WiSpots CEO Kevin Flannery was mauled by sharks on TV last week, but he has since licked his wounds, ready to jump back in the water.

Flannery recently got a chance to pitch his Cary company, which sells wireless devices for physicians' waiting areas, to billionaire investors on ABC's new show "Shark Tank." The ruthless investors, or sharks, were quick to dismiss the concept and essentially told Flannery not to waste any more time or risk any more money.

Since the show was taped mostly in January, Flannery has known for months that the outcome would sting.

"They didn't listen, and they didn't really give me a shot," he said. "But I also know that [millions of] people saw me and my products."

The former Marine has been busy since the taping. In June, he agreed to merge Wi-Spots with Worthington Healthcare of Raleigh.

The combined company, WiFiciency, will sell a range of technology to doctors, including digital transcription products and electronic medical-records software. The company also will sell WiSpots' "Patient Interaction Centers" for physicians' waiting rooms, with gadgets known as WiPads that allow patients to surf online for free.

WiFiciency will collect fees from physicians. It will also make money by selling digital advertising and giving doctors a cut.

Flannery, 43, said last week that he and Worthington founder Jason Angel were in negotiations with potential investors and expect to secure $3.1 million in financing by the end of this month. The merged firm would employ about 25 people. Terms of the merger weren't disclosed.

"We needed each other," Flannery said. His company lacked strong management and a customer base, while Angel's firm was seeking something to set it apart from other medical software providers.

"Those were all reasons investors wouldn't invest," Flannery said. "Now we have investor interest like I never had before."

Flannery's sacrifices

On "Shark Tank," Flannery was seeking $1.2 million in exchange for a 10 percent equity stake. The investors, who risk their own money, listened as Flannery told them that since founding WiSpots in 2002, he has mortgaged his house twice, tapped his children's college funds, his 401(k) and his life savings, and maxed out his credit cards.

That's when the panel pleaded with him to cut his losses and stop sacrificing his family's future on "e-mail in the waiting room" when so many people carry their own Web-surfing phones now.

As Flannery walked out, rejected, judge Robert Herjavec (a.k.a. "the nice one"), said: "That was heart-wrenching."

Until "Shark Tank" aired two Sundays ago, Flannery's hands were tied by ABC's publicity department. He couldn't tell anyone what happened on the show and he couldn't use it for marketing. Now that the show's painful conclusion is over, Flannery is hoping to capitalize on the attention.

Learning and moving on

Flannery recently hired RLCB, formerly known as Raleigh Lions Clinic for the Blind, to run a small call center that's fielding questions from patients, physicians and potential investors and partners, said RLCB spokeswoman Sharon Giovinazzo. The nonprofit employs about 300 people, including 200 in Raleigh. About 80 percent of its employees are legally blind.

"By now, everybody knows what happened on 'Shark Tank,' but this opened up a whole new world for them," she said.

Flannery said that like everything else in life, he learned something from a tough experience and doesn't mind it wasn't a happy, made-for-TV ending.

"I would also encourage any entrepreneur with a passion and vision to try out for the show," he added. "The experience was amazing, and I believe will be a huge benefit to me and my business."