NEW YORK, Oct. 18, 2024 /PRNewswire/ — Turning Rock Partners (“TRP” or “Turning Rock”), a private investment firm based in New York, announced the realization of its $45 million investment in MedShift (the “Company”). The Company is a founder owned and led medical technology software provider based in Charlotte, NC. Turning Rock’s structured loan to the Company was fully realized through a full payoff of its obligations as the Company shifts to long term capital for growth.

“Turning Rock is pleased to announce that MedShift has accomplished a new round of institutional debt financing that will drive its growth for the future,” said Turning Rock Senior Managing Director Erin Andrew. “We were pleased to partner with the Company on its expanding equipment and technology investments. Its next phase of growth will be driven by its exceptional management team. Our model of providing transitional capital to growing founder led companies was demonstrated here.”

Turning Rock Partners targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape.

“We thank Turning Rock for its support which enabled us to expand our investments in technology and team to realize strong growth,” said MedShift CEO Joe Gasque.

Turning Rock’s structured loan to the Company was contributed in April of 2023 as part of a broader $108M financing round led by management and existing shareholders.

About Turning Rock Partners:
Turning Rock Partners (TRP) targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape. For more information, please visit Turning Rock Partners’ website: www.turningrockpartners.com. For Turning Rock investor relations, please contact investor@turningrockpartners.com.

About MedShift:

Founded in 2015 and headquartered in Charlotte, NC, MedShift leads the healthcare sector with innovative SaaS solutions aimed at transforming medical manufacturing. At the core of MedShift’s success is its robust Software offerings, designed to empower the industry with cutting-edge tools for operational efficiency and growth. Through platforms like Velocity, a comprehensive SaaS solution, and Pulse IoT, a connected device ecosystem, MedShift leverages data and technology to enhance business performance and streamline workflows.

Media Contact:
Kate Shepherd, Kate@KateShepherdCommunications.com

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SOURCE Turning Rock Partners

Guests Experienced Hands-on Lab Activations and Engaged with GH Seal Holding Brands

TODAY Co-Host Al Roker Signed Copies of His New Cookbook, Al Roker’s Recipes to Live By

NEW YORK, Oct. 18, 2024 /PRNewswire/ — The Good Housekeeping Institute opened its doors to celebrate the 115th anniversary of the iconic Good Housekeeping Seal on October 8 with exclusive tours of the GH Labs and the famed GH Test Kitchen. Content creators and guests met GH scientists and analysts, experienced hands-on lab activations and shopped the GH Institute Seal Marketplace, to engage with brands that have earned the GH Seal. TODAY Co-Host Al Roker welcomed guests at the event and signed copies of his new cookbook, Al Roker’s Recipes to Live By.

During the luncheon, Good Morning America Lifestyle Contributor Lori Bergamotto interviewed Good Housekeeping Editor-in-Chief Jane Francisco, for a behind the scenes look at the Seal’s rich history and why the Seal remains such a trusted emblem today.

“Since 1909, when Good Housekeeping first coined the term “Seal of Approval,” Good Housekeeping’s Lab experts have evaluated thousands of products, including toys, mattresses, appliances, cars and more, setting the standard for quality and reliability and becoming one of America’s most trusted and influential consumer emblems,” says Good Housekeeping Editor-in-Chief Jane Francisco. “Now more than ever consumers are looking for products that work and are worth their money. Our Lab experts stand behind all of our Seal holding products (and their claims), and we back each one with our signature limited warranty. If an item with the GH Seal does not live up to its promise, our team will help fix the issue — on our dime.”

Founded in 1900, the Good Housekeeping Institute was, at first, called the Good Housekeeping Experiment Station. The staff at the GH Experiment Station tested products and housekeeping methods and published articles about their discoveries and observations. In December 1909, with the beginning of the “Tested and Approved List” of all household products that were found to meet the Institute’s standards of excellence. Good Housekeeping’s Seal became so well known that it has become part of the lexicon with celebrities, governments, manufacturers, basically — everyone — using it.

Not every product that applies for the Seal receives it. The scientists in the Good Housekeeping Institute rigorously evaluate every product that applies to make sure that it performs well and that it does everything it promises, both on its packaging and in its advertisements.

Event partners included: Brooklinen, BÉIS, Bush’s, Cascade, Downy, Swiffer, Dawn, Febreze, Fishers Finery, Little Journey, Mary Kay, Mowi, Mr. Clean, STEM, Tide, Tidy Cats and Weiman.

About Good Housekeeping
Celebrating 139 years, Good Housekeeping (GoodHousekeeping.com) is a leading lifestyle media brand inspiring a monthly audience of 53+ million readers to discover genius innovations, delicious ideas, style-savvy trends, compelling news and best-in-class products for their homes, families and themselves. The Good Housekeeping Institute’s state-of-the-art labs combined with Good Housekeeping’s seasoned editorial talent is unparalleled. Staffed by top engineers, scientists and technology experts, the GH Institute tests and evaluates thousands of products each year for the magazine, website and for the Good Housekeeping Seal and the Green Good Housekeeping Seal, which are among the most recognized and trusted consumer icons in the world today. Good Housekeeping, which also has five international editions, is published by Hearst Magazines, a unit of Hearst, a leading global, diversified media, information and services company. Hearst Magazines, the world’s largest lifestyle publisher, has a portfolio of more than 25 powerful brands in the U.S. that inspire and entertain audiences across all media platforms. Hearst Magazines’ print and digital assets reach 150 million readers and site visitors each month — 57% of all millennials and 53% of all Gen Z adults over the age of 18 (Source: comScore/Simmons Multi-platform fusion 5-23/S23). The company publishes more than 200 magazine editions and 175 websites around the world. Follow Good Housekeeping on Facebook, Instagram, Twitter, Pinterest, TikTok and on the Inside the Institute blog.

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SOURCE Good Housekeeping

SAN FRANCISCO, Oct. 18, 2024 /PRNewswire/ — AI/R, a leading AI platforms and services company, has announced plans to go public in 2025. As a global provider of artificial intelligence innovation to clients including Toyota, BP, and Nestlé, the company projects over $350 million in revenue for 2024, positioning itself for its next growth phase.

“We are ready,” said Gil Torquato, Chairman of AI/R representing UOL, the company’s primary investor. “The company has been profitable since day one, allowing us to invest in growth acceleration.”

The total addressable market for AI in services is in the trillions of dollars, according to a new report by Sequoia Capital calling the opportunity “service-as-a-software.” Sequoia, one of the largest venture and growth investment firms, famous for their investment in Apple in 1978, is now saying “service-as-a-software” will challenge the software development and digital transformation services sector to go from a labor to a platforms business model.

This is where AI/R’s platforms and execution capabilities come in and seem completely aligned with the “service-as-a-sofware” vision. Founded as Compass UOL, AI/R has evolved to position itself at the forefront of the AI revolution, providing its own proprietary AI platforms and services across industries. AI/R also operates six brands that specialize in providing AI innovation through the engineering of enterprise applications and digital products for customers in financial services, consumer goods, retail, telco and utilities: Avenue Code, Compass UOL, Edgy, Everymind, Invillia, and Webjump. 

“AI/R is committed to making AI accessible and transformational for every enterprise we work with,” said Alexis Rockenbach, Global CEO of AI/R. “Our evolution into an AI-platforms business underscores our dedication to leading this revolution and helping our customers achieve unprecedented growth and efficiency through AI.”

The company’s strategic acquisitions in the U.S. and abroad have solidified its global presence, particularly in North America, where AI/R now generates half its revenue. Headquartered in San Francisco, the company serves iconic brands in e-commerce, finance, and technology.

Toyota is doubling its investments with AI/R in 2024, said Alex Pham, research development chief architect at Toyota North America in a Forbes interview this month. The automaker relies on AI/R’s services to test out AI projects in different cloud environments, leveraging the company’s relationships with cloud providers like Amazon Web Services. Toyota is also considering using AI/R platforms and tools for logistics and supply chain management.

AI/R is positioning itself beyond the experimental phase of AI, which still accounts for a large portion of companies using AI tools. While last year around 95 percent of companies operated AI only at an experimental level, that number of initiatives that don’t make it to production, has now dropped to 80 percent, reckons Rockenbach. In contrast, AI/R has moved beyond experimentation with its AI Cockpit platform, which has enabled its clients to accelerate their software development life cycle and has made a tangible contribution to their business growth.

About AI/R

AI/R, based in California, is an AI company at the forefront of the AI-driven revolution of global enterprises, investing in its own groundbreaking AI platforms, AI accelerators, and AI powerhouse service brands. Its own AI flagship products, as AI Cockpit and others, are redefining the software lifecycle and multi-agent system development. With over 6,000 AI and digital platform specialists across our powerhouse brands – Avenue Code, Compass UOL, Edgy, Everymind, Invillia, and Webjump – AI/R is reshaping industries and setting new standards for AI-powered business innovation and productivity. AI/R’s mission is to revolutionize software engineering and agentic AI application development worldwide, making the AI revolution possible in every industry.

View original content:https://www.prnewswire.com/news-releases/air-announces-2025-ipo-plans-as-ai-revolution-accelerates-302280829.html

SOURCE AI/R Group