Voice Badge Vendor Vocera to Go Public
Vocera Communications Inc., vendor of wireless, one-touch voice communication and documentation software that works via wearable badges and serving more than 750 hospitals, has filed to conduct an $80 million initial public offering of stock.
Founded in 2000, Vocera between October 2010 and January 2011 made its first acquisitions to expand its portfolio, buying four companies in that time span. They included Clinical Health Communications and Integrated Voice Solutions, which have software using landline or mobile phones to manage patient hand-off communications via voice or text; ExperiaHealth, a consultancy specializing in workflow issues; and Wallace Wireless, which sells delivery of pages, text messages and alerts to AT&T and Blackberry smart phones. For now, sales of the core voice communication product account for substantially all of Vocera's revenue, according to the registration statement.
Vocera's financial performance during the last three years shows strong revenue growth in the past 18 months but difficulty being net-profitable, according to a registration statement filed with the Securities and Exchange Commission. The company lost $6.3 million on revenue of $39.8 million in 2008, lost $992,000 on $41.1 million in revenue during 2009, and earned $1.2 million on revenue of $56.8 million in 2010. For the first half of 2011, Vocera lost $1.34 million but revenue topped $37.4 million over six months.