Durham-based Bivarus raises $4 million in equity
A Durham-based hospital and health care insight company has raised $4 million in equity, according to a filing Monday with the Securities and Exchange Commission.
Bivarus Inc. raised the full $4 million in equity from 20 investors.
The form was signed by David Levin, Ronald Creatore, Donald Holzworth, Kevin Schulman, John Crumpler, Bobby Bahram and Michael Loscalzo.
Levin is the chief executive officer. He previously was the vice president of marketing at Clinipace Worldwide from 2008 to August 2014.
The company, which was founded in 2014, works to collect data to give insight as to how patients are treated and to measure their satisfaction of quality of care. Bivarus also raised $2 million last March.
This is a new notice with the first date of sale on Feb. 10. The offering is not intended to last more than one year.
None of the money will go toward executive salary, and the offering is not being made in conjunction with a business combination transaction. There is no minimum investment accepted from any outside investor.
The company claimed a Rule 506 (b) exemption for the filing. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
