Primary Health, Inc. Secures $12 Million Venture Capital Investment; Carlyle Venture Partners Leads Private Placement Equity Round.BOISE, Idaho--(BUSINESS WIRE)--June 30, 1998--Primary Health, Inc. (PHI phi n. Symbol  The 21st letter of the Greek alphabet.PHI, n See health information, protected. ), Idaho's largest medical group, today announced that it has completed a second round of venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends totaling in excess of $12 million. Carlyle Venture Partners, L.P., a $210 million venture capital firm fund affiliated with the Washington, D.C.-based Carlyle Group  The of this article or section may be compromised by "weasel words".You can help Wikipedia by removing weasel words. The Carlyle Group is a Washington, D.C. invested $7 million to lead the round. The current investment round will give PHI the capital needed to broaden its market presence as the leading product-based physician practice management company in secondary and rural markets. Endorsement of the PHI Business Model Investing along with Carlyle Venture Partners are Capstone Ventures of Menlo Park, California Menlo Park is a city in San Mateo County, California in the United States of America. It is located at latitude 37°29' North, longitude 122°9' East. Menlo Park had 30,785 inhabitants as of the 2000 U.S. Census. and PHI's existing institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . Carlyle Venture Partners will become the largest institutional investor in the Boise-based health care provider. "We decided to partner with Carlyle Venture Partners and Capstone Ventures because of their experience in the healthcare industry, the resources they can bring to our Board of Directors, and their commitment to building enduring organizations," said Elden Mitchell Mitchell, city (1990 pop. 13,798), seat of Davison co., SE S.Dak.; inc. 1881. Mitchell is a trade, distribution, and shipping center for a dairy and livestock area. , president of Primary Health, Inc. "We were extremely pleased at the enthusiasm with which the Primary Health management and physician teams were received during our venture capital search. Our physician-directed model for health care delivery was uniformly viewed as both innovative and highly relevant to today's health care environment." Funding Growth A portion of the venture capital investment will go toward expanding the market share for Primary Health's managed care products and medical practices. The company currently delivers or manages the care of more than 90,000 residents of southwest Idaho. In addition, a significant portion of the $12 million placement will be used to fund growth through acquisitions, mergers and partnerships. Primary Health has created an infrastructure to support a major regional healthcare delivery system, and the company plans to build on this foundation. "Over the next five years it is our intention to expand our operations throughout the Intermountain West The Intermountain West is a region of North America lying between the Rocky Mountains to the east and the Cascades and Sierra Nevada to the west. It is also called the Intermountain Region. , and to merge with dominant practices in key secondary markets," stated Mr. Mitchell. "While we will develop products to support these practices, we will do so based on our model of physician-directed health care." About The Investors Carlyle Venture Partners is affiliated with The Carlyle Group, a global investment firm based in Washington, D.C. that currently has more than $3 billion of capital under management. The Carlyle Group has a proven track record for investing in rapidly growing industries and companies. Carlyle Venture Partners, which invests in high growth opportunities in a discrete set of industries that includes health care, provides innovative management teams with the capital, strategic advice and industry relationships needed to accelerate and sustain company growth. Capstone Ventures is a California-based firm with a particular interest in businesses where healthcare and information technology come together. Existing institutional investors include J.P. Morgan of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Enterprise Associates and Accel Partners of California, Piper Jaffray Piper Jaffray & Co. (NYSE: PJC), often shortened to just Piper Jaffray or PiperJaffray, is a U.S. middle-market investment banking firm based in Minneapolis, Minnesota and is a focused on delivering financial advice, investment products and transaction execution Healthcare Capital of Minnesota, and Coleman Swenson Hoffman Booth Inc. of Tennessee. A significant portion of the companies ownership remains in the hands of its physicians. About Primary Health, Inc. Primary Health, Inc.'s mission is to provide the communities it serves with high-quality healthcare services that are conveniently located and easily accessible. With a network of medical centers throughout southwest Idaho, Primary Health comprises a system of physicians practicing family, OB/GYN, pediatric pediatric /pe·di·at·ric/ (pe?de-at´rik) pertaining to the health of children. pe·di·at·ric adj. Of or relating to pediatrics. , occupational, geriatrics geriatrics (jĕrēă`trĭks), the branch of medicine concerned with conditions and diseases of the aged. Many disabilities in old age are caused by or related to the deterioration of the circulatory system (see arteriosclerosis), e.g. , sports and internal medicine. Affiliated within this structure is a referral network of specialists and hospitals throughout the served communities. For further information on Primary Health, Inc., address inquiries to the company's corporate offices at 800 Park Blvd., Suite 760, Boise ID 83712, or contact Stuart Vogelman, Vice President, Marketing at 208/333-1548 or stuartv@micron micron: see micrometer. One micrometer, which is one millionth of a meter or approximately 1/25,000 of an inch. The tiny elements that make up a transistor on a chip are measured in micrometers and nanometers. See process technology. .net.
CONTACT: Primary Health, Inc.
Stuart Vogelman, 208/333-1548
stuartv@micron.net
or
Boss Communications, Inc.
Michael Boss, 208/424-3433
mboss@bosscom.com
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