This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Safeguard Scientifics Deploys $1.33 Million Into Sotera Wireless

Safeguard Scientifics, Inc. (NYSE: SFE), a holding company that provides growth capital and operational support to healthcare and technology companies, deployed $1.33 million as part of a $14.8 million financing for Sotera Wireless, Inc., a San Diego, Calif.-based medical device company that has developed a new wireless patient monitoring platform called ViSi Mobile ®. Sotera will use the proceeds from this financing to build out its sales network and channel distribution partners.

In addition to Safeguard, participants in this round included new investor Delphi Ventures and existing investors Sanderling Ventures, Qualcomm Incorporated acting through its venture investment group Qualcomm Ventures, EDBI, Intel Capital, Cerner Capital and West Health Investment Fund.

Sotera’s ViSi Mobile platform is a comprehensive vital signs monitoring system that is designed to keep clinicians connected to their patients, whether in or out of bed, or while in transport—“monitoring in motion.” Featuring comfortable body-worn sensors that allow for freedom of movement, the system enables highly accurate, continuous monitoring of all vital signs. The ViSi Mobile system offers an effective, economical solution to enable hospitals to monitor their entire patient population in real time. By some estimates, around 60 percent of the approximately 1,000,000 U.S. hospital beds are not continuously monitored. As a result, an avoidable death occurs every five minutes at U.S. hospitals due solely to inadequate patient monitoring. Global demand could significantly increase that opportunity.

“Sotera is led by an experienced management team of healthcare and business professionals who have a track record of building successful businesses,” said James A. Datin, Executive Vice President and Managing Director at Safeguard, who joined Sotera’s board of directors. “We believe that Sotera’s ViSi Mobile addresses a large market, with the opportunity to revolutionize the way hospitals monitor patient vital signs. ViSi Mobile fills an unmet medical need, has the potential to reduce healthcare spending, and can rapidly improve patient management while achieving significant growth. Through this financing, we can provide Sotera with the necessary resources to help increase ViSi Mobile’s penetration into hospitals throughout the United States, and encourage the development of other, complementary products that build upon Sotera’s proprietary technology.”

“With $14.8 million in additional capital, we believe that we can accelerate our commercialization and clinical development, and expand the availability of ViSi Mobile to the more than 5,000 hospitals in the United States,” said Tom Watlington, CEO of Sotera. “In addition, we are excited that Safeguard has joined our board of directors. Safeguard is a highly-respected organization with an impressive track record backing successful medical device commercialization and marketing efforts, and we look forward to the value they can bring to us through their domain expertise and partnership.”

Safeguard has a 7.7 percent primary ownership stake in Sotera, with the potential to raise that ownership stake to 20 percent in certain scenarios.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs