HealthMedX sells, names national health care exec CEO

Ozark-based home care software developer HealthMedX announced Dec. 14 that as part of an acquisition by two private equity groups it has named Pamela Pure, former president of McKesson Technology Solutions, its CEO. Pure was named one of Modern Healthcare’s Top 25 Most Influential Women in Health Care in 2005, and in 2008, CNNMoney.com listed her as the No. 16 Highest Paid Woman. That year, Pure earned $10.2 million, including her severance package, according to the rankings.

Pure comes on board via Spectrum Equity Investors and Trident Capital, which together acquired HealthMedX Inc. for an undisclosed amount. The equity groups became majority shareholders of the newly formed HealthMedX LLC. Also in the deal, Vince Estrada, the former executive vice president and chief financial officer of Baltimore-based Visicu Inc., was named HealthMedX’s chief financial officer. Visicu offers remote monitoring systems and support services for intensive care units.

HealthMedX co-founders Charlie Daniels and Dan Cobb will retain their positions of president and chief technology officer, respectively, while the firm’s former CEO, Jim Atteberry, another co-founder, will serve as a strategic adviser to the company.

Following her exit from McKesson in March 2009, Pure said she worked as a case manager of sorts for three members of her family who had suffered life-threatening health events.

Through her experience, she learned first-hand some of the issues associated with managing people as they recover from intensive procedures, go through rehabilitation and receive home care services.

“My mom had some very invasive surgeries following a cancer diagnosis. My father-in-law had a heart attack in the driveway and had a triple bypass and went through recovery in our home. And then my mother-in-law had a stroke. So, in a nine-month period, I went from being a health care technology executive to the rehab and post-acute care coordinator for my parents,” Pure said.

She said she was managing the records of her family members’ care through Microsoft Word, Office and Excel software, and felt there had to be a better way.

Based on her experience, Pure said she started working on a business plan to get more technology into the post-acute care environment to support patients and families. She began talks with health care-focused private equity firms Spectrum Equity Investors and Trident Capital to see if there were any products or companies in the market to accelerate their growth or expand their offerings. She then was introduced to HealthMedX’s founders – Atteberry, Cobb and Daniels – this summer.

“We began talking to the founders there about the current business and the growth and opportunity they saw, and strategically, we had a common view of the need for technology in the post-acute care setting,” Pure said. “Those initial conversations about how we could work together ultimately led to the transaction.”

In July, HealthMedX announced plans to add 65 jobs and spend $1 million on capital improvements. Pure said she expects more jobs to be added in 2012, but said those details are in flux.

Earlier this month, another area technology firm also received a private equity investment that could significantly change its scope and reach in 2012.

On Dec. 6, Springfield-based Dealer Uplink LLC, a company that specializes in QR code and marketing services for automotive dealers, announced it had undergone a $1 million capitalization by its founding partners.

As a result of the equity investment, the nine-month-old company plans to add 50 technical, marketing and sales jobs during the next three years. The majority of the positions will be added in Springfield, but jobs also will be added in Dallas; Orlando, Fla.; Denver; Boston; Charlotte, N.C.; Newport Beach, Calif.; and Philadelphia.   

Dealer Uplink was started by Jay Martinez of equity firm Fortune Development Group and George Lamelza of Team Media, a Web design and marketing company. Dealer Uplink utilizes QR codes, which are two-dimensional bar codes that can be scanned by smart phones, to link users to Web sites or information about products and services.

Martinez said the company’s niche, however, is in its use of what they call “dynamic” QR codes. Through a network that auto dealers can join, Dealer Uplink’s clients can customize vehicle information and links though a single reusable code placed on reversible stock stickers.

“We’re giving the clients or the dealerships the ability to control what they want to do with the bar code instead of the reverse way,” Martinez said.  

Martinez and Lamelza said they are working now to secure a distribution partner for its technology. The firm currently operates in 28 regions throughout North America.[[In-content Ad]]