Logi-D finalizes major capital stock financing agreement, a support to its North American expansion
February 5, 2011.
Logi-D Holding Inc. (Logi-D) announces a major capital stock financing agreement with Telesystem Ltd. (Telesystem) and VCIC Inc. (VCIC).
Logi-D is a leading provider of innovative hospital supply chain automation solutions and the inventor of the internationally recognized RFID-enabled two-bin replenishment concept, known under the 2BIN-iD brand.
Initially founded as TRIAX Consulting, a consulting services group specialized in helping hospitals improve their supply chains, Logi-D has developed the iD suite of solutions, which integrate cutting-edge technologies, such as RFID and voice, and storage equipment and services that streamline materials management processes from warehouse to point of use. These solutions are the result of extensive research of best practices in supply chain management, both in healthcare and other industries. They represent the broadest and most integrated suite of supply chain automation solutions currently available to hospitals. Also encompassing comprehensive transformation services, from conception to completion, the Logi-D offering optimizes inventory, substantially improves productivity, and lowers overall costs, resulting in an industry-leading return on investment.
Telesystem, founded by Charles Sirois, is a private capital corporation that owns, builds, and manages innovative businesses around the world; it leverages technology and entrepreneurship to help sustainable businesses in diverse and promising fields thrive and grow.
VCIC Inc. is the Canadian subsidiary of the Crédit Mutuel–CIC investment cluster and business bank, one of the largest players in the French venture capital industry and managing some 2.5 billion euros in capital, 1.8 billion of which represent equity ownership.
“Logi-D now enters a new phase; with a proven suite of solutions, the involvement of investment partners will enable us to accelerate deployment of the necessary resources to support the commercialization and implementation of our solutions throughout North America,” explained Richard Philippe, Founder and Chief Executive Officer of Logi-D. “To date Logi-D has enjoyed steady growth, founded on a detailed understanding of hospital supply chain issues and our ability to combine technologies in an innovative manner to achieve meaningful and sustainable results for our customers.”
According to Robert Talbot, managing partner of Propulsion Ventures, the investment arm of Telesystem that completed the financing, “Logi-D is a company with a huge potential for growth, given its solutions, which have already been proven in the market, and its rich pipeline of methods to improve processes in the healthcare sector—a sector facing serious challenges.”
“Logi-D has developed unique expertise that addresses a pressing need in the hospital sector. Supported by an excellent management team, the company has a highly promising future. This investment illustrates our recent anchorage in the Canadian venture capital ecosystem,” stated Ludovic André, Chief Operating Officer at VCIC.
Telesystem is a Canadian private capital corporation that owns, builds and manages innovative businesses around the world. Telesystem leverages technology and entrepreneurship to grow sustainable businesses in diverse and promising fields, such as health and environment, media and entertainment, Internet and software, and industrial innovations. For more information, please visit www.telesystem.ca.
Based in Montreal and specializing in venture capital investments, VCIC Inc. supports Canadian companies with strong technological skills and smart positioning in high potential sectors, such as information technology, healthcare, and industrial innovation. In a transatlantic spirit, its French roots and extensive multisectorial network offer an entry point to support these companies when they expand into Europe. Its equity ownership approach enables it to establish a close and lasting relationship with business leaders. VCIC Inc. is the Canadian subsidiary of the Crédit Mutuel–CIC investment cluster and business bank, one of the largest players in the French venture capital industry with a portfolio of more than 500 businesses and managing some 2.5 billion euros in capital, 1.8 billion of which represent equity ownership.