LifeImage scores $5 mln from Zaffre Investments

Newton, Massachusetts-based LifeImage, a medical image exchange platform, has raised $5 million in funding. The investor was Blue Cross Shield of Massachusetts‘ investment arm Zaffre Investments LLC. PRESS RELEASE NEWTON, Mass.—September 24, 2015— lifeIMAGE, the medical image exchange platform that enables imaging data interoperability across healthcare networks, providers, patients and technology systems, today shared details of a $5 million strategic investment from Zaffre Investments, LLC, the investment arm of Blue Cross Blue Shield of Massachusetts (BCBSMA). This investment follows the $17.5 million round of financing lifeIMAGE received in May, which was led by Cambia Health Solutions, a family of health solutions companies and health insurance plans based in the Pacific Northwest, and supported by existing investors Cardinal Partners, Galen Partners and Long River Ventures, among others. lifeIMAGE is an interoperable medical image sharing network that helps healthcare providers access their patients’ imaging records, regardless of where exams are performed or stored. This leads to faster, higher quality care, and lower rates of harmful and costly repeat testing. The lifeIMAGE network has been adopted by more than 120 multi-site health systems across the country, including the leading providers in Massachusetts, to improve care coordination for patient consultations, referrals and transfers. “Technology has the ability to reduce unnecessary and duplicative testing and images, and will lead to long-term improvement in both care delivery and patient outcomes here in Massachusetts, and beyond,” said Tuoyo Louis, Managing Director, Zaffre Investments. “lifeIMAGE represents technology that we believe enables these goals and makes it easier for patients to navigate the health system.” Zaffre Vice President, Steven J. Fox, will serve as board observer at lifeIMAGE, and will help identify opportunities to connect providers and patients in the BCBSMA network with their imaging studies via lifeIMAGE. He is a longtime champion and advocate of interoperable health IT and brings a strong payer and industry knowledge to lifeIMAGE. The lifeIMAGE platform supports large implementations at academic medical centers, pediatric facilities, certified trauma centers, oncology centers of excellence and imaging providers by combining local network image sharing with a medical-grade secure cloud. This allows multidisciplinary care teams to more easily access their patients’ imaging records, as well as share them with doctors and specialists outside a health system’s network. The platform is typically leveraged by clinicians in image-intensive disciplines such as orthopedics, neurology, cardiology, oncology, pulmonology, surgery, pediatrics, critical care, radiology and others. “Health providers and health plans are both seeing significant value associated with image sharing,” said Hamid Tabatabaie, lifeIMAGE CEO and co-founder. “Physicians need to be made aware of when their patients’ imaging tests become available, even when they are performed outside their health system. We continue to build out and enhance this intelligent, interoperable health data network and are excited to expand our strategic partnerships with industry leaders who share in our vision.” More users, providers sign on In addition to this funding news, lifeIMAGE also released new network statistics and details on customer momentum. New organizations on the lifeIMAGE customer roster include Cedars-Sinai Medical Center (Los Angeles), Baptist Health Jacksonville (FL), Children’s Hospital of Orange County, City of Hope Cancer Center (Duarte, CA), Emory Healthcare (Atlanta), Children’s Hospital of Wisconsin (Wauwatosa), North Mississippi Medical Center (Tupelo) and Valley Children’s Hospital (Madera, CA). Additionally, numerous existing customers recently expanded their lifeIMAGE implementations, such as Tufts Medical Center (Boston) and University Health System (San Antonio, Texas), with some including EHR integrations that make medical imaging studies viewable from inside the digital patient record. In total, nearly 450 hospitals now use lifeIMAGE for medical imaging across their campuses. Another 700 hospitals have joined the network to exchange those images with other members, for a combined total that exceeds 1,100, or nearly one in five registered U.S. hospitals. The 90,000 lifeIMAGE clinical users represent all 50 U.S. states and more than 90 countries. In total, healthcare providers so far have shared more than two billion medical images through the lifeIMAGE network. About lifeIMAGE lifeIMAGE provides a medical image exchange platform that is deployed at hundreds of leading healthcare organizations to facilitate the secure, e-sharing of medical imaging information among hospitals, radiology groups, physicians and patients. Our services are helping providers improve the quality and timeliness of care, expand referral business, and eliminate wasteful spending. About Zaffre Investments Zaffre Investments, LLC is a wholly-owned subsidiary of Blue Cross Blue Shield of Massachusetts that is committed to adding value through investments in new products, services and technologies that aim to improve the way healthcare is delivered and received. Zaffre focuses on companies across the healthcare landscape, with a primary focus on ACOs, consumer solutions, health information technology, and behavioral health. The firm is stage agnostic, considering a company’s financial and market positions, capabilities, and core values, as well as their missions and visions for the future. Zaffre employs a true partnership model for its portfolio companies, providing strategic direction, business support, industry connections and more.

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LifeImage scores $5 mln from Zaffre Investments

Atigeo raises $18.4 mln

Atigeo said Tuesday that it has raised an $18.4 million financing round, including an investment by Ascension Ventures. Bellevue, Washington-based Atigeo is a big data company. PRESS RELEASE BELLEVUE, Wash.–(BUSINESS WIRE)–Atigeo™, a compassionate technology company and developer of the xPatterns® big data analytics platform, today announced it has secured growth financing from Ascension Ventures. Atigeo also announced the appointment of Victor Kats, managing director at Ascension Ventures, to Atigeo’s board of directors. Ascension Ventures’ investment was part of a larger investment round of $18.4 million, which included both new and current investors. “Adding Ascension Ventures further aligns us as we continue building critical healthcare applications that enable enhanced patient care, operational efficiencies and mitigate risks,” said Michael Sandoval, founder and CEO of Atigeo. “We’re also very pleased to welcome Ascension Ventures managing director and healthcare veteran, Victor Kats, to our board of directors and believe his experience will contribute to the success of our healthcare offerings.” “We observed xPatterns’ ability to turn raw data from multiple sources, structured or unstructured, into highly relevant and accurate information that can be used by our limited partners for a variety of clinical, financial and operational use cases,” said Kats. “The total time for this process took days and weeks, not months and years, which is unique and disruptive in the world of healthcare analytics. We view Atigeo as being strategic to the healthcare industry at large.” Atigeo’s xPatterns platform quickly streamlines the most cumbersome steps in data science and analytics, and unlocks insights that decision-makers can use to anticipate and solve the most complex business problems. About Atigeo Atigeo is a compassionate technology company for a wiser planet. The xPatterns™ platform, Atigeo’s flagship big data analytics product, generates knowledge from all available data to deliver previously unforeseen insights, predict outcomes, and mitigate risks. xPatterns revolutionary analysis is localized, responsive, adaptive and automated, which means organizations can quickly deploy a solution, extend existing technology investments, broadly scale and apply learnings in a timely manner to solve the most complex business problems. Atigeo serves customers across healthcare, cyber, defense, energy, and financial services. Additional information is available at atigeo.com or on Twitter and LinkedIn. About Ascension Ventures Ascension Ventures (www.ascensionventures.org), launched in 2001, is a subsidiary of Ascension, the nation’s largest Catholic and non-profit health system. Ascension Ventures’ role is to construct and manage a strategic portfolio of investments that deliver venture-level investment returns, have the potential to transform the healthcare industry and significantly enhance the experience for patients, their families and their caregivers. Ascension Ventures has three venture funds with $550 million in committed capital under management. Its limited partners include Ascension, Catholic Health Initiatives, Decatur Memorial Hospital, Dignity Health, Intermountain Healthcare, Mercy and Trinity Health.

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Atigeo raises $18.4 mln