Contact Information: For More Information, please contact: Laura Cruz TENOR Communications for Chrysalis Ventures 917.406.7517
My Health Direct Closes $4M in Series A Financing Led by Chrysalis Ventures
Company Set to Accelerate National Expansion
| Source: Chrysalis Ventures
DELAFIELD, WI--(Marketwire - December 15, 2009) - My Health Direct, Inc. today announced that
it has closed $4 million in Series A Financing led by Chrysalis Ventures,
and that David A. Jones, Jr., Chrysalis Ventures Chairman & Managing
Director, has joined the company's board. My Health Direct is a provider of
web-based access management solutions to healthcare providers and payers.
The company's platform enables users to search for, compare features of,
and schedule appointments with healthcare providers broadly throughout an
entire community or network. As a result, patients receive proper care
quickly, while customers using My Health Direct cut costs by directing
patients to the most appropriate healthcare professional.
"Since we founded the company in 2006, our Software-as-a-Service platform
has helped hospitals significantly reduce overcrowding in their emergency
rooms in a cost-effective manner," said Jay Mason, Founder and CEO of My
Health Direct, Inc. "With this new capital, we're hiring sales and support
professionals, and are focused on accelerating our expansion, both
geographically and beyond the emergency room. We're getting significant
traction with health plans, state health agencies, managed care
organizations and community health coalitions, who are interested in an
easy-to-use tool that connects patients to the appropriate healthcare
professional in a way that saves time and money."
One use of My Health Direct's solution provides a means for triage nurses
in the ER to re-direct patients with non-emergent conditions to the
appropriate setting in the community. Unlike conventional referral
management solutions, My Health Direct provides a patient with a confirmed
appointment based on his or her needs, such as provider location or
language competency, payer network, and appointment timeliness. The tool
reduces the cost of treating non-emergent patients in the ER, and
establishes a primary-care relationship for the patient in a more
appropriate setting. Recently, My Health Direct has launched its platform
beyond the emergency room, including within Medicaid managed care and
revenue cycle management.
"My Health Direct helps caregivers and care coordinators get the most out
of community resources by using available resources more effectively," said
David A. Jones, Jr. "By helping cut costs and improve patient outcomes in
both government and private healthcare programs, My Health Direct falls
right in the sweet spot of our healthcare investing approach. As the nation
tackles the tough challenges of ever-increasing healthcare costs, there are
significant market opportunities for the deployment of My Health Direct's
scheduling solution. We look forward to working with Jay and his team in
addressing a set of substantial problems."
About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures manages one of Mid-America's largest
funds for early-stage and growth investments with approximately $400
million under management. Focused on partnering with entrepreneurs to build
enduring businesses in industries undergoing significant transformation,
Chrysalis has invested in over 60 companies primarily in the Healthcare and
Technology sectors. Headquartered in Louisville, KY, Chrysalis has offices
in Cleveland, Pittsburgh and Ann Arbor. For more information, please visit
www.chrysalisventures.com
About My Health Direct, Inc.
My Health Direct, Inc., based in Delafield, Wis., provides a Web-based
access management platform for healthcare organizations to connect patients
to providers throughout a community or network. With My Health Direct,
patients receive a confirmed appointment based on specific needs such as
the physician's location, payer network, availability of public
transportation, language and medical specialty. My Health Direct is used by
hospitals, managed care plans, and clinics in four states, resulting in the
reduction of unnecessary visits to hospital emergency rooms, cost savings
for hospitals and public health programs, and better care for patients. For
more information, please visit www.myhealthdirect.com.