VCPro Database 2023 26th Edition — a downloadable and searchable venture capital database with 6,900+ venture capital and private equity firms worldwide. The most reliable, up-to-date and affordable venture capital directory of its kind. VCPro Database is available in both Windows and macOS versions. It has been published since 1998. Hemab Therapeutics Announces $135M Series B Financing to Advance First Prophylactic Treatments for Underserved Bleeding and Thrombotic Disorders
Funding enables completion of ongoing Phase 1/2 study of bispecific antibody HMB-001 in Glanzmann Thrombasthenia, initiation of pivotal studies, start and conclusion of Phase 1/2 study of HMB-VWF in von Willebrand Disease, as well as future pipeline evolution. COPENHAGEN, Denmark and BOSTON, February 21, 2023-- Hemab Therapeutics, a clinical-stage biotechnology company developing the first prophylactic therapeutics for serious, underserved bleeding and thrombotic disorders, today announced the closing of an oversubscribed $135 million Series B financing. Access Biotechnology led the round, with participation from new investors Deep Track Capital, Avoro Ventures, Invus, Rock Springs Capital, and Maj Invest Equity, as well as all current investors Novo Holdings, RA Capital Management, and HealthCap. "Hemab is fundamentally reimagining the treatment paradigm for underserved bleeding and thrombotic disorders. This financing will allow us to progress our clinical programs for the first prophylactic treatments for Glanzmann Thrombasthenia and von Willebrand Disease, delivering functional cures for patients in need," said Benny Sorensen, MD, PhD, CEO & President of Hemab. "We're grateful for this robust syndicate of investors who support our approach of leveraging validated advanced technologies and deep insights into the biology of clotting to overcome decades of scientific stagnation." The financing will support Hemab's scientific and corporate growth plans through 2025, including completion of an ongoing Phase 1/2 clinical study of lead candidate HMB-001 in Glanzmann Thrombasthenia, initiation of pivotal studies, start and completion of Phase 1/2 clinical evaluation for HMB-VWF in von Willebrand disease, and future pipeline evolution in accordance with the company's Hemab 1-2-5™ strategic guidance—targeting development of 5 clinical assets by 2025. "Strong investor confidence—in this case, an upsized round and more than $200 million in demand—is a testament to the expertise of the Hemab team, their validated scientific approach, and the opportunity to bring long-overdue innovation to patients living with severe bleeding and thrombotic diseases," said John Maraganore, PhD, Chair of Hemab's Board of Directors. "As founding investor and the company's largest shareholder, we are excited to support Hemab in the next phase of its plan to build the ultimate clotting company, with a Nordic foundation and global footprint," said Jørgen Søberg Petersen, MD, PhD, MBA, Partner at Novo Holdings. Hemab also announced Dan Becker, MD, PhD, Managing Director at Access, and Uya Chuluunbaatar, PhD, Partner at Avoro Ventures, will also join as Directors. Christine Borowski, PhD, Vice President at Access, will join as a Board Observer. "We are thrilled to partner with Hemab's exceptional leadership to advance a pipeline of transformative new medicines for areas of high unmet need in hemostatic disorders," said Dr. Becker. About Hemab Therapeutics
Hemab is a clinical-stage biotech company developing the first prophylactic therapeutics for serious, underserved bleeding and thrombotic disorders. Based in the US and Denmark, Hemab is progressing a pipeline of monoclonal and bispecific antibody-based therapeutics to transform the treatment paradigm for patients with high unmet need. The company's strategic guidance, Hemab 1-2-5TM, targets the development of 5 clinical assets by 2025 to deliver long-awaited innovation for patients with Factor VII Deficiency, Bernard Soulier Syndrome, Von Willebrand Disease, Hereditary Hemorrhagic Telangiectasia (or Osler-Weber-Rendu disease), Congenital Antithrombin III Deficiency, and other serious disorders. Learn more at hemab.com. About HMB-001
HMB-001 is bispecific antibody that binds and stabilizes endogenous factor VIIa (FVIIa) with one antibody arm and TLT-1 on activated platelets with the other arm. This allows for accumulation of FVIIa in the body, recruitment of FVIIa directly to the surface of the activated platelets where it is known to facilitate clotting, and avoidance of clotting activity in the absence of tissue damage. HMB-001 was designed to be a first-in-class prophylactic treatment for Glanzmann Thrombasthenia with potential for other debilitating rare bleeding disorders. It entered Phase 1/2 clinical evaluation in late 2022, with initial data expected 2H 2023.

Hemab Therapeutics Announces $135M Series B Financing to Advance First Prophylactic Treatments for Underserved Bleeding and Thro...

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February 8, 2023 – Nielsen & Bainbridge, LLC and 13 affiliated debtors (dba NBG Home* , “NBG” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead case No. 23-90071 (Judge TBD). The Austin, Texas-based Debtors, "a leading global designer, manufacturer and marketer of affordable home décor products," are represented by Matthew D. Cavenaugh of Jackson Walker LLP. Further Board authorized appointments include: (i) Kirkland & Ellis LLP as general bankruptcy counsel, (ii) Alvarez & Marsal North America, LLC as financial advisors, (iii) Guggenheim Securities, LLC as investment bankers (iv) Hilco Real Estate, LLC, as exclusive agent with respect to the sale of certain properties and (v) Omni Agent Solutions as claims agent. in April of 2017. The Debtors’ lead petition notes between 5,000 and 10,000 creditors; estimated assets between $100.0mn and $500.0mn; and estimated liabilities between $500.0mn and $1.0bn ($413.0mn of funded debt). Documents filed with the Court list the Debtors’ three largest unsecured creditors as (i) Wangbin Decorative Material Co. ($5.6mn trade claim), (ii) Lamplux Co. Ltd ($3.9mn trade claim) and (iii) Litesun Lighting Co. ($3.2mn trade claim). 29 of the top 30 unsecured claims are for trade payables (@20 Chinese counterparties) and all are in excess of $750k. UPDATE: On February 10th, the Debtors filed a motion seeking approval of: (i) their Disclosure Statement (conditionally), (ii) proposed Plan solicitation and voting procedures and (iii) a proposed (accelerated) timetable culminating in a Plan confirmation hearing on March 24, 2023 [Docket No. 70]. Petition Date Highlights
Sycamore Partners-Controlled Home Décor Leader Files for Bankruptcy with $413.0mn of Funded Debt and $82.0mn of Trade Payables
Highly Reliant on Chinese Goods (95%), Debtors Cite China Trade War and 400% Increase in Shipping Costs
Restructuring Support Agreement Executed Amongst Sycamore Partners, First Lien Debt Holders (@52% support of $282.0mn outstanding) and Second Lien Debt Holders (100%)
Silver Point and KKR to Serve as Initial Plan Sponsors and Stalking Horse (Bid to Cover "At Least" Outstandings Under $60.0mn DIP and $58.2mn Owed Under Prepetition ABL Facility)
Debtors, Down to Last $2.0mn of Liquidity, Line Up $60.0mn DIP Facility ($30.0mn New Money) from First Lien Lenders
Debtors File Plan and Disclosure Statement, with Just 52% of First Lien Support Shy Away from "Pre-Arranged" Characterization
Goals of the Chapter 11 Filing
"The Restructuring Transactions embodied in the Restructuring Support Agreement and the Plan will enable the Debtors to substantially reduce their funded-debt obligations and to emerge from the Chapter 11 Cases on an expedited basis with a right-sized balance sheet and a streamlined business model poised for success
in a dynamic retail environment." Plan and RSA Overview
The Disclosure Statement provides: "In order to capitalize on the Debtors’ prepetition marketing efforts, the Plan contemplates a sale of 100% of the New Common Stock to either (a) certain funds affiliated with Silver Point Capital, L.P. ('Silver Point') and KKR Credit Advisors (US) LLC ('KKR'), which have agreed to serve as initial plan sponsors (the 'Initial Plan Sponsors'), or (b) a prospective third-party purchaser that submits a bid pursuant to the Bidding Procedures that the Debtors determine, in their reasonable business judgment, to be higher or otherwise better. To establish a minimum bid and facilitate the Marketing Process on a postpetition basis, the Initial Plan Sponsors have committed to purchase 100% of the equity in Reorganized NBG (the 'New Common Stock') for an amount in cash at least equal to the total amount of Allowed DIP Roll-Up Claims attributable to the initial principal amount of DIP Roll-up Loans, plus any Additional Cash Amount (the 'Stalking Horse Bid'). Consideration for the Stalking Horse Bid shall equal the total amount of Allowed DIP Claims as of the Effective Date, plus the total amount outstanding under the ABL Facility as of the Plan Effective Date. (such consideration, collectively, the “Stalking Horse Bid Consideration”). Should the Debtors receive a higher or otherwise better bid, any value above the Stalking Horse Bid Consideration ('Additional Value') will be distributed as set forth in the Plan; in the event that such a bid does not materialize, the Debtors will consummate a sale transaction with the Initial Plan Sponsors." Restructuring Support Agreement
The Disclosure Statement provides: "The restructuring support agreement [attached at Exhibit C, the "RSA"]… enjoys the support of (a) the Debtors’ current equity holder, Sycamore Partners Management, L.P. collectively with its affiliated investment funds and affiliates and portfolio companies of the foregoing (collectively, 'Sycamore,' or the 'Sponsor'), (b) certain holders representing over 52% of the aggregate principal amount outstanding under the Debtors’ first lien term loan facility…(the 'First Lien Term Loan,' and such holders, the 'Consenting First Lien Term Loan Lenders'), (c) certain holders representing 100% of the aggregate principal amount outstanding under the Debtors’ second lien term loan facility…(the 'Second Lien Term Loan,' and such holders, the 'Consenting Second Lien Term Loan Lenders'); and (d) certain holders representing 100% of the aggregate principal amount outstanding under the ABL credit facility …(the 'ABL Facility,' and such holders, the 'Consenting ABL Lenders')." The following is a summary of classes, claims, voting rights and expected recoveries (defined terms are as defined in the Plan and/or Disclosure Statement):
Class 1 (“Other Secured Claims”) is unimpaired, deemed to accept and not entitled to vote on the Plan. Class 2 (“Other Priority Claims”) is unimpaired, deemed to accept and not entitled to vote on the Plan. Class 3 (“ABL Claims”) is impaired and entitled to vote on the Plan. The estimated amount of claims is $57.7mn and expected recovery is 100%. each holder shall receive: (i) where the Initial Plan Sponsors are the Plan Sponsor, (a) its Pro Rata share of the New ABL Credit Facility, on such terms as agreed among the Debtors, the ABL Lenders, and the Plan Sponsor, or (b) with the consent of the Debtors and the Plan Sponsor, payment in full, in Cash, on the Effective Date; or (ii) where any other party is the Plan Sponsor, payment in full in Cash on the Effective Date. Class 4 (“First Lien Term Loan Claims”) is impaired and entitled to vote on the Plan. The estimated amount of claims is $282mn. each holder shall receive its Pro Rata share of Additional Value, if any, after all Allowed Claims in Class 3 have been satisfied in full; provided, however, that in no event shall any Holder of a First Lien Term Loan Claim receive, on account of such Claim, a recovery greater than 100% of the Allowed amount of such Claim. Class 5 (“Second Lien Term Loan Claims”) is impaired and entitled to vote on the Plan. The estimated amount of claims is $73mn. each holder shall receive its Pro Rata share of Additional Value, if any, after all Allowed Claims in Class 4 have been paid in full; provided, however, that in no event shall any Holder of a Second Lien Term Loan Claim receive, on account of such Claim, a recovery greater than 100% of the Allowed amount of such Claim. Class 6 (“General Unsecured Claims”) is impaired, deemed to reject and not entitled to vote on the Plan. Class 7 (“Intercompany Claims”) is unimpaired/ impaired, deemed to accept/reject and not entitled to vote on the Plan. Class 8 (“Intercompany Interests”) is unimpaired/ impaired, deemed to accept/reject and not entitled to vote on the Plan. Class 9 (“Section 510(b) Claims”) is impaired, deemed to reject and not entitled to vote on the Plan. Class 10 (“Interests in NBG”) is impaired, deemed to reject and not entitled to vote on the Plan. Key Documents
Exhibit A: Plan of Reorganization
Exhibit C: Restructuring Support Agreement
Exhibit D: Valuation Analysis (to be filed)
Exhibit E: Liquidation Analysis (to be filed)
Proposed Key Dates
Plan Supplement Deadline: March 10, 2023
Voting Deadline: March 17, 2023
Plan and Disclosure Statement Objection Deadline: March 17, 2023
Combined Hearing Date: March 24, 2023
Events Leading to the Chapter 11 Filing
The Disclosure Statement provides: "The onset of the COVID-19 pandemic and its aftermath—including a challenging market environment, supply chain disruption, and increasing freight costs—created a difficult operating environment for the Debtors over the past two years. Freight costs, at their peak, soared nearly 400% at their peak from a pre-COVID average of $5,000 to over $19,500 per shipping container. Delays brought about by supply chain disruption caused a seasonal misalignment as many products arrived too late for the intended season. In addition, the U.S.-China trade war has amplified these challenges by indirectly passing tariff costs on to the Debtors and further raising the fixed costs of importing internationally sourced materials and products. Finally, the Debtors have experienced the 'second wave' effect of COVID-19 as consumer demand has declined in the face of inflationary pressure. The cumulative effect of these events has been to depress revenues as costs increased, severely undercutting profitability. Faced with these challenges, the Debtors and their advisors have spent the past half year analyzing options for addressing long-term maturities on their funded-debt facilities while continuing to fulfill short-term obligations to vendors, customers, and other business partners. In addition to taking other practical steps, the Debtors made significant progress toward stabilizing operations by performing extensive, data-driven analyses to right-size their product catalogue, overhead, and profitability. Short-term cash flows declined unexpectedly in mid-January 2023, however, when Wells Fargo Bank, N.A. ('Wells Fargo') notified the Debtors that it would no longer be purchasing accounts receivables pursuant to the account purchase agreement between the parties. With the need for cash growing more pressing by the day, the Debtors began proactively engaging with their key stakeholders to discuss the terms of a comprehensive restructuring transaction." Drilling down on the "trade war," the Debtors provide: "NBG Home, with approximately 95% of purchase orders coming from China, could not escape the economic impact of the trade war. The tariffs incurred by the shipping vendors were passed on to NBG Home as a function of the shipping agreements. The trade war directly affected Company revenues from 2018 to 2019. During that time period, EBITDA decreased from $69 million in 2018 to $25 million in 2019. The impact of the trade war continues to create increased costs for the company today." On COVID and shipping costs, the Debtors continue: "The Debtors experienced three long-lasting side effects as a result of COVID-19. First, region-wide quarantines, the shuttering of physical stores, and the general closure of public spaces slowed the demand for the Debtors’ goods from select retail partners in the home goods space. These business lines were slow to recover—in general, online spending simply did not compensate for onsite spending for these retail stores as end consumers sought goods from specialized online sellers. For brick-and-mortars retailers already navigating formidable obstacles in the digital age, the transition to a predominantly work-from-home environment exacerbated these issues. The Debtors experienced the “second wave” resulting from the reduced consumer demand due to inflationary pressure. As the Debtors’ retail partners saw demand fall, they did not meet their expected sell-through of NBG Home product, resulting in excess inventory on their shelves. In turn, many customers, such as TJX and At Home, significantly reduced orders from the Company in order to sell through the excess inventory. Second, a few months into the pandemic, the company saw fixed costs rise in dramatic fashion. NBG Home sources most goods internationally and ships them to the United States. The COVID-19 pandemic created unusually heightened freight costs in 2020 and 2021. During this time, the average container price across all ports of entry increased nearly fourfold from approximately $5,000 per shipping container in January 2021 to a peak of approximately $19,500 in October 2021. Third, not only the did the price of shipping go up, but so did the arrival time of products. The pandemic caused additional labor shortages and impacted nearly every component of Debtors’ supply chain. The delay led to a backlog of shipments later on when satisfying the pent-up demand. The backlog meant the Debtors were not able to satisfy seasonal demand on time which severely affected sales." The Debtors' declaration in support of first day motions adds: "In response to these challenges, the Company took a proactive data-driven approach to right-size their product assortment and overhead and restore profitability. While the Debtors’ management believes in this turnaround plan and it forms the basis of the go-forward business, the Company ultimately did not have the liquidity to fully implement and execute on its plan. As of the Petition Date, the Debtors have over $413 million in funded indebtedness and approximately $82 million in outstanding trade payables, but only approximately $2 million in available liquidity." A timeline setting forth the Debtors’ numerous prepetition efforts to deleverage their balance sheet and offset increasing operating and financial pressures, as described above and in greater detail herein, is as follows:
DIP Financing
The Debtors have commitments for a $60.0mn debtor-in-possession ("DIP") financing facility to support working-capital needs during the Chapter 11 cases. The DIP facility is comprised of $30.0mn of new money and a $30.0mn roll-up of the Debtors' First Lien Term Loan. Prepetition Indebtedness
As of the Petition date, the Debtors have approximately $413.0mn in total funded debt, consisting of the following:
ABL Credit Agreement. The Debtors are party to an April 2017 ABL Credit Agreement further to which they were provided with an asset-based revolving credit facility in an aggregate principal amount of $75.0mn, with Wells Fargo serving as administrative agent and collateral agent for the ABL Lenders. The ABL Credit Facility matures on July 9, 2026, and as of the Petition Date approximately $58.2mn is outstanding under the facilty
First Lien Initial Term Loan. The Debtors are party to an April 2017 First Lien Credit Agreement, with Deutsche Bank AG New York Branch as administrative and collateral agent for the First Lien Term Loan Lenders. The “First Lien Term Loans” mature on April 26, 2024 and as of the Petition date, $282.0mn is outstanding on the loans. Second Lien Term Loan. The Debtors are party to an April 2017 Second Lien Credit Agreement, with Cortland Capital Market Services LLC as administrative and collateral agent for the Second Lien Term Loan Lenders. The “Second Lien Term Loans” mature on October 26, 2024 and as of the Petition date, $73.0mn is outstanding on the loans. About the Debtors
According to the Debtors : “Headquartered in Austin, Texas, NBG Home is the largest provider of affordable home décor products, including lighting, accent furniture, soft goods, wall décor, frames and other categories marketed under brands such as Pinnacle, Jimco, Patton, Plantation Patterns, THRO and its most recent acquisition Quoizel. Through its leading research, innovation and product development capabilities, NBG Home offers trend-right products at affordable price points, and serves a wide variety of retail partners, including mass merchants, specialty stores, discount stores, home centers, warehouse clubs, and internet retailers." The Disclosure Statement adds: "The Debtors are…a key supplier of affordable home décor in the United States across a portfolio of product categories, including, among others, lighting, accent furniture, soft goods, wall décor, and frames marketed under brands such as Pinnacle Frame & Accents, Jimco Lamps & Home Decor, Patton Wall Decor, Plantation Patterns, and Quoizel Lighting. A true end-to-end service provider, the Debtors’ omni-channel business model facilitates partnerships with brick-and-mortar and eCommerce retailers from design and development to logistics and fulfillment. Today, the Debtors are the only business in the affordable home décor industry that offers domestic, direct import, port of entry, and drop-ship delivery logistic solutions, positioning the Company as a one-stop solution for its retail customers. The Debtors own certain manufacturing centers in Alabama, and otherwise lease offices, distribution centers, and manufacturing centers in Alabama, Arkansas, California, Illinois, Mississippi, North Carolina, New York, South Carolina, and Texas. The Debtors primarily provide shipping and logistics services by connecting principally internationally sourced goods with mass, wholesale, and online retailers. The Debtors are headquartered in Austin, Texas, and employ approximately 730 individuals." Corporate History
NBG Home’s namesake—Charles Bainbridge—founded the company in 1867 in Brooklyn, New York when Charles Bainbridge patented the very first decorative matboard. In so doing, he created the framing industry as we understand it today. The company Nielsen, founded in 1971, was known for its work in unique aluminum moulding for picture frames. The two companies merged in 1984, forming Nielsen Bainbridge, which later rebranded as Nielsen Bainbridge Group and focused on a wider array of home goods offerings in the portable lighting, hardwire lighting, outdoor décor, soft home (i.e., clothing and bedding), and wall art business categories. In the last fifteen years, the Company has quickly added to its portfolio of brands, broadening its high-quality range of product offerings and expanding its footprint in the home décor space, which now includes eight businesses operating independently under the NBG Home name. A timeline of the acquisitions is shown below:
Nielsen Bainbridge Group expanded rapidly: the Company acquired Pinnacle Frames & Accents in 2011 and Burnes of Boston in 2012 to grow its presence in framing products. In 2014, Nielsen Bainbridge Group grew into textiles, wall décor, and furniture when it acquired The Home Décor Companies, a leading provider of home décor products to mass, home improvement, discount, and specialty retailers. The brands under The Home Décor Companies included Patton Wall Decor, Jimco Lamps & Home Decor, and THRO. Combined, Nielsen Bainbridge with The Home Décor Companies became known, and still is known today, as “NBG Home.” The Company next expanded into outdoor goods through the acquisition of Dwell & Decor Outdoor (also known as Plantation Patterns). In 2017, Sycamore—a private equity firm based in New York specializing in retail and consumer investments— acquired NBG Home. The Company then purchased Cheyenne Products to further develop its portable lighting and furniture footprint with Walmart. In 2018, the Company entered the hardwire lighting category with the acquisition of Quoizel Lighting, which further built out NBG Home’s differentiated market presence. Corporate Structure Chart

Nielsen & Bainbridge, LLC – Home Décor Leader (and Sycamore Partners Portfolio Company) NBG Home Files for Bankruptcy with $413mn of Funded Debt; Silver Point Capital and KKR to Serve as Stalking Horse; Aim for March 23rd Plan Confirmation

New edition identifies patterns that fuel the success of thriving senior marketers
BETHESDA, Md., Nov. 9, 2022 /PRNewswire/ -- Nancie McDonnell Ruder, founder and CEO of Noetic Consultants, today announced the launch of How Senior Marketers Scale the Heights: What is Still True, More True & Newly True. In its initial publication, McDonnell Ruder conducted more than 50 in-depth interviews with some of the world's best marketers to study how they reached the pinnacle of their careers. Their wisdom is featured prominently and is backed by the author's insight from decades of her own experience. McDonnell Ruder introduces you to Jack and Jill, who represent quintessential senior marketers thriving in today's complicated landscape and identifies the patterns that fuel their success. AD
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Given the recent extraordinary times, McDonnell Ruder revisited the efforts of the marketing leaders she interviewed, plus new experts she met during the last few years, to understand what was still true, more true and newly true.

Leadership Expert Nancie McDonnell Ruder Launches Marketing Book to Help Readers Scale Great Heights thro

Minority Business Owners Thro
Benzinga
By Business Wire
Organizations kick off National Entrepreneurship Month with commitment to propelling the future of New Jersey businesses and a focus on the next generation of founders
Cross River Bank (Cross River), a technology infrastructure provider that offers embedded financial solutions, and TechUnited, a non-profit membership organization focused on empowering entrepreneurs & innovators, announce the launch of the 2nd Annual Women and Minority Business Owner Mentorship Cohort to benefit women and minority entrepreneurs in New Jersey. AD
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Now in its second year, we're proud to launch this year's Women and Minority Business Owner Mentorship Cohort to benefit underrepresented entrepreneurs in New Jersey together with our longstanding community partner, TechUnited, said Phil Goldfeder, SVP, Global Public Affairs at Cross River. When we invest and empower women and minority business owners with the resources to succeed, we all win. Kicking off with the start of November's National Entrepreneurship Month, the cohort is meant to provide support and guidance to underrepresented founders and business owners as they launch and grow their businesses. The program will run though January, with both virtual and in-person sessions. Program mentors will be matched with business owners based on their business strengths and the needs of the mentee, and could include aid in resolving business challenges, tactical advice or providing guidance in decision-making, among other areas of support.

Cross River and TechUnited Join Forces for Second Year to Empower Women and Minority Business Owners Thro

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While the rise of telehealth has brought us a plethora of advantages in the past two years, the concern of heightened fraud and abuse risks must not be overlooked. On July 20, 2022, the US Department of Health and Human Services Office of Inspector General issued a Special Fraud Alert (Alert) concerning the fraud and abuse risks associated with healthcare practitioners entering into arrangements with telemedicine companies. The Alert follows several civil and criminal investigations into alleged fraud schemes involving companies that claimed to provide telehealth, telemedicine or telemarketing services but allegedly engaged in kickbacks and substandard medical practices to generate medically unnecessary orders and prescriptions for items or services, resulting in submissions of fraudulent claims to Medicare, Medicaid and other federal healthcare programs. The schemes generally involve telemedicine companies that contract with providers to order or prescribe medically unnecessary items and services for individuals who are solicited and recruited by such companies. Common schemes may include telemedicine companies paying practitioners for ordering or prescribing items or services with respect to patients that were never examined for medical necessity. Providers should be on the lookout for the following suspect characteristics when entering into agreements with telemedicine companies:
If patients are being identified or recruited by the telemedicine company through the advertisement of free or low out-of-pocket costs for items or services. If practitioners are not provided an opportunity to interact with patients or gather the information needed from patients to meaningfully assess them and determine the medical necessity of the prescribed items or services. If compensation paid to the practitioners takes into account the volume or value of items or services ordered or prescribed. If the telemedicine company only furnishes services to federal healthcare program beneficiaries and does not accept insurance from other payors. If the telemedicine company purports to provide services to individuals who are not federal healthcare program beneficiaries but actually bills federal healthcare programs. If the telemedicine company provides only one product or class of service, potentially restricting a practitioner’s treatment options to a predetermined course of treatment. The telemedicine company does not collect or provide information to enable or require practitioners to follow up with patients. Overall, it is most important for providers to evaluate telemedicine arrangements to ensure compliance with fraud and abuse laws, to carefully review materials provided by the telemedicine company to ensure compliance with federal healthcare program coverage, to inquire about the telemedicine company’s clinical policies and procedures and to review patient-facing materials.

US Department of Health and Human Services Office of Inspector General Warns Providers of Suspect Telemedicine Arrangements thro...

Acquired

THRO is a designer, manufacturer and marketer of branded home accessories based in Islip, New York.

Date	1/14/2014
Round	Acquired
Amount
Investors	Home Decor Companies
Valuation
Revenue	0 FY undefined
Sources	1

First funding	1/14/2014
Last Funding	1/14/2014
Investor	Home Decor Companies
Rounds	1 Acquired
Board Seats
Type	Corporation
Location	Mississippi

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