The AscendHealth Corporation is a newly established behavioral healthcare company whose President and CEO, Richard Kresch, M. D., has maintained a successful 30 year leadership and entrepreneurial record in both the not-for-profit and proprietary sectors.
Dr. Kresch most recently built and sold Heartland Health Developments, LLC, a chain of psychiatric hospitals and behavioral healthcare management operations.
In response to a changed reimbursement and business environment within the behavioral healthcare space, AscendHealth was formed with a clean slate of innovative approaches to attaining success in this arena. In order to assure the financial strength to develop and pursue new directions in behavioral healthcare, Dr. Kresch has partnered with three leading venture capital funds: CHL Medical Partners, Polaris Venture Partners and Three Arch Partners.”
ABOUT the VENTURE CAPITAL PARTNERS
CHL Medical Partners
CHL Medical Partners, of Stamford, Connecticut, is a venture capital firm founded in 1990 which manages funds with combined capital of more than $250 million. CHL invests principally in start-up and early-stage companies in the medical sector which are defined to include: biotechnology, pharmaceuticals, geonomics, proteomics, drug delivery, technology, diagnostic devices, medical & surgical instrumentation and healthcare services. CHL Medical Partners has provided capital support to over 60 companies in this sector, of which 86% have successfully completed public offerings.
Polaris Venture Partners
A national venture capital firm with over $3 billion under management, Polaris identifies and invests in seed, early stage and growth equity businesses in the technology, life science, digital media, enertech and consumer sectors.
Through a philosophy of lead investing and active, long-term partnering with early stage and growing revenue stage businesses, Polaris has helped a number of companies achieve outstanding success. Among them are: Accordant Health Services, Acusphere, Advanced Inhalation Research (AIR), Akamai Technologies, Allaire Corporation, American Superconductor, Alnylam Pharmaceuticals, Aspect Medical Systems, Avici Systems, Centra Software, Classifieds2000, Cubist Pharmaceuticals, deCODE genetics, Exchange.com, GlycoFi, Matrics, Momenta Pharmaceuticals, Paradigm Genetics, Powersoft, Solidworks, and TransForm Pharmaceuticals.
Three Arch Partners
Three Arch Partners, of Portola Valley, California, was formed in 1993 to provide young companies with access to relevant clinical and business resources, as well as capital. Three Arch has helped create, build and fund more than fifty important new healthcare companies. These companies have often become the clinical and market leaders in their respective fields and have generated strong returns. The fund focuses on opportunities in medical devices and healthcare services as well as biotechnology. The partnership currently manages over $1 billion in capital.
This and more information about AscendHealth can be found on the company website.
