Insider Brief
- Avandra raises $17.75M to expand its federated medical imaging and clinical data network, enabling improved research and patient care through AI-driven insights.
- Backed by Aegis Ventures, SpringRock Ventures, and major health systems, the funding will support platform development, data partnerships, and commercial expansion with biopharma and researchers.
- Strategic partnership with Datavant enhances secure access to medical imaging data, addressing challenges in healthcare innovation, early diagnosis, and treatment development.
PRESS RELEASE — Avandra, the world’s largest federated network for medical imaging and clinical data, has announced it has raised $17.75 million to accelerate the use of imaging-centric data for research and patient care. The company was co-founded by Aegis Ventures along with Founder and CEO Ryan Tarzy. Aegis, a venture studio creating HealthTech companies in collaboration with leading health systems, is co-leading the financing with SpringRock Ventures. Memorial Hermann Health System and Northwell Health, founding members of the Aegis Digital Consortium, have also invested in the company, along with Kompass Ventures, Greater Ventures, Scott Gaines, and Dr. Mark Montoney. The capital will be used to further develop Avandra’s platform, expand its data network through partnerships with leading health systems and providers, and scale its commercial initiatives with biopharma and medical researchers.
Murray Brozinsky, Aegis Partner and former CEO of Conversa Health, will serve as Executive Chair of the Board. “We have very high conviction about the ability of real-world data to dramatically improve treatments, care plans, and equitable access for patients. And we believe health systems hold the keys to this future. Avandra is taking a novel approach to partnering with health systems to unlock this valuable data,” said Brozinsky. “We’re thrilled to be working with Ryan and his talented team to position Avandra as the go-to source for biopharma, medical researchers, and AI companies to enhance their research and development and make evidence-based treatments available to more people more quickly.”
Kirsten Morbeck, Managing Director of SpringRock Ventures, has also joined the Board, “We are excited to partner with Ryan and his exceptional team, along with Aegis Ventures. Avandra is empowering medical innovators and accelerating the future of medicine.”
Imaging represents an important class of healthcare data that contains tremendous value but oftentimes lies fallow in Picture Archiving and Communication Systems (PACS) because it’s difficult, costly, and time-consuming to access.
“Access to vast amounts of medical imaging linked to longitudinal data provides the last mile of medical AI and will enable countless medical breakthroughs,“ said Tarzy. “We estimate over 90% of imaging data research requests go unfulfilled because available solutions can’t meet the required inclusion and exclusion criteria. Our vision is to crawl, index, and make available 1 trillion images to bring forward the future of medicine and help deliver new treatments, earlier diagnosis, and better patient care. Our health system relationships and integrations give us a jumpstart on this mission.”
“Healthcare data has traditionally been siloed and underutilized,” said Feby Abraham, Executive Vice President and Chief Strategy Officer at Memorial Hermann Health System. “Our investment in Avandra reflects the growing need to organize and apply medical imaging data in a meaningful way. We believe high-quality imaging data supports innovation and empowers research that advances evidence-based and patient-centric solutions.”
“We fully support Avandra’s mission of unlocking medical imaging data for enhanced medical research and improved patient outcomes,” said Kate O’Donnell, Managing Director of Northwell Holdings at Northwell Health. “We look forward to the collaborations and innovations that will be created by this partnership.”
Avandra recently announced a strategic partnership with Datavant, a health data platform company focused on making the world’s health data secure, accessible, and usable. The collaboration enables the seamless integration of Avandra’s extensive federated network for medical imaging and clinical data into the Datavant ecosystem while ensuring patient privacy. The partnership supports Avandra’s trusted data exchange ecosystem and integrates multimodal last-mile data, including imaging and clinical data, into its network.
About Avandra
Avandra is creating the largest federated network for de-identified medical image data to overcome previously impossible medical challenges, bringing hope and medical breakthroughs that transform patient lives. Recognizing the vital role of medical imaging and clinical data in healthcare diagnoses and research, Avandra was established to organize the world’s medical images to advance research and innovation. Its network serves as a diverse data marketplace for biopharma, researchers, providers, and AI companies. To learn more about Avandra and its mission, visit www.avandraimaging.com.
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