Last modified: Monday, December 18, 2006
Haelan sale marks success for IU technology investment fund and incubator
FOR IMMEDIATE RELEASE
December 19, 2006
BLOOMINGTON, Ind. -- Support provided by Indiana University's Pervasive Technology Labs Capital Investment Fund, along with incubator space and guidance from IU business experts, contributed to the success of the Haelan Corporation -- the Indianapolis-based healthcare management company acquired last week by CareGuide, Inc.
Mark Long, president and chief executive officer of the IU Research and Technology Corporation, who served as chairman of the Haelan board of directors for two years, said investment funds provided by Pervasive Technology Labs came at a key point in the company's development, allowing it to add employees and "update" its products. Students and faculty from the Kelley School of Business also helped the Haelan Corporation strengthen its business plan, and the company was provided space at the IU Emerging Technologies Center in downtown Indianapolis.
"The Haelan Corporation offers a prime example of how Indiana University helps companies succeed," said Long. "By combining a great product and dedicated people with support from these IU resources, the Haelan Group was destined for success."
"We're very appreciative of the help we received from Indiana University," said Haelan Group founder and chief executive officer, Dr. Julie Meek. "IU's support allowed us to grow from a small company with four or five employees when we moved into the IU Emerging Technologies Center, to an organization with now over fifty employees."
Created with a grant from the Lilly Endowment, Inc., the Pervasive Technology Labs Capital Investment Fund provides investment dollars and "seed funding" to promising Indiana technology-based companies. The Indiana University Emerging Technologies Center functions as a business incubator and accelerator for life sciences, biotechnology and bioinformatics companies.
About Pervasive Technology Labs at Indiana University
Pervasive Technology Labs at IU (http://pervasive.iu.edu), established in 1999 by a grant from Lilly Endowment, Inc., performs leading-edge research based on the ubiquity of information technology in today's world, creating new inventions, devices and software that extend the capabilities of information technology in advanced research and everyday life. Fundamental to its mission are efforts to attract, encourage, educate and retain Indiana 's workforce of tomorrow, and to accelerate economic growth in the state through the commercialization of new inventions and by forming and supporting new startup companies. In carrying out its mission, Pervasive Technology Labs is helping IU maintain its position of international leadership in information technology research and, as a result, is helping to enhance the prosperity of the entire state of Indiana.
About Haelan Corporation
Headquartered in Indianapolis, Haelan Corporation, d/b/a The Haelan Group, is a nationally recognized total population health management company serving government and employer markets. Haelan's vision to produce best-in-class health and financial outcomes for its clients led to 11 years of research on its predictive modeling and coaching solutions, culminating in the One Care Street(TM) product suite. Haelan's clients enjoy unprecedented health claims impact with low or negative year-over-year healthcare cost trends thanks to Haelan's rigorous research and controlled trials in developing and validating the program. Visit http://www.haelan.com for more information.