VIDA Announces Strategic Investment From UnityPoint Health Ventures
$1M Investment Combined with Support from the State of Iowa Represents a Shared Vision to Transform Health Care through AI-Powered Innovation
Jul 25, 2019, 09:00 ET
CORALVILLE, Iowa, July 25, 2019 /PRNewswire/ -- VIDA Diagnostics, Inc. (VIDA) today announced a strategic partnership and investment from UnityPoint Health Ventures, part of the innovation arm of Iowa's largest integrated health care system, UnityPoint Health. UnityPoint Health (UPH) and VIDA will partner to develop and commercialize VIDA's AI-powered lung analysis solutions (LungPrintⓇ), designed to positively impact patient outcomes and quality of care, and lower overall health care costs.
LungPrint is a fully automated AI-powered analysis of an inspiratory chest CT scan, providing a quick flag of lung density abnormalities that may be indicative of emphysema or interstitial lung disease. VIDA's solution addresses the large and growing burden of pulmonary disease in clinical care.
The partnership provides access to UPH's extensive and growing multi-state network of hospitals and clinics, and to its network of clinical experts who will contribute valuable insights to VIDA's solution roadmap and commercialization processes. The partnership uniquely scales VIDA to expand and strengthen its portfolio of clinically impactful solutions.
"At UnityPoint Health, we're dedicated to making it easier to live well," said Matthew Warrens, Managing Director, UnityPoint Health Ventures. "Incorporating technological innovations such as VIDA's LungPrint is an important part of that vision. We're thrilled to work with VIDA to bring this technology to our patients and providers."
With this investment, VIDA also secures non-dilutive funds from the Iowa Economic Development Authority (IEDA), adding to IEDA's previous financial support of VIDA. The continued support from IEDA is in recognition of the opportunity for increased local and global impact of VIDA's solution.
"The State of Iowa is proud of VIDA's worldwide impact on patients with, or at risk of, lung disease," said Debi Durham, Director of the Iowa Economic Development Authority and Iowa Finance Authority. "VIDA and today's news are great examples of what can happen when public and private partners come together to foster an entrepreneur ecosystem that supports the success of start-ups in our state."
"VIDA's partnership with UnityPoint Health represents a shared vision for improving care to patients through higher quality, highly informed, yet affordable solutions through the influx of transformative innovations like LungPrint," said Susan A. Wood, Ph.D., CEO of VIDA. "Together we are able to broaden access to our game-changing solutions and deliver exceptional patient care."
About VIDA
VIDA is focused on transforming pulmonary care through intelligence. Powered by a unique combination of AI and quality-controlled image analysis services, VIDA's solutions aim to provide greater precision and personalization across a range of lung diseases including emphysema and airway obstructive diseases (COPD), asthma, interstitial lung disease, and lung cancer. LungPrint is part of the VIDA|vision® Software Suite and available for clinical use in the USA, EU, Canada and Australia. More at vidalung.ai.
About UnityPoint Health
UnityPoint Health Ventures is the corporate venture capital arm of UnityPoint Health, investing financially in companies that provide an easier, more personal experience for their patients. UnityPoint Health is one of the nation's most integrated health systems. Through relationships with more than 280 physician clinics, 32 hospitals in metropolitan and rural communities and home care services throughout its 9 regions, UnityPoint Health provides care throughout Iowa, western Illinois and southern Wisconsin. UnityPoint Health entities employ more than 30,000 employees, working toward innovative advancements to become the Midwest's premier health system known for redesigning the health care experience. For more information, visit unitypointhealth.org.
SOURCE VIDA Diagnostics, Inc.
