News
NEWSPRING CAPITAL PORTFOLIO COMPANIES HONORED
BY THE EASTERN TECHNOLOGY COUNCIL
Four NewSpring Capital Portfolio Companies Receive Recognition
King of Prussia, PA – December 5, 2006– NewSpring Capital proudly announces that Matt Gillin, Co-Founder, President and Chief Executive of Ecount, Inc., a Conshohocken, PA based provider of online payments on behalf of major corporations, was chosen Technology CEO of the Year by the Eastern Technology Council, a regional organization that helps member companies make contact with each other to develop solid, profitable relationships.
“I have known Matt a long time and have enjoyed watching him develop into a true leader,” says Michael DiPiano, General Partner of NewSpring Capital. “Ecount is a success in every sense of the word and I am pleased that Matt has been recognized for his achievement.”
In total, ten awards were handed out by the Council. The winners were selected by a panel of judges that was comprised of company executives and venture capitalists. In addition to Ecount, three other NewSpring Capital portfolio companies, TMG Health, Inc., Nitric BioTherapeutics, Inc. and Fiberlink Communications Corp., were recognized by the Council.
TMG Health was named Life Sciences Growth Company of the Year due, in large part, to the Company’s 450% revenue growth from 2001 to 2005. “The accelerated growth at TMG has been driven by the changing dynamics within the delivery and scope of healthcare benefits within the Medicare program and the value Jack Tighe and TMG have delivered to insurers arranging and financing those benefits,” stated Brian Murphy, Partner of NewSpring Capital.
In addition, Nitric BioTherapeutics was named a “Company to Watch,” and Fiberlink was a finalist for Technology Company of the Year.
About Ecount
Ecount provides customized prepaid programs for corporations looking for simple and convenient ways to deliver electronic payments. Ecount's proprietary technology enables complete communication and brand extension coupled with a secure payment vehicle. More than 1,000 leading corporations, including more than one third of the Fortune 100, rely on Ecount's prepaid solutions to gain a strategic advantage in their market.
About TMG Health
TMG Health is the leading provider of Business Process Outsourcing (BPO) services to the Medicare, Medicaid and retiree health plan markets. TMG provides operational outsourcing solutions and information systems for health plans, providers, and employers with large retiree groups. TMG has a broad solution set serving over 40 health plans in all 50 states.
About Nitric Biotherapeutics
Nitric BioTherapeutics is a venture-backed biopharmaceutical company dedicated to exploring medical applications of topically applied gaseous Nitric Oxide (gNO). The Company will conduct clinical trials and commercialize gNO for the treatment of non-healing chronic wounds and for the treatment of other topical medical problems such as post-surgical infections.
About Fiberlink Communications
Fiberlink provides the software and services that enable enterprises to securely mobilize their workforces and strike the best balance of user productivity and IT control. Fiberlink customers include Bloomberg, Continental Airlines, Grant Thornton and Targus Group International. Headquartered in Blue Bell, Pa., Fiberlink has offices throughout North America, Europe and Asia.
About NewSpring Capital
NewSpring Capital, based in King of Prussia, PA, manages a family of private equity funds which provide growth equity and mezzanine debt financing to growth and expansion stage companies with a focus on business services, healthcare, life sciences, specialty manufacturing and technology. NewSpring Capital focuses primarily on businesses in the mid-Atlantic region and invests between $3-$7.5 million per transaction in round sizes up to $30 million.
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