Safeguard Scientifics To Host A Virtual Discussion With Prognos Health

Rhea-AI Summary

Safeguard Scientifics (NYSE: SFE) will host a virtual discussion with Sundeep Bhan, CEO of Prognos Health, on February 23, 2021, at 10:00 a.m. ET. The event will focus on Safeguard's investment in Prognos, which has received a total of $12.6 million in funding since its initial capital injection in 2011, representing a 28% ownership interest. Participants are encouraged to register early to join the discussion live or access it later via the Investor Relations website. For more information on the past events and investment strategies, visit Safeguard's website.

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.

FAQ

What is the date and time for Safeguard Scientifics' virtual discussion with Prognos Health?

The virtual discussion is scheduled for February 23, 2021, at 10:00 a.m. ET.

Who is the CEO of Prognos Health participating in the Safeguard Scientifics event?

Sundeep Bhan is the CEO of Prognos Health and will participate in the discussion.

What is Safeguard Scientifics' ownership interest in Prognos Health?

Safeguard Scientifics has a 28% ownership interest in Prognos Health.

How much capital has Safeguard Scientifics invested in Prognos Health?

Safeguard Scientifics has invested a total of $12.6 million in Prognos Health since 2011.

Where can I find the replay of the Safeguard Scientifics discussion after the event?

The discussion will be available for replay on Safeguard Scientifics' Investor Relations website.