Mon, 07/01/2013 - 10:01
Riverside Partners, a Boston-based private equity firm, has completed an investment in Stinger Medical, a provider of mobile clinical workstations and medical technologies.
Riverside Partners' investment was completed in partnership with the Stinger management team and the founder of the business.
Headquartered in Murfreesboro, Tennessee, Stinger Medical provides mobile medical workstations and related technologies for the acute care market. Stinger has a long history of innovation in the medical cart industry. Its team is dedicated to creating products that streamline workflow processes, reduce errors, enhance the quality of patient care and help providers comply with meaningful use guidelines. Stinger's proprietary Mobius Power solution and its fleet tracking technology, CAST, also enhance provider care to patients.
"Given the rapidly evolving dynamics of today's healthcare ecosystem, Stinger was looking for an investment partner not only to help us grow, but also to help us navigate the increasingly complex healthcare IT market. We believe that Riverside Partners' focus on technology investing as well as their deep expertise in healthcare makes them the perfect combination," says Gary Coonan, founder and chief executive of Stinger Medical. "We are already beginning to benefit from the healthcare operating resources that come with our partnership with Riverside Partners."
"Stinger Medical is clearly the innovation leader in the mobile clinical workstation industry and the company continues to develop advanced new technologies for this rapidly growing market. Stinger's products are pivotal in helping hospitals effectively deploy electronic health records and improve caregiver workflow and patient care," says Philip Borden, general partner at Riverside Partners. "And Stinger's strong commitment to R&D makes us even more excited about the future of technology integration with providers."
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