LifeImage said last week that it raised $17.5 million in a recently closed funding round.
The round was led by Portland, Ore.-based Cambia Health Solutions, a non-profit medical technology company, and joined by existing investors Cardinal Partners, Galen Partners, Long River Ventures, Mass Ventures and Partners Innovation Fund, the company said.
"Cambia is committed to investing in companies that transform the health care system into 1 that is person-focused and economically sustainable. We are excited to partner with LifeImage as they work towards their goal of providing universal and seamless access to medical images for both clinicians and patients,” Cambia Health senior vice president Rob Coppedge said in a press release.
Funding will be used to expand customer resources, increase network capabilities and implement the next phases of its go-to-market strategy, Newton, Mass.-based LifeImage said. The company develops and runs a cloud-based medical image sharing platform.
“Image sharing has reached a critical inflection point. Our customers have validated its correlation to quality and cost of care, and it’s now considered part of the standard of care. We’re excited to work with Cambia to increase the mainstream focus and adoption of medical imaging interoperability. With the added capital and Cambia’s support, LifeImage will scale up and demonstrate how innovative health plans can take advantage of our network to bring value to their providers as they adopt a value-based approach to managing the health of their patient populations,” CEO and co-founder Hamid Tabatabaie said in prepared remarks.
More than 120 multi-site health systems use LifeImage’s platform, including recently added Cedars-Sinai Medical Center in Los Angeles and Atlanta’s Emory Healthcare, the company said.