- Digital health insights AVIA announced it has raised $22 million in funding led by First Trust Capital Partners
AVIA — a leading partner for digital health insights, strategic guidance, and consulting services — announced it raised $22 million in funding to expand on its services. This round of funding was led by First Trust Capital Partners. And the round also includes a number of strategic investors and health systems. There are 12 health systems that have invested in AVIA. And there are more than 50 health systems that have selected the AVIA 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,” said Eric Langshur, co-founder and CEO of AVIA.
Nearly all healthcare organizations are striving towards improving quality, productivity, driving growth, and preparing for financial risk. And the proliferation of new digital solutions enables the achievement of these goals assuming they are deployed effectively.
The AVIA Innovator Network members are able to access unique insights, participate in collaborative strategic initiatives, and engage in consulting services for increasing speed and assurance for their digital transformations.
This funding round will enable AVIA to expand its coverage of new digital topical areas, services, and markets. AVIA has several initiatives underway, including next-generation Digital Front Door and consumer journeys for healthcare organizations and unlocking workforce capacity through automation solutions.
In terms of services, AVIA is building on prior work in ensuring client preparedness for digital transformation and creating results-focused digital roadmaps.
And with this round of funding, AVIA is going to extend its services to pediatric hospitals, a broader group of health systems, and health insurers starting with provider-sponsored plans. Plus the AVIA Connect online platform will link participants together thus enabling more decisive action toward the goals of the industry.
“To truly improve quality, affordability, and access, we need to accelerate practical digital solutions for providers, patients, and consumers,” added 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.”
AVIA’s list of 12 Member-Owners include Cedars-Sinai Health System, ChristianaCare, Inception Health (Froedtert & the Medical College of Wisconsin), MemorialCare, Memorial Hermann Health System, OSF HealthCare, Providence, Rush University Medical Center, Silver Cross Hospital, St Luke’s University Health Network, The University of Kansas Health System, and University of Virginia Health System. And along with First Trust Capital Partners, the strategic investors in this round included Sumitomo Corporation of Americas and Ziegler.
The company also announced it added two healthcare industry veterans to its board of directors, including Jon Phillips, Managing Director and Head of Private Equity at First Trust and Darren Dworkin, Senior Vice President of Enterprise Information Services and Chief Information Officer at Cedars-Sinai.
Featured image credit: AVIA