Press release

Blue Heron Capital Invests in Leading Chronic Care Management Provider

Sponsored by Businesswire

Blue Heron Capital, a Richmond, Virginia-based growth equity fund,
announced today its participation in a $15 million Series A financing
round in ChartSpan Medical Technologies, Inc. (“ChartSpan” or the
“Company”) alongside investors BIP Capital, Bailey Southwell & Co., C&B
Capital, and Service Provider Capital.

Headquartered in Greenville, South Carolina, ChartSpan is the nation’s
largest healthcare managed service provider for chronic care management
programs. The Company offers a turn-key service for CMS compliance,
Chronic Care Management, and Annual Wellness Visits, allowing both
patients and providers to see higher levels of engagement, better
adherence to prescribed care paths, and improved patient outcomes.
ChartSpan plans to use the funds to scale its operations nationally.

“Blue Heron and the entire syndicate represent a seasoned group of
venture firms who have deep healthcare experience. As we begin to expand
our presence outside the Southeastern United States, we know we need
partners who can help us scale on a national level and move into the
large, enterprise healthcare marketplace,” said ChartSpan CEO,
Jon-Michial Carter. “Most importantly, the firms in this round are a
cultural fit. Culture drives our success and this syndicate group
embraces our values and convictions. We couldn’t be more delighted to
have such a strong group of investors supporting us.”

As part of the round, Blue Heron operating advisor, Alan Cohen, will
join the ChartSpan Board of Directors. Alan brings a wealth of
experience in scaling successful healthcare technology and tech-enabled
services businesses and has had several successful exits in his career.

“ChartSpan represents an attractive opportunity for Blue Heron to
provide its operating expertise and talent to help the Company continue
its impressive growth,” said Tom Benedetti, Blue Heron Co-Founder and
Managing Partner. “It’s imperative that services and solutions in
Healthcare help reduce costs and deliver better patient outcomes, and
ChartSpan’s innovative solution does just that. We are excited to
partner with Jon-Michial and the rest of the ChartSpan team.”

About ChartSpan

ChartSpan is the largest, managed service provider of chronic care
management programs in the United States. The company provides turn-key,
managed care coordination and compliance programs for doctors, clinics,
and health systems. ChartSpan manages patient care coordination and
value-based programs for more than 100 of the most successful practices
and health systems in the United States.

About Blue Heron Capital

Blue Heron Capital is an operationally-focused private equity firm
investing in healthcare and technology-enabled business service
companies. Blue Heron supports portfolio companies with a team of
industry experts, including C-level executives and successful
entrepreneurs with decades of experience building and managing vibrant