OKLAHOMA CITY (June 11, 2002) — Dr. William Paiva, Partner of Chisholm Private Capital Partners and Manager of the Oklahoma Life Sciences Fund (OLSF), announces that OLSF portfolio company ForHealthTechnologies has raised the largest first round venture capital financing for an Oklahoma healthcare company. New Enterprise Associates, Baltimore, led the $17 million financing with participation from CB Health Ventures, New York, Affinity Capital, Minneapolis; and Chisholm Private Capital of Oklahoma City.

"Advanced Academics is perfectly positioned to be the leader in the online education market," says Frick. "Their reliable technology platform, 24/7 availability of certified teachers and their leadership team who come from strong education backgrounds give them a tremendous advantage in a space that's ready to experience tremendous growth."

"This investment signals our ongoing belief that ForHealth Technologies has developed the right product, business model and leadership team to be a long-term success," says Dr. Paiva. "ForHealth and its founder Joel Osborne are great examples of the talent and innovation we have in Oklahoma and the reason why we at Chisholm Private Capital and the Oklahoma Life Sciences Fund are excited about helping ensure these companies can develop in our state."

According to Paiva, Chisholm has a strong history in the state of successfully joining or serving as the lead investor in venture capital syndicates, which can fund young companies through their growth cycle from startup through initial public offing or sale.
ForHealth designs robotic technology for use in hospital pharmacy settings. The company's flagship product, PARxD IV (pronounced "pard i-v"), is a robotic technology that can prepare a high number of syringe-based dosages per hour with a level of accuracy greater than any manual process. The PARxD IV can complete 500 syringes in eight hours without operator intervention.

"ForHealth Technologies is positioned to be the market leader in hospital pharmacy automation and this round of financing will keep us focused on our strategic growth," says Rod Wolford, CEO and Chairman of ForHealth Technologies, "Our technology is designed and tested by hospital pharmacists to ensure patient safety, to drive costs out of a healthcare system's supply chain and to enable hospitals to integrate point-of-care bedside scanning in the future."

Since unveiling the PARxD IV in December 2001, ForHealth has signed purchase agreements with several major healthcare organizations including Advocate Lutheran General, Park Ridge, Ill.; Spectrum Healthcare of Grand Rapids, Mich.; and Oakwood Healthcare of Dearborn, Mich.; and The Children's Hospital of Minneapolis.
"I appreciate the financial and strategic support that Oklahoma Life Sciences Fund and Chisholm Private Capital has given to ForHealth and my peers in the state’s burgeoning life sciences community," says Joel Osborne, Founder and President of ForHealth. "It's good to have people in your own backyard who will give you the chance to bring a dream to reality with the necessary funding and strategic partnerships to properly grow the company. ForHealth Technologies would not be here today without their support."

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To learn more about the Oklahoma Life Sciences Fund and Chisholm Private Capital Partners, please visit www.chisholmvc.com.