Viverae Secures $6.5 Million in Expansion Funding From Frontier Capital
DALLAS (February 5, 2009) – Viverae, a national leader in corporate wellness, today announced that the company has received $6.5 million in expansion funding from Frontier Capital. Frontier is a private equity firm that provides growth equity to technology enabled business services companies.
Viverae delivers customized health management solutions that improve the health of its clients’ employees and reduce their medical costs. The company’s comprehensive programs utilize risk-based outreach from trained health professionals, proprietary technology, and advanced health challenges and programs that result in proven return on investment. Frontier’s investment will support expansion of sales and marketing resources and further enhancement of the Viverae’s solutions.
“Over the past four years, we have consistently experienced exceptional growth. This growth can be attributed to the value of our solution as we have become a trusted partner of companies seeking to reduce health care costs and improve the health of their employees,” said Michael Nadeau, Chief Executive Officer of Viverae. “With this funding from Frontier Capital, we will be able to accelerate the development of our innovative technology, build out our operations, and improve upon the industry leading outcomes that have come to define the standards for health management solutions.”
“We have been very impressed with the progress and evolution of Viverae as it has become a market leader,” said Andrew Lindner, Managing Partner of Frontier Capital. “As a result of its innovative, employer-centric programs and intuitive software platform, Viverae has become an invaluable partner to companies seeking to grow healthier organizations and reduce out-of-control health care costs. We are pleased to partner with Viverae in accelerating the company’s growth trajectory.”
Viverae is a health management company that offers cost-effective solutions delivered by experienced health professionals and supported with advanced, intuitive technology. We supply the power for a unique, customized solution that helps people live healthy lives today and prevent health problems tomorrow. Our solutions are designed to involve all employees in order to create a workplace where both physical change and improvement to an organization’s bottom line can be seen. But more than anything, we empower employees to benefit from the knowledge gained to live healthier lives and reduce their medical costs. For more information, visit us online at www.viverae.com.
About Frontier Capital
Frontier Capital is a private equity firm providing growth equity to technology enabled business services companies. These companies have a proven solution in the marketplace and need capital to accelerate growth, make acquisitions, or generate shareholder liquidity. The firm is based in Charlotte, N.C. and provides $5-$10 million per investment in companies throughout the Southeast, South, and Mid-Atlantic regions. For more information on Frontier Capital, visit www.frontiercapital.com.