Richmond-based private equity fund Blue Heron Capital has added another health care services company to its investment portfolio.
The investment firm said Monday that it has participated in a $15 million financing round for ChartSpan Medical Technologies Inc., a Greenville, S.C.-based company that provides services for chronic care management programs in health care.
Blue Heron participated in the Series A financing round along with other investors BIP Capital, Bailey Southwell & Co., C&B Capital and Service Provider Capital.
ChartSpan provides a turnkey service for CMS compliance, chronic care management and annual wellness visits.
“They are helping patients who have chronic diseases get better management of those diseases,” said Tom Benedetti, Blue Heron’s managing partner and co-founder.
Founded in 2012, Blue Heron focuses its investments on companies in health care, technology and tech-enabled business service companies.
The investment in ChartSpace is the second from Blue Heron’s Fund II. The first, announced in January, was in McLean-based Verato Inc., which provides cloud-based patient matching and master patient index solutions.
Benedetti said Blue Heron focuses on three things in its health care-related investments: “How do you improve the patient experience, how do you make delivery of care more efficient, and how do you reduce costs?
“Solutions need to be brought to market that will help patients get the care they need and deserve, but also help the whole country reduce health care costs.”
ChartSpan plans to use the money to scale its operations nationally. As part of the financing round, Blue Heron named one of its operating advisers, Alan Cohen, the co-founder and chief strategy officer at Liazon Corp., to join the ChartSpan board of directors.