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Caris, Ltd. invests in the healthcare sector based on its longstanding philosophy of Health Improvement. Health Improvement is the concept that by providing higher quality, one can reduce overall costs in the healthcare system. Cost and quality are not at odds with each other. Rather, their goals can be achieved simultaneously with the right approach. With that fundamental goal, Caris has developed its healthcare investments in two strategic channels – Personalized Medicine and Physician Empowerment – that drive towards Health Improvement.
Personalized Medicine: • Caris Diagnostics • Caris MPI Physician Empowerment: • Medical Edge • Phytel Caris Diagnostics Caris completed a $120 million recapitalization of Caris Diagnostics (previously called Pathology Partners) and became its majority shareholder on May 26, 2005. The company has grown over 50% in revenues and EBITDA each year since the investment by Caris Ltd. Caris Diagnostics is a leading provider of the highest quality, sub-specialty focused anatomic pathology services. Caris Diagnostics provides world-class surgical pathology services to physicians who treat patients in an ambulatory setting. The company provides academic-caliber medical consults through its industry-leading team of subspecialty fellowship and expert-trained pathologists in gastrointestinal and liver pathology and dermatopathology. Caris Diagnostics provides the highest levels of service to its customers and their patients through its state-of-the-art laboratories; proprietary, advanced clinical and technology solutions; and rigorous quality assurance programs. More than 1,500 physicians nationally use Caris Diagnostics. In May, 2007, Caris Diagnostics acquired Caris Cohen Dx, previously known as Cohen Dermatopathology. Caris Cohen Dx, based in Massachusetts, is a leader in the Northeast region in dermatopathology. Formed in 1996, the company is headquartered in Irving, Texas and operates four laboratories: Irving, Texas; Phoenix, Arizona (2 sites); and Newton, Massachusetts. Additional information is available at www.carisdx.com. Caris MPI On January 2, 2008, Caris Ltd. became the controlling shareholder in Caris MPI (previously called the Molecular Profiling Institute) which is located in Phoenix, Arizona. Caris operates Caris MPI in conjunction with Caris Diagnostics through its holding company, CDx Holdings. Caris MPI is a CLIA-certified molecular diagnostics company that applies the discoveries of the Human Genome Project to personalized medicine. Through its cutting-edge testing facilities, Caris MPI offers advanced analysis of patient samples through prognostic and diagnostic testing services, including genomic and proteomic profiling, to help guide physicians in the treatment of cancer and other complex diseases. Caris MPI’s pharmaceutical services division, the Tissue Banking and Analysis Center (TBAC), also offers a single-source solution for biospecimen procurement, analysis, storage, tracking, and reporting for research institutes, pharmaceutical and diagnostic companies and medical centers. The company has strategic relationships with the International Genomics Consortium, US Oncology, the Translational Genomics Research Institute, and the Biodesign Institute of Arizona State University. Additional information is available at www.carismpi.com. Medical Edge On December 21, 2006, Caris Ltd. participated in the completion of a recapitalization of MedicalEdge Healthcare Group and became the largest shareholder in the company. MedicalEdge provides comprehensive medical practice management and significantly enhances profitability to its physician clients. MedicalEdge has been continuously engaged in the provision of comprehensive medical practice management services since 1979. From its origins in the specialties of emergency medicine (Metroplex Emergency Physicians, P.A.) and urgent/convenience primary care (Primacare Medical Centers) it has evolved and expanded into the provision of management services for medical practices. MedicalEdge provides services to physician groups that employ over 1,000 physicians in over twenty medical specialties in numerous locations around the country. The following is a list of some of the services MedicalEdge provides to its physician clients as part of the company’s comprehensive practice management model:
Phytel Phytel was founded in 1996 to provide physicians with tools for better managing patient-physician communications and care-related activities. Phytel uses evidence-based disease management and preventive care protocols to identify non-compliant patients that are overdue for service and then automatically notifies them of needed healthcare actions. Phytel integrates with existing technology, including practice management systems and EMR’s, in addition to incorporating prescription data, lab data, and other clinical data, to develop and maintain a health and disease management patient registry for healthcare organizations. As an application service provider (ASP), Phytel provides a hosted solution with no equipment to purchase or install, at an affordable monthly subscription fee. Improved patient and disease management leads to increased quality of care, which ultimately leads to more financial opportunity for a provider. Phytel guarantees a minimum 300% ROI within 60 days and typical Phytel clients see an average return on investment of 500% to 1,000%. Phytel is based in Dallas, Texas. In 2007, Phytel won First Place Honors in the “Towards an Electronic Patient Records Awards” competition at its annual conference in Dallas, TX for the Proactive Patient Outreach solution. Additional information is available at www.phytel.com. Copyright © 2007 Caris,
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