As a home-grown Indiana company delivering real business value in the healthcare information technology space, PolicyStat is an important company in the HALO portfolio. There is general agreement nationally that true healthcare reform has to include reducing healthcare costs and improving the quality of care, and PolicyStat delivers on both.
Indianapolis, IN (PRWEB) March 11, 2010
PolicyStat, LLC, a leading provider of policy lifecycle management solutions for healthcare organizations, is pleased to announce the successful close of its initial outside fundraising round. The round included investment from 31 individual angel investors as well as a strategic investment from HALO Capital Group.
"We are grateful for the opportunity afforded us by this fundraising success," said Steven Ehrlich, President of PolicyStat. "We are excited about both the operating capital we raised and the people who participated in the round because each will play a role in our future success. At our stage it is critical to expand the team with people who can truly help the company achieve its goals both with their financial support and through their networks and experience, and this is exactly what happened."
PolicyStat investors in this round included Indianapolis-area physicians and other healthcare industry participants, members of the PolicyStat management team, the successful high tech entrepreneurs who make up HALO Capital Group, as well as other angel investors who have a strong belief in the company's mission.
HALO (Hoosier Angels Looking for Opportunities) is a group of successful Indiana entrepreneurs seeking to invest in up-and-coming companies, offering capital (typically within the range of $250,000 to $2 million) and management expertise to high-potential start-ups. HALO has invested $12.5 Million in Indiana companies in the last 20 months.
"I am excited to be a part of the PolicyStat team," said Christopher Clapp, a new member of the PolicyStat Board of Managers. "As a home-grown Indiana company delivering real business value in the healthcare information technology space, PolicyStat is an important company in the HALO portfolio. There is general agreement nationally that true healthcare reform has to include reducing healthcare costs and improving the quality of care, and PolicyStat delivers on both."
About PolicyStat, LLC:
PolicyStat LLC is an Indiana-based corporation providing an industry-leading policy lifecycle management solution for healthcare organizations. The PolicyStat solution increases productivity while simultaneously enhancing quality and compliance management. PolicyStat's Software-as-a-Service (SaaS) offering enables short customer deployment timelines by both minimizing IT staff involvement and providing vital implementation services. For more information please visit our website at: policystat.com.