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HLM Venture Partners Leads Series B Financing of CaseNET, Inc.
Date:11/12/2007

BOSTON, Nov. 12 /PRNewswire/ -- HLM Venture Partners announced today that it has led a $7.5 million Series B preferred stock financing of CaseNET, Inc. CaseNET, based in Waltham, MA, is an early-stage health care information company that offers health care enterprises and government agencies a software solution for medical and care management.

As a new investor, HLM committed $4 million to the round and was joined by existing investors Sigma Partners, Aurora Funds and Howard Cox. Peter Grua, a partner at HLM, will join the CaseNET board of directors.

CaseNET's software platform is used by health plans, disease management organizations, governmental agencies and large provider groups. It provides care managers with an opportunity to automate their workflow, improve productivity, and secure better outcomes for patients and clients.

According to HLM's Peter Grua, "The market for medical management software solutions is large and well established and is experiencing a surge in interest. Health plans and government agencies are looking to new patient- centric technology solutions that enable them to more effectively predict, monitor and manage the utilization of their members and eligible recipients. CaseNET is well positioned to gain a meaningful share of the market because it offers an excellent solution and is led by an experienced management team with a proven track record of building successful businesses."

Brian O'Neill, the CEO of CaseNET, has built four successful software companies over the past 20 years, all of which created new markets or dramatically changed the rules in existing ones while building strong relationships with customers.

"We are excited to partner with HLM and to include Peter Grua on our board of directors," said CaseNET's Mr. O'Neill. "His rich experience in health care service and information companies and working with payer organizations is extremely valuable to us as we enter our next stage of growth."<
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SOURCE CaseNET, Inc.
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