On-Site Financial

April 30, 2004

OHSU Hand-Picks On-Site Financial to Assist Local Businesses

“Springboard Project” to Provide OHSU Startups with an Array of Accounting, Business Development and Legal Support

PORTLAND, Ore. — New businesses founded on discoveries made at Oregon Health & Science University (OHSU) are getting a boost from a new suite of accounting, business development and legal services provided by the university. The collection of services forms the Springboard Project, which gives selected OHSU startups access to experts in business plan development and review, local venture capitalists, and mentoring from local entrepreneurs. OHSU startups are chosen to participate in the Springboard Project through a competitive review process.

“OHSU is a very fine organization who is playing an increasingly important role in our business community. We are honored to have been selected to participate in their program,” states Dana Alexander Boothby, Principal and V.P. for Business Development.

Springboard Project companies also will have access to the OHSU Startup Pool, which will help pay for incorporation, other initial legal expenses and a year of accounting services. Davis Wright Tremaine, L.L.P., will provide legal advice, and On-Site Financial will provide design, set up, and training of the accounting system, process controls and procedures, and management reporting function.

“The Springboard Project leverages OHSU’s pools of expertise, relationships and resources in science, business management and technology transfer to support as never before the commercialization of intellectual property developed at OHSU,” said Dan Dorsa, Ph.D., OHSU vice president for research.

About On-Site Financial

On-Site Financial was founded in 1992 by Hank Heath to provide accounting and finance organizations with great people and process. Over the years the firm’s service offerings and professional reputation have grown substantially, making it one of Oregon’s 100 Fastest Growing Companies. Their unique combination of extensive recruiting capabilities and in-house professional staff make On-Site Financial very effective at consulting, staffing and recruiting, or providing recurring services.