LifeNexus, Creator of iChip(R), Closes Series A Funding
SAN FRANCISCO, Calif., July 22, 2014-- LifeNexus, creator of the patented iChip® technology, a mobile platform that delivers personalized health information and analytics to consumers and their doctors, announced today it has closed a Series A funding round led by private equity firm Camden Partners and two strategic investors: Cambia Health Solutions and Mosaic Health Solutions, Inc.
"Camden Partners and our co-investors target transformative companies for investment," said Christopher W. Kersey, Managing Partner. "LifeNexus' iChip solution closes a significant information gap in healthcare, delivering value for all key stakeholders -- health plans, providers, and consumers -- and transforming the healthcare experience."
iChip delivers consumer-controlled health information that is automatically updated and presented at the point of care. By putting the information in the hands of the consumer, iChip ensures that essential health information gets past the front desk and into the treatment room where it is most valuable. With iChip, health plans are better equipped to address many of today's most pressing issues including improving quality metrics like Star ratings and HEDIS measures, closing gaps in care, improving risk score coding, improving member engagement and satisfaction rates, all which contribute to better diagnoses and treatments leading to better health outcomes.
"We are delighted with the market response to iChip, and are now scaling the company for growth," said David R. Strand, Chief Executive Officer of LifeNexus. "We are pleased to partner with this investor group and to have the endorsement and support of these leading healthcare organizations."
About Camden Partners
Camden Partners, founded in 1995, operates private equity funds that provide growth capital to emerging companies in the Technology-Enabled Business Services, Healthcare and Education sectors. For more information, please go to www.camdenpartners.com.
About Cambia Health Solutions
Cambia Health Solutions, headquartered in Portland, Oregon, is a health solutions company dedicated to transforming health care nationwide by creating a person-focused and economically sustainable system. Cambia's growing family of companies includes software and mobile applications, health care marketplaces, non-traditional health care delivery models, health insurance, life insurance, pharmacy benefit management, wellness and overall consumer engagement. Through bold thinking and innovative technology, Cambia is delivering solutions that make quality health care more available, affordable and personally relevant. To learn more, visit cambiahealth.com or twitter.com/cambia.
About Mosaic Health Solutions, Inc.
Mosaic Health Solutions, headquartered in Durham, North Carolina, is committed to developing innovative businesses that improve the health and well-being of its customers and communities. Mosaic Health Solutions investments expand product and service offerings to provide additional value to customers, drive innovation across the healthcare system, and improve health outcomes. Together with its partners, Mosaic Health Solutions is making healthcare better by expanding access and new healthcare innovation to non-emergency care, pioneering new collaborative healthcare approaches and improving pharmacy benefit management.
LifeNexus is a San Francisco-based healthcare technology company and the creator of iChip®, a patented technology. iChip is a mobile platform that uniquely delivers personalized health information and analytics to consumers and providers at the point and time of care to help improve healthcare experiences, health outcomes and financial results. To learn more, visit iChip.com.
iChip® is a registered trademark of LifeNexus.
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