VidiStar LLC will receive an investment today from SCRA affiliate SC Launch! VidiStar provides physicians with an affordable, easy to use solution for their clinical practice. VidiStar’s online reporting system conforms to the Digital Imaging and Communications in Medicine (DICOM) structure reporting standard which auto-populates complex data from imaging devices, such as ultrasound machines, into customized reports for efficient processing and reporting. VidiStar’s cost-effective technology allows physicians and heath care providers to quickly review and interpret diagnostic studies, such as echocardiograms or fetal ultrasounds scans, from their office or anywhere in the world using a secure Internet connection – regardless of a physician’s location.
“We are very excited about becoming an SC Launch! Portfolio Company,” said Paul McHugh, managing partner of VidiStar.”The SC Launch! program is a catalyst for supporting the long-term growth of companies such as VidiStar,LLC. In addition to the funding, Vidistar sees this as a stamp of approval of their product and business plan, and our company has already benefited from working with SCLaunch!’s vetted network, which is enabling VidiStar to optimize its resources and focus on sales.”
The VidiStar management team has more than 15 years of expertise in medical imaging technology, regulatory affairs and government regulation, and includes board-certified medical professionals, including a practicing cardiologist with experience in echocardiography, nuclear cardiology and cardiovascular technology. The team brings more than 30 years of international and domestic sales experience to the venture.
“To SCRA and SC Launch, the VidiStar investment aligns closely with our multi-lateral efforts with Clemson University, The Medical University of South Carolina, The University of South Carolina and Health Sciences South Carolina to bring better patient care to South Carolina,†said Bill Mahoney, SCRA CEO. “The joint focus of these organizations in diagnostics, therapeutics and clinical applications leads directly to both improved care and leadership commercialization outcomes such as VidiStar.â€
SC Launch! has identified VidiStar as a promising South Carolina start-up company and is assisting them with a seed-capital investment, ongoing mentoring and SC Launch! Resource Network services. Since its inception in April, 2006, SC Launch! has provided more than 118 companies with seed funding in the form of grants, loans or equity investments and provided counsel and support to more than 99 start-ups. The average salary of jobs created to date by these start-ups is $77,091. Additionally, SC Launch!-supported companies have secured more than $50 million in follow-on venture capital and private equity financing.
via: SC Launch!
