau, President and CEO of Shareable Ink. "The proceeds from this financing will allow Shareable Ink to meet escalating market demand, fuel further product innovation, and support our growing customer base."

About Shareable Ink Shareable Ink helps healthcare organizations of all sizes transition to electronic health records without disruption to workflow or burdensome IT projects. Its software platform incorporates enterprise-grade digital pen and paper technology featuring Anoto functionality. Shareable Ink enables clinicians to continue documenting in the fastest, most natural manner, while populating the EHR with discrete data, as if typed with a keyboard. Built-in analytics give hospitals and practices insight into their operations -- from a clinical, quality and efficiency standpoint -- all previously inaccessible from traditional paper records. For additional information, visit www.shareableink.com.



Media Contact:
Suzanne Cogan
Shareable Ink
Vice President of Sales & Marketing
877-572-7423 x802
Email Contact

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