Vida Health – a leading provider of virtual cardiometabolic care services – recently announced it has closed $28.5 million in financing led by existing investors, including General Atlantic, Ally Bridge, Canvas Ventures, Hercules Capital, and other insiders. And the company also announced the appointment of Joe Murad as Chief Executive Officer, effective immediately.
Murad is succeeding Stephanie Tilenius – who will step down following nine years of service as Founder and Chief Executive Officer and transition to an advisory capacity. And Murad has also joined the company’s Board of Directors.
Vida plans to use the funding to scale further and pursue ongoing growth opportunities, particularly in the rapidly expanding GLP-1 market. And the funding also advances Vida’s mission of increasing access to innovative treatments that improve patient outcomes at a lower cost and address growing and unmet needs in the market.
Vida provides a differentiated clinical care platform combining prescriptive and behavioral therapies and addresses a growing need in the cardiometabolic space – which affects approximately 40% of adults in the U.S. Vida has a long track record of cardiometabolic innovation — from being the first to integrate Cognitive Behavioral Therapy with cardiometabolic care, to launching the first full Spanish intervention, to being the first solution to combine behavior change with GLP-1 prescribing. Going forward, Vida is well-positioned to mitigate the impact and cost of cardiometabolic disease in the GLP-1 market, where demand is projected to reach $100 billion by 2030.
Murad brings over two decades of experience leading healthcare technology companies, with a demonstrated ability to guide venture-backed businesses from early stages through phases of significant growth. And he most recently served as President and CEO of WithMe Health, a digital health company offering pharmacy benefits management and personalizing medication experiences for employers, employees, and their families. He was also previously President and CEO of PokitDok, a platform-as-a-service company for healthcare, before its acquisition by ChangeHealthcare. Murad has also held various leadership roles at Willis Towers Watson and served as Chief Operating Officer at Extend Health, Inc. and as Director of Business Development at eHealth, Inc. He earned a Bachelor of Arts from the University of Southern California.
KEY QUOTES:
“On behalf of the Board of Directors, I want to thank Stephanie for her countless contributions to Vida, and for making her vision to improve care for patients with chronic diseases a reality for so many across the country. We are confident in Joe’s ability to lead Vida in further addressing growing market demand and bringing the benefits of its unique, comprehensive offering to more patients and employers around the country.”
— Matt Levin, Executive Chair of the Vida Board of Directors
“Vida has significant momentum in its business, having delivered best-in-class clinical and financial outcomes for its rapidly expanding book of enterprise and health plan customers with respect to cardiometabolic conditions. I am thrilled to be joining the Company at such a key moment in our growth trajectory and look forward to close partnership with the Board and the outstanding Vida team to further accelerate our business. Vida’s offering has the potential to redefine virtual cardiometabolic care and improve the lives of millions, and I am passionate about advancing our mission and leading the company through our next phase of growth.”
— Joe Murad
“It has been a privilege to work with the talented and dedicated Vida team, and I am deeply proud of all that we have accomplished. Joe has a proven track record of growing and developing early-stage companies in the healthcare technology space, and I’m confident that he is the right leader to take Vida to the next level of growth and build upon the Company’s commitment to innovation and patient service.”
— Stephanie Tilenius
