Alliances forged with health care and wireless technology leaders enabling personal health management for millions of
individuals with chronic conditions.
LifeChart.com, a pioneering e-health company dedicated to improving the monitoring and management of millions of
individuals' chronic medical conditions, announced today it closed a new equity financing of $25 million including debt
conversions from Nokia and Johnson & Johnson Development Corporation, as well as from the Finnish National Fund For Research and Development (Sitra), and
private investors.
The company will use the funds to launch innovative new e-health services for consumers and health professionals.
LifeChart.com has been formed by combining the technology, personnel, marketing and assets of Nokia's health-related
wireless applications business (Wellmate) with Silicon Valley health monitoring company ENACT Health Management Systems.
LifeChart.com will combine Nokia's Internet and wireless health management system for diabetes and the personal health
monitoring and management system for asthma that was the origin of ENACT. The company is now positioned as a powerful
contender in the rapidly emerging online health care sector. Revenue will be generated from individual subscriptions to
the LifeChart Network, device sales, Web advertising and sponsorships.
"The Internet health care revolution is just underway," said Matthew Sanders, founding CEO of ENACT and now chairman of
LifeChart.com. "LifeChart.com intends to be a charter member of the new e-health community, with technology to shape a
healthier future for millions."
LifeChart.com's service allows individuals with chronic conditions to transmit personal health data via electronic
monitoring devices (such as the AirWatch Asthma Monitor), the Internet and cellular phones. The company's LifeChart
Network then provides individuals with a personal, secure record containing trend reports of their own health
information and an interactive, low cost, location-independent means to communicate with their health care professionals
via fax, mail, telephone, wireless technology and the Internet. Data is accessible 24 hours a day, seven days a week,
empowering people to better manage their conditions and take control of their own health.
"LifeChart.com will empower people to better manage their own health conditions," said Hans Ehrnrooth, new CEO for
LifeChart.com. "Our personal health management tools and technology are the next step in the convergence of health care
and the Internet and the logical complement to the new Internet health information portals."
LifeChart.com encompasses the first, advanced, easy-to-use tools -- for both individuals and their care teams -- to
effectively and interactively monitor chronic conditions. The most pervasive and costly conditions, such as diabetes,
asthma and hypertension, affect more than 90 million people (one-third of the U.S population) in the U.S. alone and
account for approximately $425 billion in annual treatment costs. LifeChart.com's technology has been tested and
validated in clinical and pilot programs over the past several years in the U.S. and Europe, and studies have shown
significant reduction in health care costs.
Wireless technology has long been used in Europe, especially Finland where Nokia is based, to monitor and facilitate
everything from bank balances and payments to vending machine purchases. In the U.S., the rise of health care costs,
proliferation of managed care and rising accessibility to home computers and wireless devices is driving a growing trend
of consumers using technology to become better informed and take an active role in their health. The health care
community, too, is increasingly going online.
About LifeChart.com
LifeChart.com, formerly ENACT Health Management Systems, will operate offices in Mountain View, Calif., and Helsinki,
Finland. ENACT was founded in 1992 to offer monitoring and reporting services to large patient populations with
long-term, high-cost, chronic illnesses. To date, the company has focused primarily on the asthma market with its
AirWatch Asthma Monitor and LifeChart Network.