SOURCE: Psilos Group

November 18, 2009 08:30 ET

Psilos Group Portfolio Companies HealthEdge and Click4Care Receive Healthcare Innovation Awards

Recognition Validates Venture Firm's Approach to Healthcare IT Investment

NEW YORK, NY--(Marketwire - November 18, 2009) - Psilos Group Managers, LLC ("Psilos"), a healthcare venture capital firm that invests in companies that improve the functioning of the healthcare economy, is proud to announce that two of its current portfolio company investments, HealthEdge, Inc. and Click4Care, Inc., were winners of two of four Healthcare IT Innovation awards directed towards insurance payer-oriented technology vendors at the Healthcare Information Technology ("IT") Summit, held November 8-11, 2009 in La Quinta, CA.

HealthEdge and Click4Care are marquee examples of Psilos' venture capital investment strategy, which is focused on identifying and investing in companies that have a demonstrated ability to simultaneously enhance the quality of and reduce the cost of delivering care to patients while aligning the incentives of patients, payers and providers.

"These firms are a perfect illustration of our very successful healthcare IT investment strategy, which focuses on companies with products that are instrumental in defining the new healthcare economy," said Albert S. Waxman, Senior Managing Member of Psilos Group. "HealthEdge and Click4Care have products that solve major problems associated with the current healthcare system by enabling customers to reduce administrative costs, rapidly introduce innovative new products, create customized benefit programs and develop an enterprise approach to coordinated care. These awards are well-deserved given the companies' marked successes in the payer marketplace."

The Healthcare IT Summit is an annual event that brings together Gartner industry analysts, senior IT executives from healthcare insurer and provider organizations, and leading healthcare IT vendors for collaborative discussions on healthcare IT best practices and the latest tools and technology that will improve the performance of payer and provider organizations. The Healthcare IT Innovation Awards are given in nine categories, four oriented to Insurer-directed technologies and four to provider-oriented technologies, plus one for "best in show." HealthEdge was given the award for "Best New Technology (Insurer)" and Click4Care was given the award for the "Solution with the Greatest Market Potential (Insurer)." Hundreds of senior IT executives attending the Healthcare Summit completed confidential ballots to select technology providers for the Healthcare IT Innovation Awards after previewing and learning about new technologies and services in private boardroom appointments.

About Psilos Group

Psilos Group Managers is a venture capital firm focused on providing venture and growth capital to companies operating in the healthcare economy. The firm believes that successful healthcare innovation must reduce cost, improve quality and align incentives across payers, providers and patients. Founded in 1998, Psilos has nearly $600 million under management and invests across three core healthcare sectors: healthcare services, healthcare information technology and medical technology. Funds managed by Psilos have invested in companies such as ActiveHealth, AngioScore, Click4Care, Definity Health, Extend Health and OmniGuide, among many others, which have played, and continue to play, key roles in the transformation of the U.S. healthcare economy. Psilos has offices in New York, the San Francisco Bay Area and Santa Fe, New Mexico. For more information, visit www.psilos.com.

About HealthEdge

HealthEdge provides the only modern, enterprise-class software platform for healthcare payers. Using the patented HealthRules® software suite, health plans, health insurance companies and other payors can finally respond to new business opportunities and market changes in hours, not months or years, while drastically reducing both IT and operational costs. Leveraging an investment of over $125 million, HealthRules is the most scalable and cost-effective technology in the industry. HealthEdge is the only choice for payors to survive and thrive in the emerging healthcare economy. For more information, visit www.healthedge.com.

About Click4Care

Click4Care provides innovative care management software, integrating data from multiple systems into a solution that automates and optimizes patient care. Streamlined workflows and improved operational efficiencies drive unprecedented return-on-investment for care managers, while providing life-improving care to patients. Click4Care is driving enterprise-wide changes in the processes and business models of healthcare delivery. Some of the world's most progressive health insurance providers rely on Click4Care for a more member-centric approach to care management. For more information, visit http://www.click4care.com.

About The Healthcare IT Summit

The Healthcare IT Summit is produced by Everything Channel Events. Everything Channel is the one-stop shop for managing and accelerating technology sales. From branding and recruiting to marketing and sales, Everything Channel offers technology marketers the unmatched breadth and depth of global brands and market intelligence combined with unparalleled audience loyalty and credibility serving all technology sales channels through an extensive database. Everything Channel provides innovative field sales and marketing solutions to arm the sellers of technology with the resources they need to achieve measurable and significant results. For further information see www.everythingchannel.com, http://www.everythingchannelevents.com/hc09.

Contact Information

  • For further information about Psilos contact:

    Psilos Group
    Lisa Suennen
    Managing Member
    415-945-7010
    Email Contact

    For further information about HealthEdge and Click4Care contact:

    Amendola Communications
    480.664.8412
    Lindsey Karberg
    ext. 13
    Email Contact
    Jan Shulman
    ext. 12
    Email Contact

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