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Silas Deane
Logic Media Group
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Silas@logicmediagroup.com                  

Medical Information Provider, Faxwatch, Changes Name to VerusMed

Company Also Announces New Investors and Leadership

(Scottsdale, Ariz., April 3, 2006) – Faxwatch, a leader in providing medical information to physicians and other healthcare professionals, announced today that they have changed the name of the company to VerusMed. Company executives decided it was time to evolve the Faxwatch name to VerusMed, a name that better reflects its market connectivity and commitment to being a trusted source for medical news and information.

VerusMed stands for “Truth in Medicine” and further emphasizes the company’s core values of providing objective and relevant medical news and information. With plans in place to expand the company’s service lines over the next year, leaders of the company felt they needed a name that demonstrates the company’s growing information delivery capabilities and will serve as a platform for future product offerings.

The company also announced that it has received a majority investment from two different investment groups. Petra Capital Partners of Nashville, Tenn., and Chrysalis Ventures of Louisville, Ky., joined the company’s founder, John Marchica, as investors. Terms of the investments have not been disclosed. However, the two investment firms have identified it as significant and plan to continue to invest in the company’s growth and expand the company’s product offerings. The investors have named healthcare information industry veteran Scott McQuigg as the company’s President and CEO, replacing Marchica, who is pursuing a Ph.D. in clinical epidemiology at Dartmouth Medical School and who remains a member of the company’s Board of Directors.
McQuigg was most recently the founder and former CEO of HealthLeaders.

“VerusMed has a proven history of helping time-starved physicians and healthcare professionals cut through the clutter, getting to the essence of medical news and information so they can focus on patient care. As we grow our information service offerings, VerusMed will continue its work in helping companies in the pharmaceutical, biotechnology and managed care industries build rapport with our audience of healthcare professionals,” said McQuigg.

“Our mission has not changed and we will continue providing relevant, concise and objective medical information,” said June Manning, VerusMed Editor-in-Chief. “Our goal is to help healthcare professionals focus their medical reading and education, and doing so in a format that saves them time and improves patient care.”

VerusMed, founded in 1994, helps physicians and healthcare professionals stay abreast of the latest medical advancements across key therapeutic areas and industry segments. Ranging from Neuroscience to Men’s Health to Oncology and more than 40 other specialty service areas, VerusMed’s publications are all produced by the company’s staff of highly experienced medical writers and editors on a daily basis. Each publication is designed to provide insight about the latest trends, clinical trial results and other need-to-know health updates in an objective format for the audiences they serve.

About VerusMed
VerusMed, An Evolution of Faxwatch, provides timely, unbiased medical information to physicians, healthcare professionals, industry executives and patients. With its concise and objective editorial approach, VerusMed ensures that physicians and healthcare professionals receive the most relevant therapeutic updates. With more than 150,000 readers across several dozen therapeutic- and industry segment-specific publications, VerusMed is able to leverage its market connectivity to help companies in the pharmaceutical, biotechnology, hospital and managed care industries to establish brands and build rapport with key audiences. The company has twice been named to the Inc. 500 list of America’s fastest growing companies. To learn more, visit www.VerusMed.com or call 800-763-3329.

About Petra Capital Partners
Petra Capital Partners provides growth capital to business, information, and healthcare services companies throughout the United States. Petra specializes in helping proven entrepreneurs build sustainable growth companies by serving as a trusted advisor and a reliable source of capital. Petra targets transaction sizes under $10 million in the form of equity or subordinated debt with warrants in high growth companies to fund organic growth, acquisitions, or in certain cases, owner recapitalizations. The partners at Petra have a proven track record of success spanning a 20 year period of time and covering 66 companies and $230 million of invested capital. Based in Nashville, Tenn., Petra seeks to invest in companies with the following financial characteristics: annual revenue in excess of $5 million, positive EBITDA, and growth in excess of 25% per annum. For more information, please visit www.petracapital.com.

About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures is a leading source of equity capital for young growth companies in the Southeast and Midwest. Chrysalis invests primarily in early-stage and expansion-stage companies in healthcare services and technology, media and communications, and business services. Based in Louisville, Ky. Chrysalis has more than $200 million under management and has made investments in over 50 companies. For more information, please visit www.chrysalisventures.com.

 

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