LOUISVILLE, KY (March 31, 2003) – Chrysalis Ventures, a leading source of equity capital for young growth companies in the Southeast and Midwest, announced today that it has led a $3 million investment in Ann Arbor-based HealthMedia, Inc., a leading behavioral science technology company.
“We are thrilled to receive the backing of an investment firm of Chrysalis’ caliber,” says Ted Dacko, President and CEO of HealthMedia. “Our relationship with Chrysalis will provide added financial strength, valuable business expertise, and key industry contacts. It is a tribute to HealthMedia’s dedicated employees that we have been able to secure funding in today’s tough economy.” HealthMedia will use this infusion of capital to expand the development, sales, and marketing of its tailored behavioral support programs for the pharmaceutical/medical device market, the healthcare market, and organizations focused on disease management.
“HealthMedia is an exciting investment,” says Koleman Karleski, Chrysalis Ventures Principal, who has joined HealthMedia’s board of directors. “The company has an outstanding opportunity to build on its strong portfolio of blue-chip customers and demonstrated program effectiveness in both the pharmaceutical industry and the wellness industry—exactly the kind of company venture capitalists are looking for today.”
David Jones, Jr., Chrysalis Ventures Chairman, added, “HealthMedia’s cost-effective, personalized messaging is ideally positioned to help the pharmaceutical industry educate its customers on compliance with prescription regimens, as well as to help employers and health plans promote wellness and healthy life choices. HealthMedia has recently completed two very positive clinical trials, one in the pharmaceutical industry and the other for a health plan. These trials have confirmed the effectiveness of Healthmedia’s programs, which combined with the demonstrated and growing industry need position Healthmedia for explosive growth.” Mr. Jones also serves as non-executive Vice Chairman of Humana Inc. (NYSE: HUM).
Founded in 1998, HealthMedia is a behavioral science technology company that builds and delivers tailored behavioral support programs for the pharmaceutical/medical device market, the healthcare market, and organizations focused on disease management. By combining the personal touch of a counselor with the cost-effectiveness and scalability of Internet and print delivery, HealthMedia produces proven outcomes and positive ROI. HealthMedia has created highly successful programs for conditions and issues such as diabetes; HIV; hypertension; hemophilia; arthritis, migraine, lower back pain, and other chronic pain conditions; teen health; smoking cessation; nutrition improvement; weight management; physical activity; stress management; and health risk assessment. For more information, please visit www.healthmedia.com.
About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures is a leading source of equity capital for young growth companies in the Southeast and Midwest. Chrysalis invests primarily in early-stage and expansion-stage companies in technology-enabled business services, media and entertainment, and healthcare information technology and services. Based in Louisville, Kentucky, Chrysalis has more than $200 million under management and has made investments in 40+ companies. For more information, please visit www.chrysalisventures.com.