Blue Heron Announces Investment in VIDA

Blue Heron Capital Invests in Leading AI-Powered Lung Imaging Analysis Technology

blue heronBlue Heron Capital, a Richmond, Virginia-based growth equity fund, announced today its participation in an $11 million investment round in VIDA Diagnostics, Inc. (“VIDA” or the “Company”) alongside investors First Analysis and UnityPoint Health.

Headquartered in Coralville, Iowa, VIDA is a clinical AI company using imaging-based technology to uniquely profile and manage a patient with or at risk of lung disease.  The Company’s platform is powered by a unique combination of artificial intelligence and quality-controlled image analysis services, providing medical practitioners with greater precision and personalization across a range of lung diseases including cancer, emphysema, airway obstructive diseases, asthma and interstitial disease.

“We are driven to continuously raise the standard of care for patients with or at risk of lung disease.  With this Series C financing, VIDA can now accelerate market access, further connecting its benefits to the many millions of patients with lung disease,” said Susan A. Wood, Ph.D. and CEO for VIDA.  “We are thrilled about the opportunity to partner with Blue Heron Capital and their deep network of operators to bring needed market change.”

“Core to our investment strategy, we will leverage our world-class operator network to help VIDA accelerate their already impressive growth,” said Tom Benedetti, Partner at Blue Heron Capital.  “To support Susan and her team, we have enlisted the talents of our experienced operators, Dr. Dick Hamrick and David Hunt,” he added.

Dick Hamrick, MD, brings years of clinical expertise as a practicing pulmonologist and served as the former CMO at HCA Virginia Health System and HCA Capital Division.  “VIDA’s artificial intelligence solution applied to radiologic images improves quantitative analysis” said Dr. Hamrick.  “When you combine this solution with the judgment delivered by trained radiologists and specialists, overall accuracy improves and enhances the diagnosis of lung diseases.  This powerful combination is better than either humans or machines can do separately.  Already widely used in the world of clinical trials for drugs and device manufacturers, VIDA is poised to become the most trusted pulmonary imaging reference,” he added.

David Hunt, the CEO of Ensemble IP and former owner of Landon IP, brings more than 30 years of business experience as an entrepreneur.  Hunt has expertise in many applications of artificial intelligence and machine learning technologies.  “VIDA is redefining how physicians diagnose and treat pulmonary ailments and diseases” said Mr. Hunt.  “The Company’s technology is certain to improve medical care and reshape the industry.  It is exciting to see VIDA successfully implement real innovation to benefit doctors, patients, and providers in the coming years.  I am thrilled to be a part of their exciting future.”