SOURCE: Consumer Health Advisers, Inc.

September 08, 2009 05:00 ET

Consumer Health Advisers Completes Series A Financing and Opens Chicago Office

BETHESDA, MD--(Marketwire - September 8, 2009) - Consumer Health Advisers, Inc. (CHA), a pioneering provider of a personal 'electronic medical home' for employees and dependents of large companies, is pleased to announce it has completed a Series A venture capital round of $1.15 million and opened a new office in Chicago, Illinois.

Investors in the Series A round include HMA Capital Partners, DeWaay Investment Partners and three individual accredited investors. The $1.15 million raised will be used to continue building out the Consumer Health Management Center platform, expand current sales and marketing initiatives, and provide funding for infrastructure development.

Jay Rosen, President of HMA Capital Partners, noted, "We have confidence that CHA will make a major contribution to consumerism in health and healthcare. Public plan sponsors as well as large employers will increasingly adopt technology of this type in the near future." Adam Claypool, Managing Director of DeWaay Investment Partners, stated, "For consumers, it is increasingly important to be able to manage both their healthcare and related costs. CHA facilitates this engagement by empowering consumers with information and advice. We believe that CHA is positioned to quickly become a leader in this emerging market."

CHA's new Chicago office is located at the University Technology Park at IIT (Illinois Institute of Technology). The Technology Park is an excellent fit for CHA, offering an active and engaged technology focused community and providing access to many resources including research, applied engineering and business development. The Chicago office will support CHA's development program as well as sales and marketing initiatives in the Chicago area and the broader Midwest region.

"We are excited by the opportunities provided by our Series A financing. With the completion of our financing round, we will continue to develop and implement our vision of accelerating health information flow to the consumer," said Nelson Rosenbaum, CEO of Consumer Health Advisers. "Opening our new office in Chicago is an important part of CHA's expansion plan."

Consumer Health Advisers' new office is located at 10 W 35th Street, Chicago, IL 60616, and can be reached at 800.259.1320.

About Consumer Health Advisers

Consumer Health Advisers (CHA) is a pioneering provider of on-demand consumer health information -- providing a personalized 'electronic medical home' for employees and dependents of large employers. The Consumer Health Management Center platform automatically consolidates all of the consumer's health history -- claims, clinical and financial -- into a single portal. An analytic engine then applies applicable standards and benchmarks to the accumulated data and generates actionable alerts, recommendations, reports and decision support tools that guide the consumer to greater engagement and responsibility. For more information about Consumer Health Advisers, visit us at

About DeWaay Investment Partners

DeWaay Investment Partners is a Midwest-based venture fund, investing in early stage companies. The Fund targets investments in capital efficient, highly differentiated companies -- primarily in the technology industry. The Fund is affiliated with DeWaay Investment Banking, a leading provider of M&A, corporate finance and commercial real estate finance services to lower middle market companies. DeWaay Investment Banking is a division of DeWaay Financial Network, LLC, member FINRA/MSRB/SIPC. For more information, please call us at (515) 273-1300.

About HMA Capital Partners

HMA Capital Partners is a Michigan-based capital investment fund that is affiliated with Health Management Associates (HMA). HMA is a research and consulting firm that is widely recognized as having special expertise in health care and publicly financed health programs. The Fund was created in the belief that the expertise and experience that has enabled HMA to become successful creates an advantage from an investor's point of view. The Fund seeks opportunities that revolve around developments and trends in health care, where access to decision makers is critical to the success of the company, where devising payment arrangements for new products and services is a central issue, or where the success of the company depends critically on resolving complex regulatory issues. For more information, please call us at (517) 482-9236.

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