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Venture Capital News: Health Outcomes Sciences Completes First Close of Series A

OVERLAND PARK, KS, Leading health care IT company based in Overland Park, Kan., today announced that it has completed the first close of its Series A Preferred financing round.
Health Outcomes Sciences Inc. (HOS), a leading health care IT company based in Overland Park, Kan., today announced that it has completed the first close of its Series A Preferred financing round. The company has raised $5 million in the first closing and expects to raise up to an additional $2 million of capital, bringing the round to $7 million.

The round, which is led by the Kansas Bioscience Authority (KBA) and Grayhawk Venture Fund II (GVFII), also includes a broad representation of existing angel investors. The funds will be used to grow sales of the company's ePRISM clinical decision support software, which provides evidence-based individualized risk models to physicians where they need them most, at the point of care.

'We are thrilled to have KBA and Grayhawk join us in our pursuit to impact the cost-quality paradox in health care,' said Matt Wilson, HOS president and CEO. 'HOS is among the first to capitalize on a huge market for technologies capable of personalizing patient analytics and applying them in direct clinical care. This round of funding will help us build on our early success in cardiology and extend our reach to other specialties.'

Keith Harrington, KBA managing director, said, 'KBA is delighted to partner with the Health Outcomes Sciences team to accelerate the company's sales growth and improve patient outcomes. This is a great example of a Kansas-based, world-class life sciences company doing important work throughout the U.S.'

Brian Burns, GVFII partner, added, 'HOS is at the leading edge of using big data for supporting medical decisions. We are excited to be a part of a company that can improve both health outcomes and cost containment in hospitals.'

About Health Outcomes Sciences
Dedicated to providing innovative IT solutions that improve the quality of health care delivery, HOS focuses on translating the latest advances in clinical and outcomes research into evidence-based decision support solutions and services for physicians and their patients, health care organizations and other medical software developers. HOS solutions empower clinicians to see complex relationships between clinical variables and patient outcomes. Better understanding of these relationships enables patient care to be personalized in ways that previously could only be imagined.
Contact: Matt Wilson, 816-979-3113

About Kansas Bioscience Authority
The Kansas Bioscience Authority was created by the Kansas Economic Growth Act of 2004 to accelerate growth in the bioscience sector. KBA investments help create high-paying jobs, fuel capital expenditures, and encourage private capital investments in Kansas bioscience companies.
Contact: Keith Harrington, 913-397-8300.

About Grayhawk Capital
Headquartered in Phoenix, Arizona, GVFII is managed by Grayhawk Capital, an equity investment firm. GVFII was formed to invest in early and growth stage companies based primarily in the southwestern United States and continue the successful track record of its predecessor fund, Grayhawk Venture Fund I, LP ('GVFI'). GVFII primarily invests in software and information technology companies.
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