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Exostar Receives Additional $10 Million Investment from Merck Global Health Innovation Fund

Commitment Reflects Impact of Exostar’s Mission, Vision, and Solutions on Life Science and Healthcare Industries

HERNDON, VA, October 27, 2015Exostar, whose cloud-based solutions help companies in aerospace and defense, life sciences, and healthcare mitigate risk and solve their identity and access challenges, today announced an additional $10 million investment in its life science and healthcare business from the Merck Global Health Innovation Fund (Merck GHI).  Merck GHI has $500 million under management and provides growth capital to emerging healthcare technology companies worldwide.

Merck GHI’s investment will allow Exostar to enhance and expand its HIPAA-compliant solutions that help pharmaceutical companies, healthcare providers, and others in the industry securely, productively, and compliantly collaborate with one another to develop new drugs and therapies and deliver the best possible patient care.  Exostar’s innovative information security solutions – such as the cloud-based Secure Access Manager (SAM) for federated identity and access management with web-based single sign-on – protect sensitive data and intellectual property while promoting the ongoing migration to partner-centric research and development and digital health.

The latest round of funding follows a $5 million investment by Merck GHI in October 2014.  Over the past year, Exostar’s life science and healthcare community has grown to over 1000 global organizations who rely on SAM to securely access applications, exchange information, and conduct business.  The company also launched its ProviderPass solution that supports leading health IT vendors and healthcare providers with compliant electronic prescribing of controlled substances.

“We believe that data will be the currency in healthcare and serves as the foundation for innovation,” said Richard Addi, Exostar’s President and CEO.  “We also understand that data compromise can render that currency worthless, or worse.  Life science and healthcare companies need a partner whose information security innovations and solutions not only protect scientific advances and patient information, but also enable organizations to accelerate how they do business.  Exostar is that partner, and we are pleased Merck GHI has chosen once again to support us.”

About Exostar

Exostar’s cloud-based solutions help companies in highly-regulated industries mitigate risk and solve identity and access challenges.  Nearly 125,000 organizations leverage Exostar to help them collaborate securely, efficiently, and compliantly with their partners and suppliers.  By offering connect-once, single sign-on access, Exostar strengthens security, reduces expenditures, and raises productivity so customers can better meet contractual, regulatory, and time-to-market objectives.  www.exostar.com.

October 27, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Zoeticx Leverages Crowd Funding to Introduce TruRecord, Medical Prescribing Software That Will Address 2.2 Million Adverse Drug Reactions in U.S.

First EHR-integrated, Precise and Personalized, Mobile Platform to Leverage Advances in DNA Testing for Better Patient Outcomes and Lower Malpractice Payouts

June 29, 2015; San Jose, Calif — Zoeticx, Inc., the developer of medical software that bridges the gap between medical data and quality patient care, today announced a crowd funding campaign for TruRecord, the first subscriber-based, medical prescribing software to leverage advanced DNA testing technology for optimal drug analysis and prevention of adverse drug reactions.

The company is raising funds for a fall launch of TruRecord on medical crowd funding site Medstartr http://www.medstartr.com/projects/662-trurecord

TruRecord improves patient outcomes by reducing the 80,000 annual deaths due to drug adverse reactions, resulting in 289 billion spent annually on malpractice payouts. CDC ranks this as the fourth highest cause of deaths in US. With 30 new medications introduced yearly and 25 percent of patients on multiple medications, the need is growing.  The CDC also ranks this as the fourth highest cause of death in the U.S. after heart disease, cancer and strokes.

TruRecord is designed to foster better patient outcomes by helping to prevent the 100,000 deaths yearly from drugs that are prescribed properly and 80,000 deaths from those which are not, resulting in 289 billion spent annually on malpractice payouts.

Breaking Through Drug Analysis Limitations

Through an intuitive visualization of drug-to-drug interactions, drug-to-allergy interactions, and drug to DNA metabolization, medical professionals can now create what-if scenarios for drug issues, enabling providers to personalize prescriptions. This capability breaks through providers’ drug analysis limitations and the burdensome task of scanning and searching text and tables to identify adverse reaction data which is often complex.

These scenarios can now also be more complete with accurate patient medical information from any facility, including integration from existing hospital EHR’s through Zoeticx’s Patient-Clarity Platform which connects disparate EHR records and enables medical system interoperability.

Mobile Devices, HIPAA Compliance

TruRecord client interfaces are supported on mobile and web interfaces, providing precise, personalized medication prescriptions. TruRecord accesses patient medical records via an on-demand, real time access from EHR / EMR systems. Without data duplication, TruRecord complies with all required secure patient privacy protection outlined by HIPAA.

“We built Zoeticx to help medical systems address interoperability, lower accidental deaths and bridge the gap between medical data and better patient outcomes,” said Thanh Tran, CEO, Zoeticx. “Today our goal is the same, but a shift toward an additional focus—adverse drug reactions. We are ushering in an era where we can leverage the fruits of DNA research to bring more precise and accurate prescriptions to those who rely on them. TruRecord takes the guess work out of drug interactions and patients by delivering security, peace of mind and accuracy.”

About Zoeticx

Zoeticx offers software solutions for the healthcare industry which are dedicated to improving patient outcomes, enhancing the quality of care, containing costs, and simplifying administration. These solutions offer an immediate increase in the quality of care by delivering the right information to the right caregiver at the right time, in a manner that can be easily understood.  Additionally, as the Affordable Care Act continues to roll out, healthcare providers will face new challenges which arise whenever there is a transition from an old system of doing business to a new one. Zoeticx helps solve those challenges, allowing care providers to focus on what is most important, the patient. www.Zoeticx.com For additional information contact Glass Lantern PR at @glasslanternpr.com.

June 25, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Exostar Reaches New Milestones with Life Sciences Identity Hub

Community Expands into Healthcare, Medical Device Markets; Company Formally Launches Partner Program

HERNDON, VA, February 4, 2015Exostar, an innovative information technology company offering cloud-based solutions that enable secure, cost-effective business-to-business collaboration, today announced its Life Sciences Identity Hub attained key milestones over the second half of 2014, including the following:

  • 40% Increase in Connected Organizations – Nearly 700 companies, such as manufacturers, contract research organizations, and laboratories, are active participants in Exostar’s hybrid cloud community.
  • 50% Increase in Academic Institutions – Over 60 universities are collaborating with life sciences organizations to speed the drug research and development process.
  • 50% Increase in Engaged Users – Almost 15,000 individuals are executing business-critical efforts through the Life Sciences Identity Hub.
  • Expansion into New Markets – The Exostar community now encompasses health IT vendors, healthcare providers, and medical device manufacturers who are helping bring life-altering and life-saving therapies to patients through solutions like electronically prescribed controlled substances.

Exostar’s Life Sciences Identity Hub is a cloud-based, connect-once solution delivered as-a-Service.  As a result, Exostar handles all organization and individual on-boarding, user authentication, and application connection and access enforcement requirements.  Organizations can mitigate risk and minimize the burden on their IT resources to establish the collaborative operating environments they desire.  Individuals benefit from a single sign-on user experience and secure access to the applications and information they need to conduct business with colleagues inside and outside of the enterprise.

“Organizations in life sciences and healthcare are adopting an external partner business model to reduce cost, ensure compliance, and get new drugs to market as quickly as possible,” said Daniel Pfeifle, Exostar’s Vice President of Sales and Marketing.  “These companies are embracing our proven, scalable Life Sciences Identity Hub because it allows them to engage and productively collaborate beyond enterprise boundaries faster and more securely than virtually any other alternative.”

In response to demand for improved cloud access in the Life Sciences and Aerospace and Defense industries, Exostar has launched a new partner program to extend the company’s reach and the value of participating in the community.  The partner program formalizes the relationships with current partners and lays the foundation for the immediate addition of application partners, reseller partners, technology suite partners, and strategic alliance partners.

To oversee the growth of this strategic initiative, Exostar has hired a new Director of Global Partnerships and Alliances, Kevin O’Brien.  O’Brien brings over 25 years of business development and technology experience to his position, where he will be responsible for the planning and execution of the Exostar partner program.  He comes to Exostar from Sprint Nextel, where he spent nine years crafting multi-million dollar relationships with Microsoft, Cisco, IBM, Alcatel-Lucent, and other global market leaders.

About Exostar

Exostar powers secure business-to-business information sharing, collaboration and business process integration throughout the value chain.  Exostar supports the complex trading needs of many of the world’s largest companies in aerospace and defense, life sciences, and other industries.  Exostar’s cloud-based identity assurance products and business applications reduce risk, improve agility and strengthen trading partner relationships and profitability for over 100,000 companies in 150 countries worldwide.  The Exostar community includes market leaders such as AstraZeneca, BAE Systems, Bell Helicopter, The Boeing Company, Computer Sciences Corporation, Lockheed Martin Corp., Merck, Newport News Shipbuilding, Northrop Grumman, Raytheon Co. and Rolls-Royce.  For more information, please visit www.exostar.com.

February 4, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.