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SC Launch Presents 2nd Investment to VidiStar, LLC

Submitted by: Ashley Hannah on Feb 16, 2011 at 1:56 pm Tagged with: Knowledge Economy, Medical Device, SC Launch Source: SCRA

GREENVILLE, SC – February 15, 2011 – SC Launch, an SCRA affiliate, presented a second round of investment to Greenville-based Portfolio Company, VidiStar LLC.

VidiStar provides physicians with an affordable, easy to use solution for their clinical practice. VidiStar’s online reporting system conforms to the Digital Imaging and Communications in Medicine (DICOM) structure reporting standard which auto‐populates complex data from imaging devices, such as ultrasound machines, into customized reports for efficient processing and reporting.

The company offers a cost‐effective technology that allows physicians and health care providers to quickly review and interpret diagnostic studies, such as echocardiograms or fetal ultrasounds scans, from their office or anywhere in the world using a secure Internet connection ‐ regardless of a physician’s location.

VidiStar headquarters are located in Greenville, South Carolina. The company has numerous customers throughout South Carolina and has also launched international operations from an office in Poland.

"We are pleased to be a Portfolio Company in the SC Launch program and appreciate this additional recognition and support as we continue to grow," said Craig Walker, a partner of VidiStar. "This round of investment allows us to meet not only our operational goals for 2011 but also company milestones set for our continued, strategic growth.”

The VidiStar management team has more than 18 years of expertise in medical imaging technology, regulatory affairs and government regulation, and includes board‐certified medical professionals, including a practicing cardiologist with experience in echocardiography, nuclear cardiology and cardiovascular technology. The team brings more than 30 years of international and domestic sales experience.

“VidiStar’s novel technology and management expertise continue to prove that home grown knowledge-based companies can bring economic benefit to South Carolina,” said Bill Mahoney, SCRA CEO. “We congratulate VidiStar on their continued success as the company not only meets their targeted goals, but contributes to the state’s Knowledge Economy and provides quality jobs and technology for South Carolinians.”

SCRA has provided funding and support, through its SC Launch program, for 188 qualified entities since its inception in 2006. The SC Launch program has attracted more than $104 million in add-on, private equity investment funding in South Carolina knowledge-based, start-up companies.