Health IT, Startups

Medical image sharing co. lifeIMAGE raises $17.5M to scale business

Medical image sharing business lifeIMAGE has raised $17.5 million to help scale the company.

Image sharing business lifeIMAGE has raised a fresh round of capital to support its expansion. Cambia Health Solutions led the $17.5 million financing round. LifeIMAGE will apply the funding towards expanding resources for its customer base, boosting its network capabilities and implementing the next phases of its go-to-market strategy, according to a company statement.

The corporate investor was joined by established investors, according to a company statement. They included Cardinal Partners, Galen Partners, Long River Ventures, Mass Ventures, and Partners Innovation Fund.

The SaaS business developed a way to help patients seeking second opinions share diagnostic images as well as physicians seeking consults. In 2013, the business, led by co-founder and CEO Hamid Tabatabaie, raised $15 million.

Tabatabaie said in the statement that image sharing has gained acceptance to the point where “it’s considered part of the standard of care.” He said it was looking forward to working with Cambia “to increase the mainstream focus and adoption of medical imaging interoperability.” He added that the company would use the funding to scale up its business.

It works with 120 multi-site health systems that include academic medical centers, pediatric facilities, certified trauma centers, and oncology centers.

In a statement it noted recent additions to its customer base included Cedars-Sinai Medical Center in Los Angeles, City of Hope, and Children’s Hospital of Orange County, all in California, It also added Emory Healthcare in Atlanta, University of Texas Southwestern Medical Center, Baptist Health Jacksonville and Bayfront Medical Center (in Florida, and University of Iowa Hospitals & Clinics.

Medical imaging has historically been one of the largest healthcare costs, particularly because of duplication of diagnostic imaging tests. Image sharing is expected to drive down this cost by making it easier to do virtual consultations, make referrals more efficient.

Photo: BigStock Photo

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