The company raised $7, according to Crain’s Chicago Business. 2 million, led by Froedtert, a hospital system based in Milwaukee Other investors included Rush University Medical Center, Peoria-based OSF Healthcare, Providence Health & Renton Services, Wash. St and St. Luke University Health Network, Bethlehem, Pa. Like Chicago-based venture funds, Jump Capital and Jumpstart Ventures Avia raised $6 million two years ago
Avia has grown to 22 members, large hospital systems that pay the firm strategic advice and to screen potential new technology or innovation partners that can help control costs, improve treatment and increase revenue. ‘Health systems are really getting to grips with it and are serious about transforming their businesses,’ says Founder Eric Langshur.
In two and a half years, the company has grown from 10 to 36 employees. With the new investment, Avia plans to double its headcount in the coming year. Its members operate more than 350 hospitals, up from about 70 years ago.
Avia connects the nation’s largest hospitals with startups. The pitch for both is that it can dramatically reduce the time it takes for them to find the right partners and get down to business. ‘We start with their strategic plan and business issues, and we’re developing a road map,’ Langshur said. ‘How do we help them compress time and make it more efficient?’
He points to a recent case in which a large health system and a technology start-up make the hospital a tool to communicate with patients after they have been discharged from the contract in two months. ‘This is remarkable for health care,’ Langshur said.
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