SOURCE: HealthiestYou

HealthiestYou

November 12, 2015 07:30 ET

HealthiestYou Secures $30M Investment From Frontier Capital

Growth Equity Investment to Expand Telehealth Company's Innovative Consumer Healthcare Engagement Technology Platform

SCOTTSDALE, AZ--(Marketwired - Nov 12, 2015) - Arizona-based HealthiestYou (HY Holdings, Inc.), the nation's leader in telehealth user engagement, today announced a $30 million growth investment from Charlotte, North Carolina-based Frontier Capital. The company will use the investment for more aggressive sales and marketing efforts, technology enhancements and leadership to increase its share of the large and rapidly growing telehealth market.

Over 4,000 employer groups throughout the nation provide the HealthiestYou service to their employees. HealthiestYou's web-based and mobile technology application enables users to conveniently manage their healthcare needs 24/7, within the framework of their employer-provided benefits and with the most cost-effective options. Key features include telehealth -- around-the-clock virtual access to providers from any location; cost transparency tools; geographic provider searches with reviews; insurance connectivity; and wellness engagement.

"The healthcare industry is undergoing massive shifts that are changing the way care is delivered. Consumers are demanding better access to healthcare and more affordable options. Yet costs continue to rise uncontrollably and consumers are expected to shoulder more of the burden, as evidenced by skyrocketing deductibles and higher copays," explained HealthiestYou CEO Jim Prendergast.

"The capital injection from Frontier, combined with the firm's strategic support, gives us the additional resources we need to strategically expand HealthiestYou's solutions in the largely untapped and rapidly growing telehealth market. The time is right for innovation to rise to the challenge and help both employers and employees reduce costs while improving access to quality healthcare," continued Prendergast.

HealthiestYou's differentiator is the nearly 40% utilization rate of its telehealth offering. The company is committed to helping employees think differently about seeking healthcare and believes engaging employees is a top priority. Earlier this year, the company released a smartphone app to further improve engagement. The app helps consumers connect immediately to a telehealth doctor or easily find and interact with providers within their insurance plan coverage for in-person visits when necessary. Keeping consumers in network is a key factor to driving down healthcare costs.

"HealthiestYou sits at the sweet spot where healthcare technology and human resources management intersect," said Andrew Lindner, managing partner, Frontier Capital. "Individuals participating in employer-sponsored health plans are increasingly being asked to take greater responsibility for their healthcare decisions. Solutions like HealthiestYou enable these individuals to navigate the health system in a more cost efficient and convenient manner."

HealthiestYou client, Billings, Montana-based Valley Federal Credit Union, uses HealthiestYou to keep staff healthy and reduce sick time. "Our community is tight knit and when one employee is out sick, it puts extra workload on everyone. We proactively looked for a way to help employees address common illnesses and avoid costly visits to the same-day clinic or the ER," said Gidget Edwards, Human Resources Manager. "With HealthiestYou, we are able to give our employees time and money-saving tools to help our team get well and stay healthy. They can call and get diagnosed any time -- day, night, weekends, holidays and get prescriptions if needed. Employees tell us all the time how much they love 24/7 healthcare right over the phone."

About Frontier Capital

Frontier Capital is a Charlotte-based growth equity firm focused exclusively on software and technology-enabled business services companies. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. The firm makes minority and majority equity investments in high growth companies and has built an excellent track record of delivering returns to both investors and management partners. For more information, please visit frontiercapital.com.

About HealthiestYou

Headquartered in Scottsdale, Arizona, HealthiestYou is an industry leader in eHealth user engagement and was recently ranked #846 on the 2015 Inc. 5000 list of the nation's fastest-growing private companies. By directing medical claims out of traditional insurance plans, HealthiestYou serves as an accessible and affordable complement to primary care, saving time, money, worry, and hassle for companies and their employees. For more information, visit http://www.healthiestyou.com.

Contact Information

  • For More Information Contact:

    Julie Igo
    BrandTree Communications
    (602) 549-0008
    Email Contact

    Gina Kilker
    BrandTree Communications
    (480) 209-8420
    Email Contact