Intouch Health completes $10M private placement through Beringea-led financing round

May 3 2010

InTouch Technologies®, Inc. (d.b.a. InTouch Health®), the world leader in Remote Presence Total Telemedicine solutions, announced today the completion of a private placement of $10 million. The financing round was led by Michigan-based Beringea through its InvestMichigan! Growth Capital Fund, which provides venture and expansion-stage capital to businesses with operations in Michigan. The Company's largest investor, Galen Partners, led the returning insiders in providing the remainder of the round, which included InvestCare Partners and Twenty One East Victoria Investments among others. The growth capital raised will help support the acceleration of the Company's commercial and product development plans, as well as infrastructure investment in preparation for a public offering.

“With over 10,000 Remote Presence sessions per quarter, InTouch technology is emerging as a mainstream tool in healthcare delivery.”

InTouch Health provides comprehensive telehealth solutions that allow physicians to remotely perform complete and real-time consults with hospital patients by removing time and distance barriers. With expertise available at a moment's notice, Remote Presence allows for innovative healthcare delivery models leading to improved quality of care. The Company partners with health systems, hospitals, and physician groups to build sustainable telemedicine programs that yield outstanding clinical outcomes and financial results. There are more than 300 hospital locations enrolled in its Remote Presence telemedicine network.

"InTouch has emerged as a clear leader in telemedicine with unique endpoint devices, best-in-class connectivity solutions, and clinical protocols that provide superior patient care while driving cost out of the health care system," said Michael Gross, managing director at Beringea. "With over 10,000 Remote Presence sessions per quarter, InTouch technology is emerging as a mainstream tool in healthcare delivery."

"Healthcare reform is driving the need for a new modality of healthcare delivery across the country. We believe that Remote Presence solutions will play a big role in this reform," commented Dr. Yulun Wang, Chairman and CEO of InTouch Health. "This capital allows us to accelerate the development of our product roadmap, as well as expand our market presence domestically and internationally."

Piper Jaffray served as the Company's advisor and sole placement agent on this financing.