SRAXmd Announces Closing of Asset Purchase

Published: Aug 07, 2018

 

Carve out from parent will allow Company to focus on growth and expansion of their business

NEW YORK, Aug. 7, 2018 /PRNewswire/ -- SRAXmd, a leading healthcare focused ad-tech marketing company, announced that a controlling stake in its business has been sold to a group of institutional investors including Halyard Capital. All dedicated SRAXmd employees will remain with the business.

"We are excited to have attracted an experienced group of investors who will champion and help us navigate the tremendous growth trajectory ahead for SRAXmd," said Erin DeRuggiero, Founder, Co-President and Chief Commercial Officer of SRAXmd. Ms. DeRuggiero added, "We believe that data-driven, event triggered messaging is the next frontier for healthcare marketers. Data and platform technology like ours is being embraced by the pharmaceutical industry at an accelerated pace and we are uniquely positioned to not only respond but anticipate their needs."

Dustin Suchter, Co-President and Chief Technology Officer of SRAXmd commented, "The SRAXmd team looks forward to enhancing our market leading products that are focused on reaching the right group of healthcare decision makers. There is a tremendous opportunity to leverage our proprietary technology to continue to be a leader and innovator in our market."

Bruce Eatroff, Founding Partner of Halyard Capital, added "We are thrilled to support Erin and Dustin and the entire SRAXmd team. Halyard has made several investments in the data-driven marketing space and we believe SRAXmd is ideally positioned to capitalize on the growing demand for digitally targeted, healthcare focused marketing campaigns. We expect to provide capital, resources and expertise to help accelerate the Company's vision."

About SRAXmd
Launched in 2014, SRAXmd (www.sraxmd.com) is a healthcare focused information and ad tech company serving leading pharmaceutical brand marketers and media buying and planning agencies in the United States. The company has engineered products that deliver online banner and video messaging across web domains and apps, targeting healthcare professionals and consumers through programmatic buying. SRAXmd's MOSEE product can deploy ads to the handheld devices of healthcare professionals when they are in the vicinity of a practice or point of care location, in response to medical claims and diagnostic event feeds.

About Halyard Capital
Halyard Capital (www.halyard.com) is a New York-based private equity firm with over $600 million of capital under management, focused on leveraged buyout and growth equity investment opportunities in technology-enabled information, data analytics and business services companies that serve industry verticals with strong macroeconomic trends, such as Healthcare, Marketing Services, IT Services and Media. The firm has extensive experience and a proven track record within the performance based marketing sector, having invested in businesses that include Datamyx, Jun Group, Aberdeen, EducationDynamics and TRANZACT.

Contact: Erin DeRuggiero, erin@sraxmd.com

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SOURCE SRAXmd

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