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Note 3 - Acquisitions of Ownership Interests
12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Equity Method and Other Investments Disclosure [Text Block]

3. Acquisitions of Ownership Interests

 

2023 Transactions

 

The Company deployed $3.0 million to Prognos Health during the three months ended  June 30, 2023.  The Company had previously deployed an aggregate of $14.6 million.  Prognos is a healthcare platform company transforming the ability to access, manage and analyze healthcare data in partnership with life sciences brands, payers, and clinical diagnostics organizations.

 

The Company funded $0.3 million of convertible loans to Trice Medical during the three months ended  March, 31 2023.  During the three months ended  September 30, 2023, Trice Medical completed a recapitalization transaction in which Safeguard declined to participate that resulted in Safeguard retaining a small, subordinated debt position and a de minimis ownership interest. The Company had previously deployed an aggregate of $12.0 million.  Trice Medical is focused on orthopedic diagnostics using fully integrated camera-enabled technologies to provide clinical solutions to physicians. 

 

During the three months ended  September 30, 2023, InfoBionic completed a recapitalization transaction, in which Safeguard declined to participate, that reduced our ownership position to approximately 5% and resulted in a $1.7 million observable price change gain to reflect the fair value of the ownership interest.  InfoBionic provides a remote patient monitoring platform delivering on-demand, actionable monitoring data and analytics directly to physicians.

 

2022 Transactions

 

The Company funded $1.6 million of convertible loans to Syapse, Inc.  The Company had previously deployed an aggregate of $25.0 million.  Syapse drives healthcare transformation through precision medicine, enabling provider systems to improve clinical outcomes, streamline operations, and shift to new payment models.

 

The Company funded $2.0 million of convertible loans to Prognos Health Inc.  The Company had previously deployed an aggregate of $12.6 million.    

 

The Company funded $1.4 million of convertible loans to Clutch Holdings, Inc. The Company had previously deployed an aggregate of $16.9 million.  Clutch provides customer intelligence and personalized engagements that empower consumer-focused businesses to identify, understand and motivate each segment of their customer base. 

 

The Company funded $0.5 million of convertible loans to meQuilibrium.  The Company had previously deployed an aggregate of $14.0 million.  meQuilibrium is a digital coaching platform that delivers clinically validated and highly personalized resilience solutions to employers, health plans, wellness providers, and consumers increasing engagement, productivity and performance, as well as improving outcomes in managing stress, health and well-being.

 

The Company funded $0.1 million of convertible loans to Trice Medical.  The Company had previously deployed an aggregate of $11.8 million.  The Company also committed to provide another $0.3 million under certain conditions pursuant to a subordinated line of credit.  At December 31, 2022, the Company's obligation under this line of credit is included in accrued expenses. During the year ended December 31, 2023, the Company funded $0.3 million in accordance with this line of credit.