Oregon Investment Fund Selects Kryptiq for First Direct Investment; Portland-Based Healthcare Company Completes C Round from Current Investors and Oregon Investment Fund
"We looked at dozens of companies, within areas of Oregon excellence, as candidates for the first direct investment," said David Almodovar, vice president with Credit Suisse. "Kryptiq has the potential to change the healthcare landscape, providing tremendous opportunity for growth and the prospect of becoming one of Oregon's great companies. This combination makes Kryptiq an ideal investment for OIF to create strong returns for the state's pension fund."
“We've long realized that Kryptiq is well positioned to transform the healthcare market, and the addition of Credit Suisse to the investor group further bolsters Kryptiq's opportunities for growth.”
"This direct investment is further validation of Kryptiq's place as a major player in the medical communications sector and an important milestone for the Oregon Investment Fund," said State Treasurer Randall Edwards. "Investments like this are part of a unique win-win scenario where Oregon is potentially earning returns on its money and investing in the growth of one of our own."
Kryptiq Corporation streamlines healthcare communications among health plans, patients, providers, and pharmacies with secure messaging, electronic prescribing, disease management and contract management technologies. By integrating these solutions with existing systems and applications, Kryptiq enables the trusted transport of health information where and when it is needed. The company's fast-growing customer base includes 12 of North America's fastest-growing health plans and many of the top 100 integrated health networks, spans 48 states plus Washington, D.C., and includes well-known providers and health plans such as Providence Health System, Capital Region Healthcare, MeritCare Health System, Eastern Maine Healthcare, BlueCross BlueShield of Minnesota and Northwest Permanente.
"Partnering with a global investment bank such as Credit Suisse brings significant resources to our portfolio companies," said Erik Benson, managing director, Voyager Capital. "We've long realized that Kryptiq is well positioned to transform the healthcare market, and the addition of Credit Suisse to the investor group further bolsters Kryptiq's opportunities for growth."
About the Oregon Investment Fund
The Oregon Investment Fund was established in February 2004, with a goal of identifying new investment opportunities in the region for the Oregon Public Employees Retirement Fund (OPERF), which contributed $100 million to create the fund. Credit Suisse, the Oregon Investment Fund's manager, contributed an additional $5 million. Contact www.oregoninvestmentfund.com.
About Credit Suisse
As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in more than 50 countries and employs approximately 40,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CSR), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com
In its asset management business, Credit Suisse offers products across the full spectrum of investment classes, ranging from equities, fixed income, and multiple asset-class products to alternative investments such as real estate, hedge funds, private equity and volatility management. Credit Suisse's asset management business manages portfolios, mutual funds, and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 18 countries, Credit Suisse's asset management business is operated as a globally integrated network to deliver the Bank's best investment ideas and capabilities to clients around the world.