LIVINGSTON, NJ, August 3, 2018 – Corsis announced today a partnership with The New Jersey Innovation Institute (NJII), an NJIT Corporation. The partnership will provide NJII’s 150+ HealthIT Connections companies with access to the Corsis platform, which, like a credit report, scores healthcare companies on risk and compliance.
Corsis is a unique SaaS application that gives healthcare executives a powerful platform to make technology decisions while reducing the friction that slows the working relationship between healthcare providers and their vendors or partners. “We see our partnership with NJII as a way to introduce our platform to a wide audience of digital health companies, giving them the tools they need to more readily implement innovative solutions and foster innovation throughout the healthcare environment” said David Barnett, chairman and COO of Corsis LLC.
NJII’s Health IT Connections program connects health IT innovators with healthcare executives, providers and consumers. It was established in 2014 to grow the health IT cluster in the region by supporting growth-stage health IT entrepreneurs through intensive training and mentoring. The program is funded in part from JPMorgan Chase’s Small Business Forward SM initiative. Twice a year the HealthIT Connections conducts an executive networking and learning program for a select group of qualifying HealthIT CEOs. There are no fees or equity required by entrepreneurs to participate.
“The ecosystem of a healthcare company is filled with obstacles, and compliance is oftentimes a big hurdle for startup companies. The Corsis application will help NJII cohort companies meet their compliance requirements, allowing them more opportunities to focus on innovation” said Judith Sheft associate vice president, technology & enterprise development at NJII.
Several NJII cohort companies have already engaged with the Corsis platform to help prepare themselves for clinical trials with area hospitals or to help them meet their general compliance obligations.
Evaluating Risk in a Tech Driven World
Tuesday, May 15, 2018
7:00 to 9:30 a.m.
Pleasantdale Chateau, West Orange, NJ
David Barnett, COO and Lenny Herold, CTO of Corsis, a leader in technology and compliance assessments, will present how the company revolutionized the way organizations evaluate their technology operations, assess risk, and make investment decisions.
The discussion will highlight modern methods of assessing corporate risk, including internal tech operations among vendors, business partners and during the M&A process, as well as best practices. Practical examples will also be given along with topics including employee and organizational risk, data privacy like GDPR, managing vendor risk, and some industry-specific information as well as infrastructure and physical risk factors.
For more information and to register, please click the link below.
NEW YORK, NY, January 9, 2018 -- Corsis, the platform that scores technology operations for risk and compliance, is pleased to announce the appointment of Rich Ferraro as Vice President, Mergers & Acquisitions. Richard joins the Company’s award-winning technology due diligence team and will be responsible for expanding Corsis’s market share within the M&A sector and helping to extend the Corsis platform into new verticals. Based in Los Angeles, California, the addition of Rich also marks the Company’s anticipated geographic expansion to the west coast of the United States.
“We could not be any more excited to have Rich join the Corsis team. His deep knowledge and experience in both the technology industry and the M&A sector will ensure that Corsis continues to bring innovative and industry-leading products to market” said David Barnett, Chairman of Corsis. Barnett went on to say “Rich is not just an industry veteran, but his diverse experience, ranging from startups to Fortune 100 corporations, will prove to be an immediate asset to the firm.”
Rich brings over 10 years of experience to Corsis as a private equity/M&A professional with specific experience in technology due diligence, merger integration, and carve-outs. Prior to that, Rich spent 20 years in the software industry in executive management and operational roles. Most notably with Microsoft, the Oracle ERP reseller channel and eLabor, which was sold to ADP. Rich is also a member of the Farmers Insurance Group’s Board of Governors. Rich holds a BA in Economics, Psychology & Social Studies from UC Santa Barbara.
Executive Health Tech Roundtable Discussion and Networking Reception
Hosted by Turinas & Bird, Attorneys At Law
Wednesday, October 11, 2017 at 6:00 pm,
Eberhardt Hall*, NJIT
Co-hosted by the Health IT Connections program @ New Jersey Innovation Institute
Gregg Alwine, serial entrepreneur for midmarket businesses offering services to larger international firms in CPG, Healthcare, Finance and Food Service
Chip Reichhard, sales professional, and veteran of successful strategic alliances at Ariba and SAP
Healthcare technology providers are challenged, selling to a market with unique characteristics and competing in a highly fragmented industry. This interactive discussion will detail how providers can use various kinds of strategic alliances, tailored to the type of alliance partner, to reach a broader target market (not just one-at-a-time sales) and drive revenues with a more effective, strategic approach. We'll discuss how others in this industry have succeeded, and some novel approaches to interactively brainstorm over. There will be no charge to qualified, pre-registered attendees; $25 for others. Use discount code "Healthtech" when registering:
Or send a "manual" message to Development@TurinasBird.com to register.
*Eberhardt Hall, built in 1857, was restored and rededicated several years ago to house NJIT’s alumni center. The restoration took great care to ensure period authenticity. The wall and ceiling coverings reproduce patterns introduced by Christopher Dresser, arguably the 19th century’s foremost designer of residential and industrial environments. Eberhardt Hall is a rare example of the Gothic architecture of the mid-19th century, built in the Elizabethan style with turret and battlements reminiscent of 15th and 16th-century castles. There is only one other Elizabethan Gothic in New Jersey and fewer than ten on the entire Eastern Seaboard.
For additional information on this event, please contact Alice Turinas at firstname.lastname@example.org.
PHILADELPHIA, PA - David Barnett, COO of Corsis LLC, will be speaking about cyber security on Monday, September 18th at the 2017 Risk Summit sponsored by the Nonprofit Risk Management Center. Barnett will be joined by insurance expert Anthony DeGraw of Meeker Sharkey & Hurley.
The session titled Digital Art: The Evolving Landscape Of Cyber Security, will explore cyber security insurance coverage and assessments, monitoring and mitigation practices, and business continuity—both in terms of resilience and incident management. As a seasoned entrepreneur, Barnett will share insights from his extensive experience in the cyber security sector as he has led Corsis’s operations in developing its expertise in sustaining and managing not only the company’s cyber security initiatives but also its clients.
During this workshop, attendees will learn about the pillars of cyber security: Insurance, IT, Physical Security & Employee Management. This workshop will be interactive as speakers facilitate a basic assessment and share lessons from real cyber security experiences.
For more information, or to register follow this link: 2017risksummit.org/session/digital-art-evolving-landscape-cyber-security/
Corsis provides a revolutionary new way to objectively visualize the health, risk and opportunity within an organization’s technology operations.
These prestigious M&A Awards, from Acquisition International mark the fourth year in a row that Corsis has been named the Best Due Diligence Provider-USA and the first time the Corsis platform has been recognized as innovative tool for assessing technology risk throughout an organization.
Corsis provides a revolutionary new way to objectively visualize the health, risk and opportunity within an organization’s technology operations. For more than 25 years, Corsis has been providing M&A due diligence, compliance readiness and IT planning solutions to the world’s leading investors, investment advisors and corporations. The Corsis approach and is unique and ensures continuity and quality by delivering the most robust, comprehensive, and cost-effective solution in the industry.
Corsis believes that the complexity of technology due diligence makes it critical to apply measurable standards to every element of a company’s technology operations. Corsis achieves this by leveraging a patent-pending scoring methodology which objectively gathers information and scores these data for adherence to best-practices, risk and compliance.
Corsis customers receive more than a simple narrative report at the conclusion of an assessment. They receive access to powerful industry benchmarking analytics, where they can drill down into the details of the assessment, compare the target’s segment and cumulative scores with other similar companies, and view their entire portfolio in one place.
"We are very proud of the team behind Corsis. Being recognized as an innovative business intelligence platform validates our investment in developing a game-changing new way for business leaders to make technology decisions," said Corsis CEO, Gregg Alwine.
Corsis is used by firms all over the world and across a wide range of industries. Current trends suggest that regardless of industry or company type, technology and compliance play an increasingly important part in a target company’s operations, risk and value. Moving forward, Corsis is poised to remain the preferred due diligence and planning partner for investors and corporations in this ever-expanding marketplace.
The Acquisition International M&A Awards have been running for 6 consecutive years, focusing on the outstanding efforts and achievements of all those involved in identifying, coordinating and completing the important deals which have the potential to change the fate of businesses, industries and even entire countries.
To view the AI Award article: http://www.acq-intl.com/2017-corsis-llc
BY TAMARA WILLIAMS
Reposted from the New Jersey Innovation Institute
“When I was 14, I decided to be an entrepreneur. I never changed my mind.”- David Barnett
David a seasoned entrepreneur, business executive and philanthropist founded Corsis LLC in 1993. David is responsible for corporate strategy, operations and facilitating the company’s growth through rapid shifts in the technology landscape. In 2007, David led Corsis in its acquisition of Promotions.com Inc. from NBC Universal. This acquisition enhanced Corsis’s strong presence in the marketing technologies sector.
In 2009, David helped take Promotions.com (including Corsis) private and became COO of the company. Thereafter, he built it to be a leader in the industry and finally sold Promotions.com to ePrize (now HelloWorld) in 2013.
David also serves as Managing Partner of Marshall Junction Partners LLC. At MJP, David has led investments in several early-stage businesses in the digital photography, marketing, footwear and software industries.
Community involvement and volunteerism is deeply important to David. As Mayor of Springfield, NJ, David fostered a long-term plan for the redevelopment of Springfield’s downtown business district, revitalized its community center and advocated for residents at the county, state and federal levels on many issues. Additionally, David was a candidate for NJ State Assembly in 2015 and endorsed by organizations including the NJEA, FMBA and AFL-CIO. David is a board member of the All Stars Project of New Jersey, a non-government funded organization dedicated to providing after-school programs and career development opportunities to youth in the nation’s poorest communities.
Tell us how Corsis came about?
My grandfather, father and two older brothers have all owned their own companies. When I was in junior high school, I set up a business designing and printing t-shirts for my school clubs and teams. From an early age, my view of a career was to graduate from college, work somewhere for while and figure out what my business was going to be.
This is exactly what I did. After working at the advertising agency Foote, Cone & Belding and then U.S.News and World Report, I was presented with an opportunity to develop software for The Museum of American Financial History (now the Museum of American Finance, www.moaf.org). Working evenings and weekends, I learned how to develop software specific to their needs. It was 1994 and small companies were first adopting computers.
When I completed the project, the client asked whether he could share the software across two of his computers. It was at this moment that my business model was put in place. In the early 90s, good, responsible IT service resources were hard to come by for small and medium sized businesses. These companies were just starting to put computers on their desks and wanted a hands-on, holistic guide into this new realm. My ability to handle both software and hardware issues in an agnostic manner, which put the client first, was unique. The market was wide open.
Over the years I grew this model of servicing all of our client’s technology needs. As the market changed so did we. At first, besides development and networking, we sold computers and hardware. Eventually we couldn’t compete against Internet retailers so we dropped hardware sales and added hosting services at Equinix’s brand new Newark NJ datacenter. The business continued to grow organically based on the original principle: Corsis sits on our client’s side of the table, always delivers on time and at a reasonable cost.
In May 2001, my current business partner Gregg Alwine joined Corsis, bringing with him a key new client, Promotions.com Inc. Promotions.com, a public company, outsourced all their technology operations to Corsis. Overnight, we gained a significant datacenter footprint and added staff. This gave us the infrastructure and pedigree to continue growing the business. In 2003, iVillage purchased Promotions.com and outsourced full management of the business to Corsis.
This was transformative for Corsis. We were now servicing some of the largest brands in the world and becoming known as a force in the marketing technologies space. The path we were on eventually led us to become the technology provider for all of iVillage in 2005, Giftcertificates.com and several others. By 2006 Corsis had a staff of over 100 with offices in New York, Chicago and Omaha.
In 2006, NBC/Universal acquired iVillage. This gave us the opportunity to purchase Promotions.com outright. Seeing the value in the business, we arranged financing through our bank and closed on Promotions.com in the summer of 2007. Shortly thereafter, we received an offer to buy the newly combined Corsis and Promotions.com from TheStreet.com (NASDAQ: TSCM). We accepted the offer and soon became a subsidiary of this public company.
Life as a public company was both exciting, challenging and a learning experience. However, as time progressed, it was obvious that the evolving strategy of our parent company did not include Corsis and Promotions.com. When one door closes another opens and this was one of those times. In 2009, TheStreet.com presented us with an offer to purchase the company back. We took them up on it and by December of 2009 Corsis and Promotions.com was once again a private company.
Now private and able to clearly assess our opportunities, Gregg and David made the decision to break the company into two separate entities and pursue growth opportunities for both. Promotions.com had a strong business model. It still had our core client, Kraft, and we focused on the sales effort. Over the next few years we added major new clients including Nestle, ConAgra, Clorox, Mondelez, AT&T, Hasbro and many others. Growing fast and profitable at the same time, we once again grabbed the attention of a buyer. In 2013, ePrize (now HelloWorld) bought Promotions.com.
This left us to focus back on Corsis. We knew that we would not be competitive with our former model of outsourced IT services, so we started on yet another transformation. This time it was into the Corsis of today. Today’s model is the perfect culmination of the years of hands-on IT consulting and M&A experience. To be hired for our expertise is a great place to be, and our new IT Business Intelligence tool is the model that will bring us to the next level.
What service/product do you offer and what sets you apart from your competitors?
Corsis allows companies to score technology risk and compliance like a credit score. Our SaaS business intelligence tool uses a proprietary patent-pending scoring model called the Corsis Confidence Index™, which replaces traditional due diligence and IT consulting models.The Confidence Index helps healthcare organizations better adhere to strict HIPAA compliance mandates and ultimately fosters the alignment of IT investment with business performance.
What do you like most about being a part of the Health IT Connections Program?
The Health IT Connections Program has created an invaluable community of professionals and companies that all are interested in each other’s growth and success. I value the opportunity to be part of this community and not to only benefit from it’s members but also to help them succeed.
Who are you looking to connect with?
We are always looking to connect with companies who have a regulatory or compliance obligation like HIPAA, or PCI. Corsis’s software is perfect for helping these companies identify and mitigate compliance related risk within their day-to-day operations. Additionally, Corsis is used by many professional investors to evaluate the technology operations of potential investment targets. We are very much interested in meeting investment professionals on both the buy and sell side.
Finally, and most importantly, we wouldn’t be anywhere without our staff and partners. Good talent is crucial to our growth and to that end we are always interested in connecting with people and companies that have expertise in many different fields. Subject matter experts in healthcare, technology and compliance are always valuable. Salespeople, developers, UI/UX people, project managers and designers are all people we would want to meet.
Please share any recent milestones since joining the cohort.
We just joined the cohort so we’re looking forward to future milestones. However, the work we’ve done so far such as, identifying and articulating our elevator pitch, value proposition and related information on the business model canvas has helped us to adjust how we position Corsis in the market. We recently test drove this new language at HIMSS with great success. We left the conference with several valuable commitments from new clients who want to use Corsis.
NEW YORK, NY – Lenny Herold, CTO of Corsis LLC, will be speaking on a panel sponsored by the NY Tech Alliance on data security. The panel titled, Data Security: Protecting Your Customers and Your Company In Dangerous Times will be held on January 24, 2017, 6:00 PM at Anchin, 1375 Broadway, 23rd Floor, New York, NY.
This panel assembles a group of experts including lawyers in the field of digital data security law as well as engineers who specialize in the security of data processing systems and responding to data security incidents. The goal of this panel is to provide the community with some practical insights – both legal and technical – into mitigating the risk of, planning for and dealing with data security incidents.
Mr. Herold is a technology industry veteran, specializing in operations, systems and network management and infrastructure development. For the past decade, Mr. Herold has led operations teams for public and private companies, managed multi-million dollar budgets, and seamlessly merged and segmented teams of systems and network administrators for acquisitions and restructuring. He has also been responsible for the consolidation of multiple data centers to generate optimal ROI.
Other panel participants will include Randal Milch, Distinguished Fellow, NYU Law School Center, Ted Sabety, Principal, Sabety+associates, PLLC, Jim Pastore, Partner, Debevoise & Plimpton. This event is free for NYTECH members and sponsors and $20.00 for non-members.
Click here to register for the event.
NEW YORK, NY - Corsis (www.corsis.com) the revolutionary new technology scoring application that provides companies with an objective way to visualize the health, risk and opportunity within their technology operations, announced this week that it has won two prestigious M&A awards. Acquisition International magazine named Corsis the 2016 Best Due Diligence Provider - USA as well as the 2016 Best Private Equity Due Diligence Provider - USA & 2016 Best Proprietary Due-Diligence Tool. These honors represent the fourth year in a row that Corsis has won similar awards for its excellence in providing technology due diligence solutions.
Newark, NJ - David Barnett, Gregg Alwine and Corsis were honored by the All Stars Project of New Jersey on the occasion of its annual benefit dinner today at the Robert Treat Hotel in Newark. For over 10 years the pair has supported the All Stars Project by helping raise contributions, underwriting organization’s website and volunteering countless hours.