RADNOR, Pa., Feb. 11, 2021 /PRNewswire/ -- Safeguard
Scientifics, Inc. (NYSE: SFE) ("Safeguard" or the
"Company") announced that it will host a virtual discussion
with Sundeep Bhan, CEO of Prognos Health at 10:00 a.m.
ET on Tuesday, February 23, 2021.
In a continued effort to provide shareholders with additional
information about Safeguard's ownership interests, Dr. Gary Kurtzman will lead a discussion with Mr.
Bhan about Prognos Health.
Safeguard first provided capital to Prognos in 2011 and has
participated in multiple follow-on funding rounds aggregating to
$12.6 million of funded capital and a
28% ownership interest.
Mr. Bhan is a serial entrepreneur dedicated to improving health
using technology. He is currently the CEO and Co-founder of
Prognos Health, a leading healthcare platform company transforming
the access, management and analysis of a vast ecosystem of data on
325 million de-identified patients. Previously, Bhan was the
CEO and Co-founder of Medsite, Inc., in partnership with blue chip
investors like JP Morgan Partners, Morgan Stanley, Bain, and
Reuters, and subsequently sold the company to WebMD in 2006.
Mr. Bhan is a Senior Advisory Board member of Consonance Capital
Partners, a $500 million private
equity fund. He also serves on the Advisory Board of KNB
Communications, Inc. and the Entrepreneurship Lab (ELabNYC).
As a thought leader in digital health, he speaks regularly at
industry events and conferences, including SXSW and JP Morgan, and
was named one of PM360's Elite 100 Entrepreneurs in 2017.
Bhan is a University of
Pennsylvania alumnus.
The discussion will be available live at
https://us02web.zoom.us/webinar/register/WN_WlCiq5v2TICwSMRi-PVGZw
and accessible for replay later at the Safeguard Scientifics, Inc.
Investor Relations website. Please register and log-in
approximately 15 minutes in advance to participate.
Previous virtual discussions with Safeguard companies,
meQuilibrium, Flashtalking and Aktana can also be accessed at
Safeguard's investor relations past events site:
https://ir.safeguard.com/investors/events-and-presentations/past-events/default.aspx
About Safeguard Scientifics
Historically, Safeguard Scientifics (NYSE: SFE) has provided
capital and relevant expertise to fuel the growth of
technology-driven businesses. Safeguard has a
distinguished track record of fostering innovation and building
market leaders that spans more than six decades. Safeguard is
currently pursuing a focused strategy to value-maximize and
monetize its ownership interests over a multi-year time frame to
drive shareholder value. For more information, please
visit www.safeguard.com.
About Prognos Health
Prognos is a leading healthcare
platform company transforming the ability to access, manage and
analyze healthcare data. The company's platform, prognosFACTOR(R)
can query data points on 325M
patients answering complex healthcare questions in seconds versus
months. Customers include 25 of the top 30 pharmaceutical
manufacturers and 3 of the top 5 payers. Our software enables
purchasing healthcare data in the Prognos Marketplace specific to
unique business needs including cohort design, patient journey
studies, health outcomes and more. For more information
visit prognoshealth.com
Forward-looking Statements
Except for the historical information and discussions contained
herein, statements contained in this release may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Our forward-looking
statements are subject to risks and uncertainties.
Forward-looking statements include, but are not limited to,
statements regarding Safeguard's ability
to maximize the value of monetization opportunities of
its ownership interests and drive total shareholder returns.
Safeguard's initiatives taken or contemplated to enhance and
unlock value for all of its shareholders, Safeguard's efforts to
execute on and implement its strategy to streamline its
organizational structure, reduce its operating costs, pursue
monetization opportunities for ownership interests and
maximize the return of value to its shareholders, Safeguard's
ability to create, unlock, enhance and maximize shareholder value,
the effect of Safeguard's management succession plan on driving
increased organizational effectiveness and efficiencies, the
ability of the management team to execute Safeguard's strategy, the
availability of, the timing of, and the proceeds that may
ultimately be derived from the monetization of ownership
interests, Safeguard's projections regarding the reduction in its
ongoing operating expenses, Safeguard's projections regarding
annualized operating expenses and expected severance expenses,
monetization opportunities for ownership interests, and
the amount of net proceeds from the monetization
of ownership interests that will enable the return of
value to Safeguard shareholders after satisfying working capital
needs and the timing of such return of value. Such
forward-looking statements are not guarantees of future
operational or financial performance and are based on current
expectations that involve a number of uncertainties, risks and
assumptions that are difficult to predict. Therefore, actual
outcomes and/or results may differ materially from those expressed
or implied by such forward-looking statements. The risks and
uncertainties that could cause actual results to differ materially
include, among others, our ability to make good decisions about the
monetization of our ownership interests for maximum value
or at all and the return of value to our shareholders, our ability
to successfully execute on our strategy to streamline our
organizational structure and align our cost structure to increase
shareholder value, whether our strategy will better position us to
focus our resources on the highest-return opportunities and deliver
enhanced shareholder value, the ongoing support of our
existing ownership interests, the fact that our companies may
vary from period to period, challenges to achieving liquidity from
our ownership interests, fluctuations in the market prices of
our publicly traded holdings, if any, competition, our
inability to obtain maximum value for our ownership interests,
our ability to attract and retain qualified employees, market
valuations in sectors in which our ownership
interests operate, our inability to control our ownership
interests, our need to manage our assets to avoid registration
under the Investment Company Act of 1940, risks, disruption, costs
and uncertainty caused by or related to the actions of activist
shareholders, including that if individuals are elected to our
Board with a specific agenda, it may adversely affect our ability
to effectively implement our business strategy and create value for
our shareholders and perceived uncertainties as to our future
direction as a result of potential changes to the composition of
our Board may lead to the perception of a change in the direction
of our business, instability or a lack of continuity that may
adversely affect our business, and risks associated with
our ownership interests, including the fact that most of
our ownership interests have a limited operating history
and a history of operating losses, face intense competition and may
never be profitable, the effect of economic conditions in the
business sectors in which Safeguard's companies operate, and other
uncertainties described in our filings with the Securities and
Exchange Commission. Many of these factors are beyond the
Company's ability to predict or control. As a result of these
and other factors, the Company's past operational and financial
performance should not be relied on as an indication of future
performance. The Company does not assume any obligation to
update any forward-looking statements or other information
contained in this press release.
SAFEGUARD CONTACT:
Mark Herndon
Chief Financial Officer
(610) 975-4913
mherndon@safeguard.com
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SOURCE Safeguard Scientifics, Inc.