April 30th, 2015 by Eric Dobson
Knoxville, TN (PRWEB) April 30, 2015 – Angel Capital Group, a leading national angel investor network, is proud to announce that it has made an investment in Stone Medical, Inc. (http://www.stonemedcorp.com/). Stone Medical Corporation provides hospitals with Clean Collect Blood Culture Kits. Clean Collect uses a patented diversion method to reduce contamination of blood cultures by an average of 74% in clinical practice. Blood culture contamination results in unnecessary treatment of 1.2 million patients each year and costs hospitals worldwide a total of $15.3 billion annually.
Stone Medical launched its solution in 2013 and recently signed a large strategic partner who is also a sales channel for the company. Stone Medical expects to expand its client base through both direct and channel sales going forward based on its documented means of reducing false positive blood cultures and saving hospitals significant money.
Ben Stone, CEO of Stone Medical said “Stone Medical addresses a real problem faced by hospitals in the new world of outcome-based medicine, how to reduce the number of false positive blood cultures. ACG’s capital will allow us to throw more fuel on the fire. We will be expanding our client base considerably in 2015 and beyond.”
Eric Dobson, CEO of Angel Capital Group, elaborated on the advantages of the company saying “Stone Medical solves a real problem with a patented solution. Ben has great industry experience and is both a strong engineer and leader. We expect great things from this company.”
About Angel Capital Group
Angel Capital Group is a fully syndicated “angel” capital private equity network with operations in nine states. ACG recently consolidated its operations with RAIN Source Capital. The combined entity enjoys a 10 year history and has invested approximately $44M in 131 companies across a variety of market sectors. The combined portfolios have created over 4500 jobs and $750M in follow-on capital investments by other funds. For additional information about Angel Capital Group and its investment criteria, visit online at www.theangelcapitalgroup.com, @angelcapitalgr, orwww.facebook.com/angelcapitalgr.
CEO, Angel Capital Group
118 North Peters Road, Suite 159
Knoxville, TN 37923
Phone: (865) 272-9677