BreatheAmerica Lands $22 Million Series B Financing
NASHVILLE, TN--(Marketwire - September 06, 2011) - BreatheAmerica, which develops and manages centers for patients suffering from allergies, sinusitis and asthma as well as diseases related to the immune system, announced today it has closed a $22 million Series B equity investment. The new financing was led by Essex Woodlands, and included participation from existing investors. Essex Woodlands (www.ewhv.com) is one of the country's leading healthcare focused venture capital and growth equity firms. This financing will support the development of new centers around the country.
Chronic airway diseases affect approximately 25% of the United States population and are increasing worldwide. The BreatheAmerica centers bring together highly trained medical specialists, staffing, protocols, diagnostics, treatment services, and other resources needed to care for these interrelated, complex diseases. The centers utilize a team of providers, led by an allergist/immunologist working in conjunction with mid-level practitioners and coordinating among other on site specialties as needed. In addition, the centers incorporate an Ambulatory Infusion Program for patients with chronic immune system related diseases which require complex and ongoing drug therapies. BreatheAmerica currently operates centers in Albuquerque, New Mexico and Tulsa, Oklahoma and projects to open 4-6 new centers per year.
According to Joseph Hutts, President and CEO of BreatheAmerica, "This financing will provide the necessary capital to rapidly expand our business. Our operating and clinical model is designed to drive differentiated outcomes and impact the overall cost of healthcare for patients with chronic disease, both of which will be critical in the evolving health system. We plan to implement the BreatheAmerica program across the country in order to transform allergy practices to outpatient based airway disease centers of excellence. We are extremely pleased to partner with Essex Woodlands, one of the country's leading healthcare investors in this financing, and look forward to benefitting from their expertise, deep understanding and experience as future members of our Board."
"Patients have demonstrated the demand for BreatheAmerica's integrated service model that provides a one-stop, convenient setting for most chronic airway disease," says Tamara Elias, M.D. of Essex Woodlands. "These centers can help patients and payers reduce their costs for these chronic conditions and dramatically improve the patients' experience."
About BreatheAmerica
BreatheAmerica develops and operates diagnostic and treatment centers for chronic airway and immune system related diseases. Through its allergy, sinus and asthma programs ("ASAP") and immune therapy programs, BreatheAmerica centers concentrate the resources needed to diagnose and care for these interrelated and complex diseases that affect 25% of the country's population. BreatheAmerica currently operates ASAP centers in Albuquerque, NM and Tulsa, Oklahoma and ambulatory infusion centers in Nashville, Memphis, and Knoxville, TN.
About Essex Woodlands Health Ventures
With $2.5 billion under management, Essex Woodlands is one of the largest and oldest healthcare focused venture capital and growth equity firms pursuing investments in pharmaceuticals, biotechnology, medical devices, healthcare services, and health information technology. Since its founding in 1985, Essex Woodlands has maintained its singular commitment to the healthcare industry and has been involved in the founding, investing, and/or management of over 100 healthcare companies ranging across all sectors, stages and geography. The team is comprised of 25 senior investment professionals with offices in Palo Alto, Houston, New York and London. For more information, please visit www.ewhv.com.