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With Polaris Venture on Board, Phytel Closes $2M Share Offering - cbl
Posted September 28, 2011
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David Barrett
By Bill Murphy
WALTHAM, Mass. -- Phytel Inc. has closed a $2 million share offering, raising the amount from six investors.
Principals named in the filing by the Dallas-based company are:
· CEO Steve Schelhammer;
· CFO Jeffrey Havlock;
· Senior Vice President for Strategic Corporate Development Matt Waldron;
· Director Steve Houk of Phytel Investment LLC;
· Director Jon Halbert of Phytel Investment LLC; and
· Director David Barrett of Waltham, Mass.-based Polaris Venture Partners;
Founded in 1996, the Dallas-based company offers disease management and preventive-care protocols that identify and notify noncompliant patients of needed health care. Its state-of-the-art registry has 20 million patients nationwide and uses evidence-based chronic and preventive care protocols to identify and notify patients due for care, while tracking compliance and measuring quality and financial results.
Reg D filing: http://tinyurl.com/6jgawnt
Also at citybizlist, see:
Phytel Closes on $14.2M Equity Offering - CBL
Bios from Phytel's Web site:
Steve Schelhammer
CEO
Steve Schelhammer is Chief Executive Officer at Phytel. The 25-year healthcare veteran is responsible for the company's strategic direction and market positioning. His expertise in disease management is evident in his previous leadership positions. Before joining Phytel, Mr. Schelhammer founded Accordant Health Services, one of the country's first disease management companies. The company grew to providing services for more than 500,000 people affected by complex chronic diseases. In 2000, he received the Ernst & Young Regional Entrepreneur of the Year Award for his work at Accordant. He also played a pivotal role in founding the Disease Management Association of America, where he was a charter member and served on its board for the first 3 years.
Before founding Accordant, Mr. Schelhammer served as senior vice president at Quantum Health Resources, providing specialized home care services to people affected by rare chronic diseases. He also held upper management positions with other alternate site healthcare organizations including Care Partners, Tokos Medical Corporation and Caremark.
Jeffrey Havlock
Chief Financial Officer
As Chief Financial Officer of Phytel, Jeffrey Havlock is responsible for finance, accounting, cash management and legal activities of the organization. Jeffrey has over 25 years experience with expertise in fund raising, debt restructuring, cost containment, mergers and acquisitions. Prior to Phytel, Mr. Havlock served as CFO of Global Supply Chain Solutions, a materials management and solutions provider. Jeffrey was also Chief Financial Officer of Ceterus Networks (sold to Overture Networks), M&S Systems (sold to Linear Corporation) and Navini Networks (sold to Cisco Systems). Prior to Navini, Jeffrey held various positions in SEC reporting, consolidations, business analysis, cost accounting and external auditing with companies such as Northrop Grumman, Vought Aircraft, LTV Corporation and Arthur Andersen.
Jeffrey is a CPA in the State of Texas, holds a Bachelor of Science degree in Accounting from the University of Akron and an MBA from the University of Chicago.
Matt Waldron
Senior Vice President, Strategic Corporate Development
As Senior Vice President, Strategic Corporate Development of Phytel, Matt Waldron is responsible for leading Phytel's new technologies to market. Before joining Phytel, he directed the physician connectivity strategy at AdvancePCS and helped deploy industry-leading e-prescribing solutions. Waldron has also founded and led two technology companies: Primera Vision and Power Solutions. Primera Vision developed industry-leading digital sampling software before it was acquired by Autodesk, the world's fourth largest PC software company. Power Solutions licensed, developed and commercialized high-impedance fault-detection technology in conjunction with General Electric. Waldron has a BA degree from Oklahoma Christian and an MBA from Texas A&M University.
Bio from Polaris Ventures site:
David Barrett
General Partner
Dave is a general partner who brought over 20 years of experience as an operating executive & entrepreneur to Polaris in 2000. He focuses on seed, early & expansion stage investment opportunities in technology. Dave is exceptionally experienced in on-demand and internet software business models, with particular background in SaaS, Cloud, Financial and Healthcare technologies.
Experience:
A leader of publicly-held software and services leaders during their periods of highest growth, Dave consistently built teams which achieved dominant market share and extraordinary value.
Prior to joining Polaris, he served as chief operating officer of Calico Commerce, a leading sell-side e-business infrastructure provider. During his leadership, the company evolved from venture-backed startup to one of the top-performing IPOs of 1999 with market value in excess of $3.5B. As senior vice president of worldwide operations for Pure Atria, he helped lead that company's $1B merger with Rational Software. As an executive with Lotus Development Corporation/IBM over 11 years, he played a key role in that company's rapid growth and eventual $3.5B acquisition by IBM, the then-largest transaction in software industry history. As vice president & general manager of field sales and services, his organization served as an industry model and helped to establish Lotus Notes as a market-defining standard. As general manager of worldwide federal systems, his was the fastest-growing division in the company.
Boards:
Dave represents Polaris on the boards of Biff Labs, Confluence, Egnyte,CatchFree, Imprivata, MarkMonitor, Phytel, Recurly and VKernel.
He previously served on the boards of LogMeIn (NASDAQ: LOGM), Archivas (acquired by Hitachi Data Systems; NYSE: HIT), 170 Systems (acquired by Kofax; LSE:KFX.L), and Centra Software (NASDAQ: CTRA).
In addition to his Polaris portfolio company boards, he also serves on the Microsoft Venture Capital Advisory Board, the Software & Information Industry Association (SIIA) Private Equity Board, and the Dana-Farber Cancer Institute Board of Trustees.
Dave is both an Always-On Venture Capital 100 and Venture Capital 50 recipient, recognizing returns performance over the last five years. He is also a Massachusetts Technology Leadership Council Investor of the Year finalist, helps lead the Dogpatch Labs community, is an IBM SmartCamp and TechStars mentor and an advisor to NYC Investment Fund's FinTech Innovation Lab.
Education:
Dave holds a B.S. from The University of Rhode Island
Dave's Blog:
www.dbodbo.com
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