Daily News: October 13, 2014

Ares Capital Provides MyHealthDirect Facility

MyHealthDirect announced its next round of growth funding to continue rapid expansion of its patient access solutions. Current partners, Chrysalis Ventures and Arboretum Ventures provided equity funding, and new partner, Ares Capital, provided a facility to support growth.

The $8 million in growth capital will be used to scale MyHealthDirect’s solutions for new hospital and practice partners as the company continues to expand its market share.

“This additional round of funding will enable us to continue expanding our business to meet growing market demand. MyHealthDirect solutions are delivering
repeatable, scalable value by attracting new patients, retaining existing patients, and optimizing practices and health systems,” said Tom Cox, CEO, MyHealthDirect. “We are focused on helping providers transform the patient experience outside the moment of care.”

“Funding innovation that improves patient access, outcomes and experience is a top priority for Chrysalis Ventures,” said David Jones, Jr., chairman, Chrysalis Ventures. “MyHealthDirect’s growth is further validation not only of consumer demand for an improved patient experience, but perhaps most importantly, providers’ willingness to meet their needs. This demonstrates an exciting trajectory for our national healthcare system and each of us as individual patients.”

As a leading provider of patient access solutions, MyHealthDirect’s footprint has doubled in less than one year. The company books 1.7 million annual appointments and delivers access to 30+ million patients in partnership with some of the nation’s largest health systems and payors.