Teaser Text: Florida company recognized for its innovative technology, solid growth
Category: Stonehenge News
Tampa, FL – April 28, 2014 - Stonehenge Growth Equity Partners (SGEP) announces its investment in MobileHelp, recognized as the most advanced and reliable mobile medical alert system available today. Based in Boca Raton, Florida, MobileHelp is the only mobile medical alert system that has attained FDA registration.
“MobileHelp is a good fit for our investment strategy," said Steven Lux, managing partner of Stonehenge Growth Equity Partners. “In addition to their innovative technology, MobileHelp has demonstrated a history of solid growth and a scalable recurring revenue business model. We wholeheartedly congratulate the founders and leadership team at MobileHelp on their success and look forward to working with them to continue to grow their business."
“With an expanding aging population that is more mobile than in past generations and the increasing cost of health care, we see a huge opportunity for MobileHelp,” Lux adds. “There is no doubt that their continued innovation improves the quality of life and encourages the elderly to live in their own homes as long as possible.”
“We are excited that Stonehenge is our new institutional investor,” said Robert Flippo, CEO. “With this transaction we were able to gain a partner with deep expertise in successfully building and scaling high growth companies, particularly in the area of Healthcare IT. The investment also enabled us to provide some liquidity to early investors. MobileHelp will continue to be on the forefront of introducing innovative solutions to enable our customers to take control of their own health management.”
Lux says MobileHelp is a perfect example of what SGEP looks for in a company – both characteristically and geographically. SGEP focuses on technology-enabled growth stage companies, often at the intersection of healthcare and information technology. The firm concentrates on Florida and the Southeast, areas recognized as rich breeding grounds for innovation, but lacking local investment capital.
About Stonehenge Growth Equity Partners
Since 1999, the team at Stonehenge Growth Equity Partners (SGEP) has been investing in growth stage businesses. By developing trusted relationships with experienced entrepreneurs, SGEP supports its portfolio companies through the most dynamic phases of their lifecycles. Based in Tampa, FL, SGEP invests in companies where an entrepreneur is applying proven technology to solve a business problem. These technology-enabled businesses, typically located in the southeastern United States, generate at least $3M of revenue and are profitable. Our target investment size is $1M to $5M in each portfolio company. For more information, visit www.StonehengeGrowthEquity.com.
MobileHelp is America's leading provider of M-PERS (Mobile-Personal Emergency Response System) technology based in Boca Raton, Florida and services clients in all 50 states. MobileHelp develops and distributes market leading products such as Cellular DUO, the first and only fully integrated medical alert system with GSM/GPS technology which provides an in-home cellular base station and a mobile device to protect customers away from home; and the Cellular Classic system, an in-home cellular based Medical Alert System. MobileHelp’s M-PERS devices are integrated with nationwide wireless voice, data and GPS technology to provide real-time medical monitoring services and location tracking for expedited personal emergency assistance. MobileHelp also offers Fall Button™, an automatic fall detection pendant and MobileHelp Connect™, an innovative event notification and web portal for customers, families and caregivers. MobileHelp has built a reputation for quality and affordable solutions for personal protection and peace of mind in or away from home and is the first FDA registered mobile medical alert system provider. For sales or more information about MobileHelp, call 800-989-9863 or go online to www.MobileHelp.com.