SOURCE: Spring Medical Systems, Inc.

October 17, 2007 08:00 ET

Spring Medical Systems Selects Growthink to Raise $5 Million in Series A Funding

HOUSTON, TX--(Marketwire - October 17, 2007) - Spring Medical Systems, a leading provider of software solutions for small- and medium-sized medical practices, announced today that Growthink, the leading Investment Banking and Business Development Services Firm to Emerging and Middle Market Enterprises, has been retained to raise $5 million in Series A Capital.

"Spring Medical is expanding during an exceptional period of opportunity within its target markets," said Emily Burg, Growthink's director of strategy. "In 2006, Spring Medical experienced a 91 percent increase in top line growth. With the migration of health records from paper-based systems to electronic databases, robust levels of growth will prove to be the rule rather than the exception."

More than just a charting program, SpringCharts is built to work the way a practice works, simplifying typical office tasks while increasing efficiency so that doctors may focus on what they do best -- providing quality patient care. SpringCharts emphasizes functionality and intuitive ease-of-use while also providing an affordable EHR software solution for small-to-medium sized doctors' offices.

"A big part of Spring Medical Systems' success is its loyal following amongst physicians at small-to-medium sized practices," said Spring Medical Systems CEO Jack Smyth. "In fact, many of these physician customers have become angel investors in our company -- helping to contribute to the strong growth and market demand for our EHR solution. In order not to be outpaced by our success, we have turned to Growthink to raise additional capital. With their trusted expertise and extensive network of investors, we are confident that we will attract the support needed to continue delivering easy-to-use software solutions that empower physicians to increase efficiency, reduce costs, and provide better patient care."

"Spring Medical is the latest example of a robust, innovative company choosing Growthink as the Firm best-suited to secure the capital critical to its continued success," said Jay Turo, CEO of Growthink. "We look forward to a long and productive partnership."

About Growthink:

Growthink is the leading Strategic Advisory and Investment Banking Services Firm to Emerging and Middle Market Enterprises. Growthink provides Research, Strategic, Transactional and Investment Capital Services to its clients, enabling companies to identify and leverage opportunities for growth and market leadership.

Since 1999, Growthink has completed over 1000 strategic engagements for a diverse and dynamic client portfolio encompassing Emerging, Established and Fortune 2000 Companies, Venture Capital and Private Equity Funds. Learn more about Growthink's expertise at www.growthink.com

About Spring Medical Systems

Spring Medical Systems, Inc. was founded by a team of physicians and technology professionals with the primary goal of developing easy-to-use software solutions that empower physicians to increase efficiency, reduce costs, and provide better patient care. The Company's flagship offering is the SpringCharts® family of products -- SpringCharts EHR and SpringCharts Essentials. These innovative electronic health records solutions combine the right mix of rich functionality, intuitive ease-of-use, and affordability needed to enable rapid and complete documentation with a minimum of cost and disruption. Now in its ninth year of development and in use by physicians in a variety of medical specialties, Spring Medical products provide complete EHR solutions for independent medical offices.