Healthcare Innovation Network AVIA Secures $22 Million in Funding to Expand Digital Health Services

VCBeat (WeChat ID: vcbeat) has learned that on October 23, 2019, AVIA, a leading partner in digital health insights, strategic guidance, and consulting services, announced the completion of a $22 million financing round. The round was led by First Trust Capital Partners, with participation from Sumitomo Corporation of Americas and investment bank Ziegler.

AVIA, headquartered in Chicago, USA, was established in 2012 as an innovative healthcare network company. Its primary business is to assist hospitals and health systems in identifying, selecting, and deploying optimal emerging IT-enabled solutions to enhance operational efficiency and achieve value-based competition. Meanwhile, AVIA is also committed to fostering collaboration between medical device suppliers and entrepreneurs to reduce the risks associated with the adoption of innovative solutions by healthcare institutions. AVIA develops IT-enabled solutions by interpreting clinical data, designing care models, and engaging with patients, thereby addressing the health-related needs of diverse populations.

This round of funding will be used to expand AVIA’s coverage into new digital thematic areas, services, and markets:

Key Focus Areas. AVIA has taken significant steps: (1) building next-generation digital front doors and consumer journeys for healthcare organizations; (2) delivering better, more affordable care models to vulnerable populations through the Medicaid Transformation Project; (3) enhancing access to health via virtual care models; and (4) unlocking workforce capacity through automation solutions. At the request of its partners, AVIA will expand the breadth and depth of its expertise in consumerism and population health topics, and refine its solutions to compete on productivity, feasibility, and satisfaction.

Services. Building on its work in ensuring clients are ready for digital transformation and creating results-oriented digital roadmaps, AVIA is expanding its consulting business to help healthcare organizations align their overall strategies with specific, technology-driven business initiatives. The company is increasing its resource investment and collaborating with boards of directors and senior management teams to harness the differentiating advantages of digitalization, thereby helping partner companies achieve their strategic objectives.

Market. AVIA has provided services to more than 50 healthcare institutions across China. With this funding, AVIA will expand its services to children’s hospitals, broader health systems, and health insurance companies. The AVIA Connect online platform brings participants together to take more decisive action toward industry goals.

Aaron Martin, an investor in AVIA, stated, “To truly enhance quality, affordability, and access, we need to develop practical digital solutions for healthcare providers, patients, and consumers. AVIA helps us scale our digital transformation efforts to fulfill our mission and serve the community.”

AVIA’s continued growth has also prompted 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, and Darren Dworkin, Chief Information Officer and Senior Vice President of Corporate Information Services at Cedars-Sinai.

Phillips will leverage his more than 20 years of experience in healthcare and medical technology investment to contribute to AVIA’s continued growth.

First Trust Capital Partners (TCP) is a venture capital firm based in Chicago, United States. It focuses on investing in healthcare companies, providing them with financial support and technical services.

Ziegler is a comprehensive and innovative financial services firm founded in 1902 and headquartered in Chicago, USA. The company specializes in the healthcare, senior living, and education sectors, as well as general municipal and structured finance. It provides financing, strategic advisory services, and equity and fixed-income sales to institutional and individual investors across the United States.

(Compiled by Wang Fang)