Consumer Health Advisers raises $1.15M to expand its sales and marketing initiatives

Sep 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."