BATON ROUGE, La., Aug. 18 /PRNewswire/ -- The newly formed Louisiana Technology Fund will make its first venture capital investment in Patient Care, a national healthcare advocacy company based in New Orleans. Patient Care helps consumers navigate through the healthcare and insurance systems and incorporates specific technology to assist members with their health insurance issues.
The Louisiana Technology Fund will contribute $300,000 towards $1 million worth of financing that Patient Care is receiving from venture capital sources in and outside the state of Louisiana.
The Louisiana Technology Fund was established by the state's four research parks and Louisiana's Certified Capital Companies (CAPCOs) and is designed exclusively for investing in seed and early-stage, Louisiana technology companies. The CAPCOs that participate include Whitecap Louisiana Growth Fund, Advantage Capital Partners and Enhanced Louisiana Capital.
"The Technology Fund is pleased to be participating in a funding round of approximately $1 million for Patient Care. Patient Care has an experienced management team led by Jane Cooper, highly innovative and in demand technology based services, and a national market focus," said Terry Jones, a Technology Fund board member who served as the lead for the investment in Patient Care. As a result of the investment, Mr. Jones has joined the board of Patient Care.
"Our company is one of the leaders nationally in the advocacy industry," said Jane Cooper, CEO of Patient Care. "This investment in Patient Care by the Louisiana Technology Fund validates our mission to bring the highest level of service to our members by relying on unique technology and experienced advocates to investigate, research and resolve health insurance issues for our 80,000 members across the country."
In 2003, the federal Health Insurance Portability and Accountability Act (HIPAA) significantly increased privacy protection for patients and imposed rigorous standards on health providers and employers. "Safeguarding this confidential information is a top priority for Patient Care and we rely heavily on our technology to do so," Cooper said.
Patient Care has been providing advocacy services to employers, employees and consumers since January 2002. The company is privately held and headquartered in New Orleans.
Patient Care's client base consists of employer groups throughout the United States as well as individual members across the country. Patient Care clients include Midwest Airlines, Coors Brewing Company and Briggs & Stratton. They also work closely with a number of national consulting firms to position advocacy as a strategic solution for their clients. Patient Care has a partnership to provide advocacy services to the patients of the Mayo Clinic in Jacksonville, FL. Visit http://www.patientcare4u.com for more information.
Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Jane Cooper http://profnet.prnewswire.com/ud_public.jsp?userid=108299
Patient CareCONTACT: Mary Mouton, +1-504-269-4895, for Patient Care; or Terry Jones ofLouisiana Technology Fund, +1-225-927-3331
Web site: http://www.patientcare4u.com/