PeriGen, an obstetrics information technology company based in Alexander Park, announced it has raised more than $6 million in funding, achieved record bookings, and expanded its senior management team during the first quarter of 2013.
PeriGen, in a news release, said that better than anticipated earnings in 2012 helped the company to raise $6.4 million from private investors to be used for product development and marketing.
Last year the company increased revenue by 11 percent and signed a “record number” of new hospital and health system clients. Meanwhile, PeriGen’s patent portfolio increased by five, bringing its total of patents to 23.
The company also expanded its leadership this year with the appointment of Thomas J. Garite as chief clinical officer. Garite is an obstetrics, gynecology, and maternal-fetal medicine specialist and editor-in-chief of the American Journal of Obstetrics and Gynecology.
“Hospitals increasingly select us as their preferred perinatal vendor because our solutions provide so much more clinically relevant and actionable information than other solutions on the market,” said Perigen CEO Matthew Sappern.
PeriGen’s products — designed to monitor women and babies during the period just before and after childbirth — include the PeriBirth system for obstetrics and the PeriCALM fetal monitoring system.
PeriBirth is an interactive software designed to assist healthcare professionals with decision making tasks, and determining diagnosis of patient data in order to reduce obstetric errors, complications, and risk.
PeriBirth runs on a computer at the patient’s bedside, monitors the mother’s and baby’s changing conditions during childbirth. It considers the mother’s specific medical history and gives real-time prompts, alerts, and suggestions to the clinical team.
PeriCALM monitors contractions and fetal heart rate response during labor for changes in the mother’s labor progress, the strength of her contractions, and the baby’s reaction to her contractions over long periods of time.
According to PeriGen, a study published in the American Journal of Obstetrics and Gynecology last August tracked the application of PeriCALM Shoulder Screen over a four-year period.
The study showed that the rate of shoulder dystocia fell by 56.8 percent with no change in the primary cesarean delivery rate during the study period.
Shoulder dystocia is a rare complication of childbirth that can result in permanent handicaps such as Erb’s palsy. This study was the first published report of a method that was associated with both a reduction in shoulder dystocia rates and stable primary cesarean rates.
PeriGen, 700 Alexander Park, Suite 100, Princeton 08540; 609-228-7898; fax, 609-228-8224. Matthew Sappern, chairman and CEO. www.perigen.com.