TVRC Announces New Financing
October 22, 2007 – (New York City, NY) TVR Communications LLC is pleased to announce that it has completed a second round of financing with Capital Resource Partners (CRP), a private investment firm focused on middle market companies.
“We love to find businesses and help fuel their growth.” said Robert Ammerman, CRP Managing Partner. “After a strong first half of 2007 for its system integration business, TVRC continued its momentum into the second half of 2007 in both of its key business segments – hospital patient subscription services and hospital interactive entertainment system sales. TVRC continues to dominate the northeast U.S. hospital patient entertainment services market while entering four other key geographic areas including California and Michigan.”
“Over the past year, TVRC enjoyed it’s relationship with CRP while positioning a 57 year-old company to grow beyond its founding family,” said Ed Koch, newly elected Chairman and the second generation of the Koch family to make TVRC his life’s work. “After a year of careful evaluation, TVRC decided to expand the relationship with CRP to ensure that TVRC can serve its customers for another fifty (50) years.” Ed Koch will continue to focus on serving TVRC customers in the Northeastern U.S market.
TVRC also announced that Ed Murphy has been appointed President and CEO. Murphy previously served as TVRC’s Chief Operating Officer.
Murphy, the new CEO said “During 2007 we added four major healthcare system customers to our system integration business line including St. Joseph Hospital of Orange,(Orange, CA), Levine Children’s Hospital, (Charlotte, NC), St. Joseph Mercy Hospital,( Ypsilanti, MI) and Walter Reed Army Medical Center, (Bethesda, MD). The additional investment from CRP and the continued involvement of Ed Koch will allow TVRC to continue the growth of our national system integration business as well as investing in TVRC’s traditional patient subscription business in the Northeast.”
Capital Resource Partners Founded in 1987, Capital Resource Partners (CRP) is an experienced provider of debt and equity capital to middle market companies throughout the United States. CRP manages in excess of $1.1 billion. Capital Resource Partners invests in growth companies with proven business models. CRP specializes in creative, hybrid financing solutions that allow companies to expand, and pursue acquisitions. www.crp.com
About TVRC Founded in 1950, TVRC’s systems and 350 employees will deliver patient entertainment, education and communication services to over six million patients at 200 healthcare locations in 2007. Based in New York City and with regional offices in New Jersey, Florida, California and Ontario, TVRC is a leading innovator in providing patient entertainment and education systems and services. www.tvrc.com
- Contact Information
- Ed Murphy
- Contact via E-mail
This news content may be integrated into any legitimate news gathering and publishing effort. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.