LOUISVILLE, KY (April 26, 2005) Chrysalis Ventures announced today that its chairman and founder, David A. Jones, Jr., has been appointed chairman of the board of Humana Inc. (NYSE: HUM). Mr. Jones has served as vice chairman of Humana’s board since 1996 and was unanimously approved today by the board at its meeting immediately following the company’s annual shareholders’ meeting.
As this Humana position is a non-executive role, Mr. Jones will continue to act in a full-time capacity as chairman and managing director of Chrysalis Ventures, a Louisville-based venture capital firm which he founded in 1993. Chrysalis Ventures provides equity capital for young growth companies in the Southeast and Midwest, and invests primarily in early-stage and expansion-stage companies in healthcare information technology and services, media and communications, and education and training. At present, Chrysalis has more than $200 million under management and has made investments in over 45 companies.
“We at Chrysalis are very proud of David and his new leadership position at Humana,” said Irving W. Bailey, senior advisor to Chrysalis Ventures. “From my experience on several public company boards, venture capital firms can benefit greatly from the experience their principals gain from such relevant industry exposure.”
According to John R. Hall, chairman of Humana’s Nominating and Corporate Governance Committee, “As a successful venture capitalist and long-time board vice-chair, David Jones brings vigor, strategic insight and a wealth of experience in healthcare to his new role. His appointment as chairman will help keep the board fully engaged in overseeing shareholder interests and supporting the ongoing success of Chief Executive Officer Mike McCallister and his leadership team.”
“While humbled by this appointment, I’m at the same time eager to lead the board as Humana pursues promising and diversified business opportunities,” Jones said. “Humana’s board and operational leadership are strong and stable, and we’re optimistic about the company’s prospects for significant growth in revenues, health plan membership and net income.”
Mr. Jones is immediate past chairman of the Greater Louisville Health Enterprises Network, a business consortium designed to promote the growth of the heathcare economy in Louisville and the surrounding region. He also serves on the advisory committee of the Brookings Center on Health Policy, on the board of the National Committee on U.S.-China Relations and on the Yale President’s Council on International Activities.
Prior to forming Chrysalis Ventures, Mr. Jones practiced corporate and international law. He served in the U.S. Department of State’s general counsel’s Office from 1988 to 1992, working principally on political and economic issues involving East Asia.
A magna cum laude graduate of Yale University and the Yale University School of Law, Mr. Jones has been a Humana board member since 1993.
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 healthcare information technology and services, media and communications, and education and training. Based in Louisville, Kentucky, Chrysalis has more than $200 million under management and has made investments in over 45 companies.
Humana Inc., headquartered in Louisville, Kentucky, is one of the nation’s largest publicly traded health benefits companies, with approximately 7 million medical members located primarily in 15 states and Puerto Rico. Humana offers a diversified portfolio of health insurance products and related services – through traditional and consumer-choice plans – to employer groups, government-sponsored plans, and individuals.
Over its 44-year history, Humana has consistently seized opportunities to meet changing customer needs. Today, the company is a leader in consumer engagement, providing guidance that leads to lower costs and a better health benefit plan experience throughout its diversified customer portfolio.
More information regarding Humana is available to investors via the Investors Relations page of the company’s web site.