Healthline Networks raises $14M through third round of financing led by IGC

Healthline Networks (www.healthline.com), the leading provider of intelligent health information services, today announced that it has raised $14 million in a third round of financing led by Investor Growth Capital (IGC), the wholly owned venture capital arm of Investor AB (Investor). The round also includes strategic financing from GE/NBC Universal's Peacock Equity Fund, a joint venture between GE Capital's Media, Communications & Entertainment business and NBC Universal and Reed Elsevier Ventures.

“This financing round is an important milestone for Healthline as we continue our journey to become the global leader in health information services”

Healthline will use proceeds from the third round to expand research and development, engineering, sales and network services to meet the growing demand from a broad spectrum of consumer-focused media and healthcare businesses looking to improve the way consumers find, understand and manage health-related information. The company will also work to expand its advertising platform and services.

"Consumers have become increasingly engaged in their own healthcare, and smart organizations are looking to capitalize on this trend," said Phil Dur, Managing Director, IGC, who has also joined Healthline's board of directors. "IGC's investment in Healthline, given its innovative search and advertising technology, is consistent with our track record of partnering with industry-leading companies. We're looking forward to assisting Healthline with its efforts to continue to provide products that not only help consumers, but media and healthcare partners as well."

Since its launch in late 2005, Healthline Networks has built a consumer-health destination Web site, www.healthline.com, which is a Top 10 health information site, as measured by comScore MediaMetrix. Healthline has also developed proprietary medical search technology and a health advertising platform. Additionally, Healthline has entered into over 40 technology, content and advertising network partnerships with leading publishers, health plans and online media companies including AARP, ABCNews.com, Aetna, AOL, Elsevier, GE, Health.com, Ingenix, iVillage, Medhelp, United Health Group, U.S. News and World Report and Yahoo among others.

"This financing round is an important milestone for Healthline as we continue our journey to become the global leader in health information services," said West Shell III, chairman and chief executive officer of Healthline. "We doubled the business and achieved profitability last year, reaching almost 100M consumers a month across our network. This latest financing, led by IGC with continued support from existing investors, will accelerate Healthline's growth and scalability, and allow us invest more heavily in our innovative technology solutions that transform the way consumers interact with health information."