Navigation Links
Diagnosoft(R) Secures $4 Million in Financing and Appoints a New President and CEO
Date:1/29/2009

MORRISVILLE, N.C. and PALO ALTO, Calif., Jan. 29 /PRNewswire/ -- Diagnosoft, Inc., an innovator in magnetic resonance (MR) image analysis software that assists in diagnosis, staging and therapeutic monitoring of cardiovascular disease, has announced the closing of $4 million in Series B financing led by Technology Development Fund (TDF) of Cairo, Egypt. The company intends to use the new capital to support further market expansion of Diagnosoft(R) HARP(TM), Diagnosoft(R) PLUS, and Diagnosoft(R) SENC. The capital infusion will also serve to further the development of other innovative MR image analysis technologies designed to increase physician productivity and accuracy, improve patient outcomes, and enhance research and drug development advances.

"When cardiologists and radiologists can make a decision about the condition of a patient's heart based on quantitative data obtained from cardiac MRI analysis, rather than just 'eyeballing' images," said Diagnosoft Co-Founder Dr. Matthias Stuber, "they can come to a faster conclusion that's substantiated, not subjective. When diagnosis and treatment is supported by the numerical data our software provides, it's stronger from a legal standpoint as well."

According to Dr. Jerry Prince, Diagnosoft co-founder and colleague of Dr. Stuber at Johns Hopkins University, "There are many techniques for analyzing the left ventricle of the heart -- ECHO, nuclear medicine, CT, and so -- but we are focused on the emerging technology of MRI for the cardiac market. We are kind of a one-stop shop for innovative analysis of the four magnetic resonance imaging techniques -- CINE, perfusion, delayed enhancement or viability, and function or strain. Diagnosoft is the only company directly looking at function, to see if the heart muscle is contracting properly; consequently, we are the only ones who can put all four imaging techniques together, and present it to the clinician in a single view."

This unique capability made investment in Diagnosoft an attractive endeavor for TDF. "It seems we are in the midst of a renaissance for cardiovascular MRI. It's amazing how much interest there is in the market -- it's a very good time to be in the market, and we believe Diagnosoft is clearly on the leading edge," said Ahmad Gomaa, fund manager for TDF.

As Dr. Stuber explained, "As cardiovascular medicine grows, it is moving away from being purely reactive -- in other words, once you have an infarct, you start treating it. I believe people with certain known risk factors will undergo cardiovascular testing earlier. Quantitative analysis of myocardial motion will be a crucial factor in being more proactive and informed in risk assessment and early management for heart disease."

To continue Diagnosoft's commitment to cardiovascular imaging advances, the company's board of directors has appointed Firas BenAchour president and CEO of Diagnosoft and a member of the board. With 20 years of healthcare information technology experience, BenAchour will work closely with the executive team to expand and solidify Diagnosoft's position in the marketplace. He started his career in business development, sales and marketing, and quickly moved into executive management. His carrier spans large, small as well as startup companies including HBOC and Per-Se Technologies (both acquired by McKesson), CareFusion (acquired by Cardinal Health), and CareSystems.

"I am delighted to be appointed president and CEO of Diagnosoft, and I am very excited about the opportunities and the growth potential of our company," BenAchour said. "Since joining Diagnosoft, my principal focus has been to establish our growth strategy for the benefit of our clients, employees and investors. We are currently focusing on organizing our client services efforts, establishing our sales and business development processes, solidifying our brand and continuing to make improvement to the quality, usability and reliability of our software solutions."

About Diagnosoft

Diagnosoft, Inc., based in North Carolina and California, is a privately held company specializing in image analysis software that assists in diagnosis, staging and therapeutic monitoring of cardiovascular disease. One of its products, Diagnosoft HARP(TM), is distinguished as the first FDA 510k- cleared software designed for the analysis of tagged magnetic resonance images. The company is focused on improving physician workflow, quantifying decision-making, and enhancing research and drug development advances.

Company founders Dr. Nael Osman and Dr. Jerry Prince, developed HARP technology at Johns Hopkins University (JHU), where they are faculty members. Dr. Matthias Stuber, a company founder who is also on the JHU faculty, brings additional insight and imaging expertise to Diagnosoft. More information about the company's three MRI analysis software products, Diagnosoft(R) HARP(TM), Diagnosoft(R) Plus and Diagnosoft(R) SENC, is available at http://www.diagnosoft.com.

About Technology Development Fund

The Technology Development Fund, http://www.techdevfund.com, is the first technology venture capital fund in the ME. Established in 2004, its current capital base is $50 million. The Fund aims to propel the growth of innovative, startup and early stage companies in the field of information technology. The Fund is managed by one of the leading investment banks in the MENA region, Efg-Hermes, http://www.efg-hermes.com, through its subsidiary Ideavelopers, http://www.ideavelopers.com.

Diagnosoft(R) is a registered trademark of Diagnosoft, Inc. HARP(R) is a registered trademark of Johns Hopkins University. Diagnosoft, Inc. disclaims any proprietary interest in the marks and names of others.

Except for the historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties.

     Contact:
     Firas BenAchour
     1-919-388-9492

'/>"/>
SOURCE Diagnosoft, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. BDSI secures US commercial partnership for BEMA Fentanyl with Meda AB
2. Simplex Diabetic Supply, Inc. Secures $50 Million in Growth Equity from New Enterprise Associates
3. UI licensee Optherion secures $37 million in financing
4. IPS Secures National Contract to Deliver FOCUS Healthcare Provider Network Access to Pain Management Specialists
5. Piedmont Pharmaceuticals Secures $8.5 Million Investment
6. NuView Radiopharmaceuticals, Inc. Secures Exclusive Rights From Thomas Jefferson University for a Tumor-Specific Imaging Agent for the Diagnosis of Breast and Prostate Cancers
7. Alexza Secures $50 Million Committed Equity Financing Facility With Azimuth Opportunity, Ltd.
8. Senetek PLC Announces North American Partner for Invicorp(R) Secures Financing for Advancement of Marketing and Development Efforts
9. SpectraScience Secures Distribution for WavSTAT(R) System in Czech Republic
10. InterCure Secures Nationwide Distribution Agreement With Lloyds Pharmacy Group
11. Asoyia Secures Venture Capital Funding
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/20/2017)... ... January 20, 2017 , ... Michael and Betsy Brauser celebrated 5 years ... Betsy, the clinical trial has been life-saving as she has been on the ... Betsy Brauser was diagnosed with ovarian cancer in 2009. She underwent standard chemotherapy but ...
(Date:1/20/2017)... ... ... Magdalene: Grace is Greater than Sin”: a unique and memorable piece of literature ... Grace is Greater than Sin” is the creation of published author, Brenda Roberts, a ... had little knowledge of the female characters portrayed in the Holy Bible. , ...
(Date:1/20/2017)... ... January 20, 2017 , ... “I Forgive You”: a fine examination of how ... You” is the creation of published author, Stephen Miller, who, for over ten long years ... given to him. Born in Trinidad and Tobago, he has been serving the Lord for ...
(Date:1/20/2017)... ... ... Christmas:” a beautiful and enchanting tale that teaches children the true meaning of Christmas. “Journey ... Oklahoma City, and a devoted woman of faith. , “Becoming a parent changes you. ... of my mind for years, but actually doing it might have been a while in ...
(Date:1/20/2017)... ... , ... “God's Miracle Man: Against All Odds”: an inspiring affirmation of ... Keith C. A. Tucker, son of Minister Delores Pinnock and a Jamaican native who ... Hardy , “While sitting up in bed, I felt a pounding headache. It was ...
Breaking Medicine News(10 mins):
(Date:1/20/2017)... 20, 2017 Research and Markets has ... (by Devices, Implant Types, OTC Amplifiers, Diagnostic Instruments), Sales Volume, ... offering. ... Global Hearing Aids Market Sales Volume, Company Analysis and Forecast ... hearing aid industry. The growing prevalence of hearing ...
(Date:1/20/2017)... 20, 2017  Palladian Health, a leading provider ... launch of an opioid management program which assists ... and helps stem the growing tide of dependence ... treat chronic non-cancer pain (back pain, neck pain, ... lack of evidence regarding long-term effectiveness. ...
(Date:1/19/2017)... Germany Cataract Surgery Devices Market Outlook ... Cataract Surgery Devices Market Outlook to 2022", provides key ... The report provides value, in millions of US dollars, ... segements - Phacoemulsification Equipment and Ophthalmic Viscoelastic Devices (OVD). ... shares data for each of these market segements, and ...
Breaking Medicine Technology: