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AVIA Raises $22 Million in New Funding Round to Propel Service Expansion

October 23, 2019 GMT

CHICAGO--(BUSINESS WIRE)--Oct 23, 2019--

AVIA, the leading partner for digital health insights, strategic guidance, and consulting services, today announced it has raised $22 million to expand its services. Led by First Trust Capital Partners, LLC, the round includes a number of strategic investors and health systems with a similar vision for the future. Twelve health systems have invested in AVIA and count themselves among the 50+ health systems that have selected the company as their partner to help navigate the threats and opportunities presented by the digitization of healthcare.

“Digital technologies have transformed nearly every other industry, resulting in massive value creation, increased competitive intensity, and greater disparity between winners and losers. The installation of electronic medical record systems over the last decade represents just the first step in digital’s impact on healthcare. As the digital disruption of healthcare accelerates over the coming decade, we see big opportunities but equally big risks for incumbent healthcare providers,” says Eric Langshur, Co-founder and CEO of AVIA.

Globally, nearly all healthcare organizations are working to drive growth, improve quality and productivity, and prepare for financial risk. The proliferation of new digital solutions enables achievement of these goals -- but only if organizations deploy them effectively. Members of the AVIA Innovator Network access unique insights, participate in collaborative strategic initiatives, and engage in consulting services to increase speed and assurance for their digital transformations. This round of funding enables AVIA to expand its coverage of new digital topical areas, services and markets:

“The board-level conversation at most health systems now centers around building specific strategies and action plans to bring the organization’s digitally enabled future to life,” says Langshur. “This investment of capital comes at a time when our clients – and the healthcare industry at-large – are asking for proven solutions to support new care models, improve access, accelerate efficiency, and achieve better health outcomes. AVIA recognizes that need, and with the expansion in our service model, we’re ready to help propel the industry forward.”

“To truly improve quality, affordability and access, we need to accelerate practical digital solutions for providers, patients, and consumers,” says Aaron Martin, Chief Digital Officer of Providence, an AVIA investor and member since 2013. “AVIA’s unique business and service model helps us extend our efforts in digital transformation in order to deliver our Mission and serve our communities.”

Increased strength of investors and board expertise
With this funding round, AVIA’s list of Member-Owners has now grown to 12 organizations:

In addition to First Trust Capital Partners, LLC, strategic investors in this round included Sumitomo Corporation of Americas, a global business and investment company with deep ties to a variety of healthcare constituencies, and Ziegler, an investment bank with deep healthcare industry knowledge.

AVIA’s ongoing growth has also led the organization to add two healthcare industry veterans to its board of directors: Jon Phillips, Managing Director and Head of Private Equity at First Trust Capital Partners, LLC, and Darren Dworkin, Senior Vice President of Enterprise Information Services and Chief Information Officer at Cedars-Sinai.

Phillips will draw on his 20+ years in the healthcare and healthcare technology investment community to contribute to AVIA’s continued growth. He serves on the boards of several private companies in the healthcare space, including Lightbeam Health, Inc., Cordata Healthcare Innovations, LLC, and PatientBond, LLC.

Dworkin is renowned in the healthcare industry for his technology leadership and championing of innovation at Cedars-Sinai and, before that, at Boston Medical Center. AVIA will benefit from his first-hand perspectives on the key pain points and challenges health systems face when implementing and scaling digital solutions.

About AVIA
AVIA is the leading partner for digital health insights, strategic guidance, and consulting services. Members of the AVIA Innovator Network solve pressing challenges with digital solutions that deliver outsized financial and clinical results. AVIA provides strategic focus, unique market intelligence, and proven resources that accelerate digital transformation throughout healthcare. Learn more at aviahealthinnovation.com. Follow us on LinkedIn and Twitter.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191023005232/en/

CONTACT: Aria Marketing for AVIA

Danielle Johns

(617) 332-9999 x241

djohns@ariamarketing.comKate Soden

Senior Director, Marketing Communications

AVIA

312-999-9600

ksoden@avia.health

KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES HEALTH TECHNOLOGY OTHER TECHNOLOGY INSURANCE GENERAL HEALTH CONSULTING

SOURCE: AVIA

Copyright Business Wire 2019.

PUB: 10/23/2019 09:04 AM/DISC: 10/23/2019 09:04 AM

http://www.businesswire.com/news/home/20191023005232/en