May 27, 2015 – Envisage Advisors Leads Second Transaction for Soberlink, Inc.
Los Angeles, CA, May 27, 2015 – Envisage Advisors, LLC (“Envisage”) announced today that Soberlink, Inc. (“Soberlink” or the “Company”) has completed (i) the sale of its Criminal Justice business division and (ii) a capital raise for its Healthcare business division which is now a stand-alone company named Soberlink Healthcare, LLC (“Soberlink Healthcare”). The transactions will allow the senior management team to continue executing the strategic growth plan across the United States and Canada in the healthcare, addiction treatment and workplace employee assistance markets.
Founded in 2010 with the intention of delivering a revolutionary tool to the healthcare market that discreetly and conveniently monitored alcohol addiction, Soberlink introduced a new approach to recovery with the launch of the first truly mobile handheld alcohol monitoring system, the SL2 (2012). An unobtrusive device that features facial recognition, the SL2’s cellular technology transmits breath alcohol tests directly from the SL2 Breathalyzer to a user-friendly, cloud-based monitoring web portal. The Company’s software as a service platform can be customized and scaled to specific client needs and its devices and software services are currently offered in all 50 states and Canada.
This is the second corporate finance engagement Envisage executed for the Company. In April 2014, Envisage advised the Company in connection with raising growth capital.
Please contact Leo Fernandez or Tony Borrego, if you would like to discuss this transaction or other opportunities.