MEMPHIS, Feb. 19, 2019 (INTERNATIONAL RELEASE) – Global Health Impact Fund (“GHIF”) , a rapidly growing boutique venture capital investment fund specializing in digital health and telemedicine, recently closed a Series-A funding on behalf of HanGenixTM Solutions LLC (“HanGenixTM) of Atlanta, GA. The funding will help support HG’s innovative, ultrasound-based hand hygiene technology, developed in conjunction with Massachusetts General Hospital. Poor hand hygiene is the number one cause of spreading infection and it is currently estimated that healthcare organizations are less than 50% compliant with current World Health Organization (WHO) guidelines.
HanGenixTM is helping hospitals improve hand hygiene compliance through real-time feedback to healthcare workers before and after patient contact – according to the WHO Five Moments for Hand Hygiene guidelines – as well as robust analytics for hospital management. The HanGenixTM Compliance Assurance System can help verify compliance with patient-provider protocols to prevent Healthcare-Associated Infections (HAIs). Through HanGenixTM Compliance Assurance data, healthcare institutions now have a reliable means of measuring compliance across entire healthcare systems.
“HanGenixTM offers an almost ideal investment environment for our fund,” says Robert E. “Bob” Sweeney, DA, MS, a Principal of GHIF. “The leadership has over fifty years of experience in hospital-focused business development, their product focuses on a known, serious quality-of-care issue in care delivery, and their board of directors is perhaps the strongest small-company leadership team we’ve encountered in 35 years of interactions with healthcare enterprises.”
Founded in 2018, GHIF raises funds from individual clinical providers and engages their services thereafter as advisors in investment selection and client company performance. The fund targets firms in the digital health and telemedicine industries, the fastest-growing sector of the healthcare market. Fund Principals Gary Goldman, MD, Robert E. Sweeney, DA, MS, and David Goldman rely upon their vast networks of physician and healthcare organizational networks to both identify investors and vet prospects’ investments. Sweeney, who previously served as Senior Vice President and Founding Principal at Team Health of Knoxville and then as CEO of Challenger Corporation of Memphis before joining GHIF, has also been appointed an outside Director on the HanGenixTM Board of Directors.
HanGenixTM is a digital healthcare solutions company with a simple, effective ultrasound-based monitoring system, designed to improve hand hygiene compliance that delivers accurate, robust and insightful data through real-time feedback prior to patient contact. The company’s vision is to transform the means by which healthcare providers prevent Healthcare-Associated Infections through the use of technology in order to save lives and avoid unnecessary healthcare costs. The HanGenixTM System originated at Massachusetts General Hospital in Boston in response to their challenges with accurately measuring hand hygiene compliance. Ron Newbower, PhD, Harvard faculty member and strategic advisor, and Mike Dempsey, MIT faculty member and entrepreneur in residence with the Center for Integration of Medicine and Innovative Technology (CIMIT), developed the ultrasound-based technology after recognizing the limitations of current monitoring protocols and other technologies for hand hygiene monitoring.
This important strategic investment by GHIF demonstrates the confidence that the healthcare industry has in our technology as a critical component in helping to eradicate HAIs,” stated Jeff Kline, CEO of HanGenix™. “This infusion of capital will allow us to move beyond our successful pilots in several U.S. and international hospitals, to the commercialization and further implementation of the system in healthcare facilities globally.”
Note: GHIF engaged the services of the Acceleron Law Group of San Francisco to complete the legal and regulatory documentation related to this investment.
For More Information, Contact:
Bob Sweeney, Principal & Managing Partner
Global Health Impact Fund LLC
Jeff Kline, CEO