A Medical Device Daily

Intelligent InSites (Fargo, North Dakota) reported that Arthur Ventures (Fargo), a venture capital group, has chosen the company to be the first major investment from its initial $11.3 million dollar growth fund.

Arthur Ventures Chairman Doug Burgum will sit on the Intelligent InSites board.

Intelligent InSites CEO Mark Rheault said the infusion of capital from Arthur Ventures will enable the company to expand its sales and marketing and further develop its product offerings. Intelligent InSites saod ot is projecting to grow by 500-700% this year, and will continue to expand rapidly in 2009.

"With a product conceived and developed in this region, but with global application, and an ambitious plan to succeed, it was exactly the kind of business we were looking for," said Burgum.

Jamest Burgum, managing director of Arthur Ventures, was part of the due diligence process prior to an earlier investment by two regional investment groups in Intelligent InSites. "From early on, Intelligent InSites was a company we had on our radar," he said. "They had great regional support from angel investors in their first round, and we felt Arthur Ventures could fill a financial gap that would help them get to the next level."

Intelligent InSites is a provider of enterprise visibility solutions for healthcare. It says that its InSites Enterprise Visibility Platform is designed to provide healthcare organizations with a single system capable of locating patients, staff, equipment, and inventory via information derived through a variety of wireless real-time location technologies.

The company said the platform serves as the core of the enterprise visibility strategy for its clients by enabling the integration of real-time location data with existing IT systems, communication systems, building systems and mobile devices.