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Health Management Company WellCentive Raises $3.23M - cbl
Posted June 22, 2011
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Frank Murphy
By Richard Rabicoff
ATLANTA -- Health information management company WellCentive, Inc. completed a $3.23 million equity financing.
Named in the related SEC filing were President and CEO , Secretary J. Mason Beard, and Chief Medical Information Officer Paul D. Taylor; and directors , Atlanta-based Noro-Moseley Partners; and Robert Crutchfield, Richmond, Va. office of Harbert Management Corp.
Murphy joined the company this month as President and CEO. He previously was CEO at Perimeter Health Advisors, LLC, HealthPort Technologies, and Smart Document Solutions/SDS Health. He also served as President of Physician Services at Per-Se Technologies and for 11 years he was CEO at HCA. Murphy serves on the board of MedData.
WellCentive offers preventive care and chronic disease management solutions for physicians, physician organizations, health information exchanges, employer groups, health plans, and other healthcare organizations. The company was founded in 2005 and is based in Atlanta.
SEC filing: http://tinyurl.com/6dbgxkv
Bios
Allen Moseley
Allen Moseley joined NMP in 1998 and leads the firm's healthcare practice focused primarily in healthcare services, healthcare information technology and medical devices. He currently represents NMP on the boards of Diabetes Care Group, Navitas Lease Finance, RemitDATA, Renal CarePartners, Senior Whole Health, Valor Healthcare and Wellcentive. Allen also oversees the firm's investment in Direct Insurance and Lanx. Allen was previously a director or observer for several prior NMP investments including Apex Analytix (sold to PNC Equity), Bloodhound Technologies (sold to Verisk Analytics), U.S. Radiosurgery (sold to Alliance Imaging) and Witness Systems (IPO, sold to Verint Systems).
Prior to joining NMP in 1998, Allen was in the corporate finance group at The Robinson-Humphrey Company, an investment banking firm previously owned by Citigroup and most recently acquired by SunTrust. Allen worked extensively in the healthcare and business services industries, advising on a number of initial public offerings, M&A transactions and private placements. He was also involved in R-H Capital Partners, the private equity investment arm of the firm. Previously, Allen held investment banking positions with Bowles Hollowell Conner & Company and Merrill Lynch & Co.
Allen was recently Chairman of Venture Atlanta and Chairman of the Technology Association of Georgia, the State's largest entrepreneur-focused organization. He has also served on the board of North Carolina's Council for Entrepreneurial Development, one of the largest entrepreneur organizations in the country. Allen is also a member of the Nashville Healthcare Council. Allen received a BA from the University of North Carolina at Chapel Hill, where he was a member of Phi Beta Kappa, and an MBA from Harvard Business School.
Robert L. Crutchfield
Bob Crutchfield is a Venture Partner in the General Partner. Mr. Crutchfield joined HMC in September 2008 and serves as a Board Member of Optimal and as a board observer for Aldagen, Innovative Biosensors, MaxCyte and ControlScan. In addition to his responsibilities at HMC, he serves as the Chairman of the Commercialization Sub-Committee for the Alabama Innovation Council Study Commission, serves on the Steering Committee of the Alabama Obesity Institute at the University of Alabama in Birmingham, is a Venture Fellow at the University of Alabama in Tuscaloosa, is a Visiting Executive at Auburn University and is a member of the Board of Directors for the Southeast Medical Device Association, the Birmingham Venture Club, the Alabama Launch Pad, and the Atlanta Venture Forum. Mr. Crutchfield also serves as a member of the Investment Advisory Board for the Florida Institute for the Commercialization of Public Research. Prior to joining HVP, Mr. Crutchfield served as Senior Vice President/General Manager of the Pharmacy Services Division at U.S. Oncology, a privately held, vertically integrated cancer care provider network with cancer clinics in more than 440 sites of service and a physician network consisting of over 1,000 medical oncologists and radiation oncologists. His division was responsible for approximately $2 billion of annual revenue and under his leadership the division's EBITDA grew to over $80 million. Mr. Crutchfield was also a Senior Executive at CardinalHealth, where he served as Vice President of New Ventures. While with Cardinal Health, he built and launched a new surgical products business unit through licensing of new technologies, acquisitions and creating a new North American sales channel. In 1995, Mr. Crutchfield founded Surgical Innovations and Services, Inc. (SIS), a surgical laser management company. Under his leadership, SIS became a leader in the emerging outsource management sector, with over 300 hospitals and surgery centers under contract with SIS for management oversight and delivery of their surgical laser programs. In 2000, SIS merged with Surgical Laser Technologies, Inc. (SLTI) a publicly traded surgical laser-manufacturing firm. Mr. Crutchfield continued as President of SIS and served as VP of Sales, Marketing and Business Development for SLTI, until he exited the company following its acquisition by publicly-traded Photomedex, Inc. Mr. Crutchfield has launched five successful new business ventures during his private and corporate career and has lead four M&A transactions. Mr. Crutchfield is a graduate of the University of Georgia and holds Bachelor of Science degrees in Political Science and Chemistry.
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