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Operating Segments (Tables)
 6 Months Ended
Jun. 30, 2013
Active Partner Companies by Segment

The Company’s active partner companies by segment were as follows as of June 30, 2013:

 

Healthcare

 

  

 

Partner Company

Safeguard Primary Ownership
as of June 30, 2013

  

Accounting Method

AdvantEdge Healthcare Solutions, Inc.              

  40.2

%

  

Equity

Alverix, Inc.             

  49.2

%

  

Equity

Crescendo Bioscience, Inc.             

  12.6

%

 

Cost

Good Start Genetics, Inc.             

  30.0

%

  

Equity

Medivo, Inc.             

  34.5

%

  

Equity

NovaSom, Inc.             

  30.3

%

  

Equity

NuPathe, Inc.             

  16.6

%

  

Fair value (1)

PixelOptics, Inc.             

  24.6

%

  

Equity

Putney, Inc.             

  27.6

%

  

Equity

Sotera Wireless, Inc.             

  7.4

%

  

Cost

 

Technology

 

  

 

Partner Company

Safeguard Primary Ownership
as of June 30, 2013

  

Accounting Method

AppFirst, Inc.             

  35.0

%

  

Equity

Beyond.com, Inc.             

  38.3

%

  

Equity

Bridgevine, Inc.             

  22.5

%

  

Equity

DriveFactor, Inc.             

  35.4

%

  

Equity

Hoopla Software, Inc.             

  25.3

%

  

Equity

Lumesis, Inc.             

  44.2

%

  

Equity

MediaMath, Inc.             

  22.2

%

  

Equity

Pneuron, Inc.             

  27.6

%

  

Equity

Spongecell, Inc.             

  23.1

%

  

Equity

ThingWorx, Inc.             

  39.8

%

  

Equity

 

(1) The Company's ownership interest in NuPathe was accounted for as available-for-sale securities following NuPathe’s completion of an initial public offering in August 2010. In October 2012, the Company participated in a private placement of NuPathe preferred stock units, and in conjunction with this financing, the Company placed two persons on NuPathe's board of directors. As a result, the Company determined that it exercised significant influence over NuPathe which made the equity method of accounting applicable to its ownership interests. Instead, the Company elected the fair value option beginning in October 2012. Prior to August 2010, the Company accounted for NuPathe under the equity method.
Segment Data from Operations

 

 

Three Months Ended June 30, 2013

 

 

 

 

 


Healthcare

 

 

Technology

 

 

Penn
Mezzanine

 

 

Total
Segments

 

 

Other
Items

 

 

Total

 

 

 

(In thousands)

 

 

 

(Unaudited)

 

Operating loss             

$

-

 

 

$

-

 

 

$

(4

)

 

$

(4

)

 

$

(6,711

)

 

$

(6,715

)

Interest income             

 

-

 

 

 

-

 

 

 

  380

 

 

 

  380

 

 

 

  410

 

 

 

  790

 

Equity loss             

 

(14,850

)

 

 

(3,399

)

 

 

(94

)

 

 

(18,343

)

 

 

(57

)

 

 

(18,400

)

Net loss             

 

(17,275

)

 

 

(3,399

)

 

 

(13

)

 

 

(20,687

)

 

 

(7,436

)

 

 

(28,123

)

Segment Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2013             

 

  75,154

 

 

 

  61,266

 

 

 

  13,186

 

 

 

  149,606

 

 

 

  186,512

 

 

 

  336,118

 

December 31, 2012             

 

  83,500

 

 

 

  58,753

 

 

 

  12,153

 

 

 

  154,406

 

 

 

  219,738

 

 

 

  374,144

 

 

 

 

Three Months Ended June 30, 2012

 

 

 

 

 


Healthcare

 

 

Technology

 

 

Penn
Mezzanine

 

 

Total
Segments

 

 

Other
Items

 

 

Total

 

 

 

(In thousands)

 

 

 

(Unaudited)

 

Operating loss             

$

-

 

 

$

-

 

 

$

(2

)

 

$

(2

)

 

$

(5,146

)

 

$

(5,148

)

Interest income             

 

-

 

 

 

-

 

 

 

  277

 

 

 

  277

 

 

 

  318

 

 

 

  595

 

Equity loss             

 

(8,820

)

 

 

(56

)

 

 

(69

)

 

 

(8,945

)

 

 

(2

)

 

 

(8,947

)

Net loss             

 

(3,270

)

 

 

(56

)

 

 

(533

)

 

 

(3,859

)

 

 

(6,278

)

 

 

(10,137

)

 

 

Six Months Ended June 30, 2013

 

 

 

 

 


Healthcare

 

 

Technology

 

 

Penn
Mezzanine

 

 

Total
Segments

 

 

Other
Items

 

 

Total

 

 

 

(In thousands)

 

 

 

(Unaudited)

 

Operating loss             

$

-

 

 

$

-

 

 

$

(9

)

 

$

(9

)

 

$

(12,080

)

 

$

(12,089

)

Interest income             

 

-

 

 

 

-

 

 

 

  724

 

 

 

  724

 

 

 

  800

 

 

 

  1,524

 

Equity (loss) income             

 

(20,750

)

 

 

(4,500

)

 

 

(164

)

 

 

(25,414

)

 

 

  27

 

 

 

(25,387

)

Net (loss) income             

 

(22,340

)

 

 

(4,500

)

 

 

  328

 

 

 

  (26,512

)

 

 

(13,550

)

 

 

(40,062

)

 

 

 

Six Months Ended June 30, 2012

 

 

 

 

 


Healthcare

 

 

Technology

 

 

Penn
Mezzanine

 

 

Total
Segments

 

 

Other
Items

 

 

Total

 

 

 

(In thousands)

 

 

 

(Unaudited)

 

Operating loss             

$

-

 

 

$

-

 

 

$

(4

)

 

$

(4

)

 

$

(9,887

)

 

$

(9,891

)

Interest income             

 

-

 

 

 

-

 

 

 

  848

 

 

 

  848

 

 

 

  646

 

 

 

  1,494

 

Equity loss             

 

(15,159

)

 

 

(1,045

)

 

 

(188

)

 

 

(16,392

)

 

 

(3

)

 

 

(16,395

)

Net loss             

 

(6,180

)

 

 

(1,045

)

 

 

(83

)

 

 

(7,308

)

 

 

(12,489

)

 

 

(19,797

)