Reva Systems takes aim at healthcare

April 28, 2009 | Eric Wicklund, Contributing Editor

From the May 2009 print issue

CHELMSFORD, MA – With new funding, new leadership and a year of positive growth on the books, Reva Systems is entering the healthcare market on a high note.

The Chelmsford, Mass.-based developer of passive RFID systems debuted its new Reva-4-Healthcare package at last month’s HIMSS09 conference and show in Chicago, then followed that with the announcement of a new CEO and $5 million in new venture funding to kickstart growth in healthcare and other areas.

The company’s passive RFID system, which uses antennas instead of battery packs to track objects and people, has been designed to integrate with AeroScout’s MobileView RTLS (real time location system) track-and-trace application platform. The two companies spent the last year fine-tuning the Reva-4-Healthcare package for its debut in Chicago.

“In the past 12 months, UHF RFID technology has matured to a standards-based, high-performance and cost-effective platform for a wide range of new track and trace applications,” said Ashley Stephenson, the company’s co-founder. “We see customers from many industries using the technology in innovative ways to improve both the top line and bottom line of their businesses, whether by driving additional revenues or improving efficiency.”

The $5 million in new funding was led by existing investors North Bridge Venture Partners and Charles River Ventures, both of which have backed the company since its launch in 2004. At that time, Stephenson said, Reva focused on a wide range of industries, including food preparation, shipping and postal services.

In the past year, Reva has seen 43 percent growth, according to company officials. The company also recently announced its 500th customer site.

While Stephenson had been acting CEO, he ceded that position last month to new CEO Bruce Berger. Prior to joining Reva, Berger had served as president and CEO of Verrillon, Inc., a venture-backed specialty optical fiber company focused on applications in the oil and gas, military/avionics and industrial markets.

“It is great to see a start-up company’s first product achieve recognized success, as Reva’s TAP Appliance has done,” Berger said.

Reader Comments (1)Login to Post a Comment

Valeria says: Re: Reva Systems takes aim at healthcare

December 23, 2009 | 12:46AM GMT

Oil and gases can affect our health. But, if this affects our health, why does oil price continuously growing? Since transportation and manufacture of goods all hinge on the price of oil imports and exports, any change in the price of goods or oil create ripples. For instance, a recession causes the price of goods to drop, due to less demand. Thus, the revenues decrease for oil producing nations, especially OPEC, which leads to them raising prices to compensate. The rise in prices causes the price of goods to rise, and therefore people needing to borrow money, along with corporations and governments, to compensate for the rising costs of goods, services, and also oil.