Back to News

KBL in the News


Alexandria, Va. - January 22, 2002

Lumenos, the consumer-driven health care company, announced today that it has closed its third round funding at $28.6 million bringing the total investment to $76 million. The additional funding will enable Lumenos to extend its leadership position in the consumer-driven marketplace and to continue to ramp up sales and customer service operations to meet the burgeoning demand for its program. 

Since announcing the last round of funding in September 2000, Lumenos has signed a number of major U.S. employers as clients, including Pharmacia, Radnor Holdings Corporation and Novartis.

"2001 was a period of rapid growth for Lumenos, and the company switched into high gear to meet market demand," said Chip Tooke, president and chief executive officer of Lumenos. "This funding - which represents the continued commitment from our investing partners - will enable the company to meet the demands of even more self-insured employers who want to offer their employees more choice and control over health care decisions and dollars."

The select group of strategic and financial investors includes Internet HealthCare Group, KBL Healthcare Ventures, Liberty Partners, L.P., Novartis, Johnson & Johnson Development Corporation, Draper Fisher and Jurvetson, and Allianz of America, Inc.

With the Lumenos program, employers make an annual allocation to each employee's Health Savings Account (HSA). Members can then use their HSA to pay for routine health care and preventive care, and most other health-related expenses. Most of the dollars remaining at the end of the year can be rolled over and accumulate in the employee's HSA for future health care needs. To help members spend health care dollars wisely, Lumenos provides online and offline access to the latest health care information, services and support.

About Lumenos
Lumenos, based in Alexandria, Va., is a consumer-driven health program available to self-insured employers, which puts routine health care dollars into the hands of employees. In addition, Lumenos provides the health and financial tools to help employees manage their health care dollars and decisions wisely. Consumer-controlled routine health expenses can help employers reduce health care costs. For more information, visit:

KBL Healthcare Ventures
757 Third Avenue, 21st Floor
New York, NY 10017
(212) 319-5555

| Top | Home | Strategy | KBL Team | Advisory Board |
| Current Portfolio | Prior Investments | News |
| Submit Ideas | Contact Us |

Copyright 2000-2004. KBL Healthcare.