Chicago-based AVIA has raised $22 million to expand its role as a partner for digital health insights, strategic guidance and consulting 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 more than 50 health systems that have selected the company as a partner to help navigate the threats and opportunities presented by the digitization of health care, the company said in a news release.
“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,” AVIA Co-Founder and CEO Eric Langshur said in a statement.
In addition to First Trust Capital Partners, strategic investors in this round included Sumitomo Corp. of Americas, a global business and investment company with deep ties to a variety of health care constituencies; and Ziegler, an investment bank with deep health care industry knowledge.
AVIA’s ongoing growth has also led the organization to add two health care industry veterans to its board of directors: Jon Phillips, managing director and head of private equity at First Trust Capital Partners, and Darren Dworkin, senior vice president of enterprise information services and CIO at Cedars-Sinai.