Investors Include Chrysalis Ventures and Petra Capital
Nashville, Tenn., (July 20, 2007) – ConnectivHealth, a health care information company, today announced it has raised $2.1 million in financing to accelerate its expansion in the national health care digital media space. The news follows ConnectivHealth’s recent acquisition of Nashville-based Relegent, which delivers online health care information to the hospital and education industries. In addition to original company investors, Chrysalis Ventures, Petra Capital Partners, and Scott McQuigg, the company’s President and CEO, other members of the management team also participated in the financing.
“The financing comes at an opportune time as we prepare to launch several innovative Web products for physicians and consumers,” said McQuigg.
McQuigg added that part of the funding also went toward the recently acquired Relegent and its two core brands: HealthTeacher, which provides K-12 health curriculum online to more than 7,000 schools; and Discovery Hospital, offering consumer health content via more than 150 hospital Websites in partnership with Discovery Communications Inc.
“The continued support of our investors enables us to acquire and market unique companies that align with our vision of connecting physicians, schools, hospitals and consumers through a common health care information platform. At the same time, it also allows us to aggressively grow our customer base through new products,” said McQuigg.
In other news, the company is relocating its headquarters from Scottsdale, Ariz., to Nashville and will be moving into a new 7,000 square-foot office in the Nashville area to accommodate recent growth. McQuigg noted that ConnectivHealth will add 10 new positions this year, with as many to follow in 2008.
In addition to its online hospital and education products, ConnectivHealth reaches 150,000 physicians through VerusMed, a company which delivers independent clinical news briefs.
ConnectivHealth is building a network of health care information and new media businesses that enable the delivery, distribution, and organization of important health information for physicians, health care professionals, hospitals, schools, and consumers. The ConnectivHealth network includes HealthTeacher, VerusMed and Discovery Hospital. The company’s investors include Petra Capital Partners of Nashville, Chrysalis Ventures of Louisville, Ky., and members of the management team. For more information, e-mail us at email@example.com.
About Petra Capital Partners
Based in Nashville, Tenn., Petra Capital Partners provides growth capital to business, information, and health care services companies throughout the United States. Petra specializes in helping proven entrepreneurs build sustainable growth companies by serving as a trusted advisor and a reliable source of capital. Petra targets transaction sizes under $10 million in the form of equity or subordinated debt with warrants in high growth companies to fund organic growth, acquisitions, or in certain cases, owner recapitalizations. For more information, please visit www.petracapital.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 health care services and technology, media and communications, and business services. With headquarters in Louisville, Ky., and a second office in Cleveland, Chrysalis has more than $300 million under management and has made investments in over 50 companies. For more information, please visit http://www.chrysalisventures.com/.