TheraSim Secures $1.25 Million Investment From Andromeda Capital

Jan 07, 2010, 09:00 ET from TheraSim, Inc.

DURHAM, N.C., Jan. 7 /PRNewswire/ -- TheraSim, Inc., the leading simulation-training company dedicated to providing online tools and solutions to reduce performance errors in healthcare and clinical research, secured a $1.25 million round of investment from UK-based Andromeda Capital. "We are excited to have Andromeda as a partner moving forward. This investment will help to fuel the market expansion of TheraSim's clinical simulation products. Our unique approach to training and assessing the performance of clinicians and researchers is gaining traction," said TheraSim CEO, David Hadden.

TheraSim's products are already widely used for continuing medical education and in support of global health initiatives. "Our web-based systems have reach," said JoAnne Schaberick. "To date, we have conducted over 500,000 simulations for 150,000 clinicians in 200 countries." She continued, "TheraSim moves the medical education experience closer to what physicians actually do, treat patients."

Gordon Cervenka, TheraSim's CFO, commented, "This investment combined with our current revenue stream positions us for continued growth in what is an exciting and emerging market opportunity."

"With this investment, you will see a lot more of TheraSim products in medical universities, hospitals and in support of clinical trials," said Hadden. "Andromeda looks for disruptive technology that already has a firm market presence and we fit that bill." Glenn Woodcock of Andromeda will be taking a seat on TheraSim's Board of Directors.

"Andromeda is excited about TheraSim," said Woodcock. "Not only has this business shown solid performance over the last 18 months, which is no mean task, but it has an array of product and geographical opportunities that can meet a burning need for efficiency at this point in our economic cycle. We believe TheraSim's simulation technologies will form part of the standard resource set for medical practitioners, administrators and educators across the globe."

About TheraSim(© ), Inc.

TheraSim, Inc. is the leading simulation-training company dedicated to providing online tools and solutions to reduce performance errors in healthcare and clinical research. TheraSim both predicts and prevents errors in the application of medical treatment and enables healthcare professionals to more rapidly assimilate new information to make more effective clinical decisions.

About Andromeda Capital

Andromeda Capital is a UK-based venture capital fund that invests in established software technology companies with defined expansion opportunities, especially where those companies offer products that bring improved efficiency or quality of service for their customers.

Forward-Looking Statements

This press release may include "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those contained in the forward-looking statements in this press release. TheraSim, Inc., undertakes no obligation and does not intend to update forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

SOURCE TheraSim, Inc.