Dallas, Texas – October 10, 2006 – Chronicity, Inc., a provider of integrative treatment for Attention Deficit Hyperactivity Disorder (ADHD) and related conditions, announced today that it has received a Series A investment commitment of $12.5 million. The financing was led by Louisville, Kentucky-based Chrysalis Ventures, a leading source of equity capital for growth companies in the Midwest and South.
The preferred equity investment will be used to support Chronicity’s launch of treatment centers in the Dallas and Boston metropolitan areas, and provide working capital towards further expansion efforts potentially including the treatment of other chronic disorders. Chrysalis’ co-investors in the financing include the company’s co-founders Robert S. Baurys II and Susan Hrim.
Operating under the name of ADD Health and Wellness Centers, Inc., Chronicity offers a uniquely integrated and customized approach to treating ADD (Attention Deficit Disorder), the more commonly used term for ADHD. Through the development of a proprietary treatment algorithm which includes nutritional counseling, medication management, psychological services, skills coaching, and an outcome management system, ADD Health and Wellness is creating a revolution in the treatment of ADD/ADHD via its unique one-stop shop approach. As a result, the company offers more focused and comprehensive care than the traditional care offered by primary care physicians. In its facilities, medical, testing, and counseling services, which are typically all separately owned and located practices, are fully integrated. The company maintains an outcome database, the first of its kind, to quantitatively monitor and measure the success of its program.
According to Robert S. Baurys II, Chronicity Chief Executive Officer, “We are delighted to partner with Chrysalis Ventures for this important round of initial financing. In addition to capital, Chrysalis brings valuable strategic insight and experience to the table as Chronicity seeks to become a leader in the treatment of chronic disorders, of which ADD is the first we plan to address.” Mr. Baurys previously founded Fibromyalgia and Fatigue Centers, Inc. which under his leadership grew to more than 15 treatment centers across the nation.
“People are paying directly for an increasing percentage of their healthcare, and in return should demand high quality and value, and a satisfying consumer experience,” said Koleman Karleski, managing director of Chrysalis Ventures. “Chronicity has developed a unique business model to provide exceptional healthcare service to individuals suffering from chronic clinical conditions.”
Chronicity, Inc., operating under the name of ADD Health and Wellness Centers, specializes in providing integrative treatment for Attention Deficit Hyperactivity Disorder (ADHD) and related conditions with a focus on achieving positive long term results. Through the development of a proprietary treatment algorithm which includes nutritional counseling, medication management, psychological services, skills coaching, and an outcome management system, ADD Health and Wellness is creating a revolution in the treatment of ADD/ADHD. For more information, please visit www.addhealthandwellness.com.
About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures is a leading source of equity capital for young growth companies in the Midwest and South. Chrysalis invests primarily in early-stage and expansion-stage companies in healthcare services and technology, media and communications, and business services. Based in Louisville, Kentucky, Chrysalis has more than $250 million under management and has made investments in over 50 companies. For more information, please visit www.chrysalisventures.com.