Mobile firm surpasses milestone

News that Sarasota-based mobile health company Voalte received a $36 million capital investment, courtesy of a New York private equity firm, was certainly a big deal for the fast-growing business.

It's also a big to-do for the Sarasota-Bradenton business community.

Homegrown success stories like Voalte, with a software application that allows nurses and hospital employees to improve communications, aren't everyday happenings.

Voalte, which stands for voice, alarm and text and is pronounced like “volt,” received its capital infusion from White Plains, N.Y.-based Bedford Funding, a $1.4 billion technology-focused private equity firm.

Trey Lauderdale, Voalte's co-founder and president, responded to a few questions from the Business Observer by email.

Where does this investment rank in milestones for Voalte? 
This investment is a huge milestone for Voalte. When you consider that we launched the company only five years ago, with four employees and funding on a shoestring, it's clear we've come a long way in a very short time.

How did Voalte develop a relationship with Bedford?
Raymond James Health Care Investment Banking Group served as exclusive financial adviser to Voalte in this transaction. This is the first foray private equity firm Bedford Funding is making into the health care industry, with plans to invest $1 billion in this market in the future.

What else do you envision happening with Voalte this year in terms of new clients, expansion and investments? 
With 100 hospitals throughout the United States currently under contract with Voalte, we have aggressive plans to continue to expand our customer base in the future. Our staff has tripled in size in the past year and a half, to our current total of 130 employees, and we are continuing to hire in a variety of positions. Our product line is also growing, with the recent launch of Voalte Me, which enables secure texting inside and outside the hospital walls; Motorola MC-40HC, an Android-based mobile computer that provides all-in-one communication via Voalte One plus barcode scanning capabilities; and relationships with all the major electronic medical records vendors to tie in with their future mobile applications.