Recently SBIC licensed venture capital fund bringing needed capital to high-growth companies in underserved Midwest markets

September 29, 2004 - Chicago - Hopewell Ventures, a $100 million venture capital fund licensed by the U.S. Small Business Administration as a Small Business Investment Company (SBIC), announced today that it has made a $1.5 million venture investment in Chicago-based TLContact, Inc. as part of a $2.3 million round of venture financing. Many of the company’s previous investors, mostly individuals, also participated in the round.

TLContact licenses a private web service, called CarePages, to hospitals and healthcare institutions. CarePages enable patients to communicate with family, friends and loved ones during hospitalization and recovery. The HIPAA-compliant, password-protected service is emerging as a "standard of care" in the industry, with more than 100 of the nation’s leading hospitals offering the service at no cost to their patients.

Eric Langshur, TLContact CEO, and his wife Dr. Sharon Langshur, started the company after their son Matthew was hospitalized at a very young age. "We knew from personal experience how important it was to stay connected to friends, relatives, and other sources of emotional support," said Eric. "We are excited to have the financial and strategic support of Hopewell as we work to rapidly expand our customer base and develop new CarePages applications."

Patients who use CarePages have been shown to be more satisfied with their healthcare providers. They often use the service to compliment nurses and other employees who provide exceptional service. Visitors to CarePages can learn about and even donate to the healthcare institution. On average, each CarePage has more the 50 unique visitors and remains active for close to three months during the patient’s recovery.

"When I first met with Eric and his management team I immediately knew we wanted to work with TLContact," said Hopewell Ventures partner Thomas Parkinson. "CarePages meets a vital and growing need for healthcare consumers and healthcare institutions."