June 2013 – COMS Interactive, LLC, a clinically-focused Software as a Service (SaaS) business, completed an equity financing of $21 million with Summit Partners to better position the company for rapid growth. A portion of the capital will be used for redemption of COMS common stock holdings. The professionals at Carleton McKenna served as the exclusive financial advisor to COMS in the capital raise process.
“The additional capital resources provided by Summit Partners will support further expansion of the COMS products and service offerings in the Skilled Nursing, Assisted Living and Home Care markets,” noted Edward J. Tromczynski, Chief Executive Officer, COMS Interactive, LLC. “Carleton McKenna delivered significant value to the COMS shareholders. Their industry knowledge, dedication, and insight throughout the process were essential to achieving an outcome much better than we could have realized had we not engaged the firm. We are now well-positioned with a strong financial partner to capitalize upon our growth strategy.”
About COMS Interactive, LLC
COMS Interactive, LLC offers a software-based care management system of integrated clinical and management tools. The company’s flagship product, Daylight IQ, is a fully automated SaaS solution that combines disease management, long term healthcare knowledge and business administration to reduce unnecessary hospital readmissions, improve resident healthcare and increase facility revenue. Based upon principles of disease care management and standardized nursing processes which identify and address changes in condition at the point of care, Daylight IQTM dramatically improves both clinical and financial outcomes across the post-acute care continuum.
About Summit Partners
Summit Partners is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised nearly $15 billion in capital, and provides equity and credit for growth, recapitalizations, and management buyouts. Summit has invested in more than 365 companies globally in technology, healthcare and other growth industries. These companies have completed 130 public offerings, and more than 135 have been acquired through strategic mergers and sales. Notable investments in the healthcare and software sectors include: Diagnostic Hybrids, GoldenGate Software, HealthCare Partners, Heart to Heart Hospice, Hyperion Software, McAfee, MDVIP, Postini, RightNow Technologies and Solutionreach. Summit Partners maintains offices in Boston, Menlo Park, London and Mumbai.
About Carleton McKenna & Co.
For more than thirty years, Carleton McKenna & Co. and its predecessor firms have been providing merger and acquisition advisory, capital raising and valuation services for small to mid-cap regional clients – both public and private – with expertise across a broad array of industries. For further information about Carleton McKenna & Co., please visit www.carletonmckenna.com.
If you would like more information about this transaction, please contact the following registered representatives*:
*Securities placed through Financial America Securities, Inc., which is a member of FINRA/SIPC