Avia, a US-based healthcare consulting services provider backed by several healthcare systems, has secured $22m in funding from investors including Sumitomo Corporation of Americas, a subsidiary of diversified conglomerate Sumitomo.
Venture capital firm First Trust Capital Partners led the round, which also featured investment bank Ziegler and undisclosed healthcare systems and strategic investors.
Founded in 2012, Avia offers consulting services to healthcare companies and also runs a platform called Avia Innovation Network which allows healthcare systems to collaborate on digital innovation practices.
Eric Langshu, co-founder and chief executive of Avia, said: “The board-level conversation at most health systems now centres around building specific strategies and action plans to bring the organisation’s digitally enabled future to life.
“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 recognises that need, and with the expansion in our service model, we’re ready to help propel the industry forward.”
Avia confirmed care providers Cedars-Sinai Health System, ChristianaCare, Inception Health, MemorialCare, Memorial Hermann Health System, OSF HealthCare, Providence, Rush University Medical Center, Silver Cross, St Luke’s University Health Network, University of Kansas Health System and University of Virginia Health System as investors in the latest round.
The latest funding followed a $7.2m round in 2016 led by Froedtert, a part of Inception Health, and backed by Rush University Medical Center, OSF, Providence, St. Luke’s, VC firm Jump Capital and VC fund Jumpstart Ventures.
The latter two had previously joined Providence’s $150m corporate venturing fund and healthcare VC fund 7-Wire Ventures to supply $6m for Avia in 2014. Innovation accelerator Pritzker Group is also among the company’s earlier investors.
Jon Phillips, First Trust Capital’s managing director and head of private equity, is joining Avia’s board of directors in conjunction with the round, along with Darren Dworkin, senior vice-president of enterprise information services and chief information officer for Cedars-Sinai.
