VIDA announces strategic investment from UnityPoint Health Ventures

VIDA announces strategic investment from UnityPoint Health Ventures

Press releases may be edited for formatting or style | July 25, 2019 Artificial Intelligence CT X-Ray
CORALVILLE, Iowa, July 25, 2019 /PRNewswire/ -- VIDA Diagnostics, Inc. (VIDA) today announced a strategic partnership and investment from UnityPoint Health Ventures, part of the innovation arm of Iowa's largest integrated health care system, UnityPoint Health. UnityPoint Health (UPH) and VIDA will partner to develop and commercialize VIDA's AI-powered lung analysis solutions (LungPrintⓇ), designed to positively impact patient outcomes and quality of care, and lower overall health care costs.

LungPrint is a fully automated AI-powered analysis of an inspiratory chest CT scan, providing a quick flag of lung density abnormalities that may be indicative of emphysema or interstitial lung disease. VIDA's solution addresses the large and growing burden of pulmonary disease in clinical care.

The partnership provides access to UPH's extensive and growing multi-state network of hospitals and clinics, and to its network of clinical experts who will contribute valuable insights to VIDA's solution roadmap and commercialization processes. The partnership uniquely scales VIDA to expand and strengthen its portfolio of clinically impactful solutions.

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"At UnityPoint Health, we're dedicated to making it easier to live well," said Matthew Warrens, Managing Director, UnityPoint Health Ventures. "Incorporating technological innovations such as VIDA's LungPrint is an important part of that vision. We're thrilled to work with VIDA to bring this technology to our patients and providers."

With this investment, VIDA also secures non-dilutive funds from the Iowa Economic Development Authority (IEDA), adding to IEDA's previous financial support of VIDA. The continued support from IEDA is in recognition of the opportunity for increased local and global impact of VIDA's solution.

"The State of Iowa is proud of VIDA's worldwide impact on patients with, or at risk of, lung disease," said Debi Durham, Director of the Iowa Economic Development Authority and Iowa Finance Authority. "VIDA and today's news are great examples of what can happen when public and private partners come together to foster an entrepreneur ecosystem that supports the success of start-ups in our state."

"VIDA's partnership with UnityPoint Health represents a shared vision for improving care to patients through higher quality, highly informed, yet affordable solutions through the influx of transformative innovations like LungPrint," said Susan A. Wood, Ph.D., CEO of VIDA. "Together we are able to broaden access to our game-changing solutions and deliver exceptional patient care."

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