Vida Diagnostics receives $1 million investment from UnityPoint Health Ventures

UnityPoint Health's Iowa Methodist Medical Center in Des Moines.

Coralville-based VIDA Diagnostics today announced a $1 million investment and strategic partnership from UnityPoint Health Ventures.

UnityPoint Health and VIDA will partner to develop and commercialize VIDA’s AI-powered lung analysis solutions, LungPrint, a fully automated AI-powered analysis of inspiratory chest CT scans.

“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, in a press release. “Together we are able to broaden access to our game-changing solutions and deliver exceptional patient care.”

The partnership provides VIDA with access to Unity Point Health’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.

UnityPoint Health announced in May the launch of a $100 million venture fund that will manage and direct the company’s financial and strategic investment opportunities.

“At UnityPoint Health, we’re dedicated to making it easier to live well,” said Matthew Warrens, Managing Director of 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 funds from the Iowa Economic Development Authority, adding to IEDA’s previous financial support of VIDA.

“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,” said Debi Durham, Director of the Iowa Economic Development Authority and Iowa Finance Authority.

Previous coverage

UnityPoint Health launches $100 million venture fund -May 23, 2019

IEDA awards funding to four startups -May 21, 2019