LifeImage raises $5m, gains new clients

LifeImage said today it received a $5 million investment from Zaffre Investments and has added 7 new providers to its list of clients.

Zaffre Investments serves as the investment arm of Blue Cross Blue Shield of Massachusetts, Newton, Mass.-based LifeImage said.

“Health providers and health plans are both seeing significant value associated with image sharing. Physicians need to be made aware of when their patients’ imaging tests become available, even when they are performed outside their health system. We continue to build out and enhance this intelligent, interoperable health data network and are excited to expand our strategic partnerships with industry leaders who share in our vision,” CEO Hamid Tabatabaie said in prepared remarks.

LifeImage produces and manages an interoperable medical image sharing network for healthcare providers and hospitals, the company said. More than 120 health systems have adopted the company’s platform.

“Technology has the ability to reduce unnecessary and duplicative testing and images, and will lead to long-term improvement in both care delivery and patient outcomes here in Massachusetts, and beyond. LifeImage represents technology that we believe enables these goals and makes it easier for patients to navigate the health system,” Zaffre Investments managing director Tuoyo Louis said in a press release.

LifeImage said Cedars-Sinai Medical Center, Baptist Health of Jacksonville, Children’s Hospital of Orange County, City of Hope Cancer Center, Emory Healthcare, Children’s Hospital of Wisconsin, North Mississippi Medical Center and Valley Children’s Hospital signed up with the company.

In May, LifeImage said it raised $17.5 million in a recently closed funding round.

The round was led by Portland, Ore.-based Cambia Health Solutions, a non-profit medical technology company, and joined by existing investors Cardinal Partners, Galen Partners, Long River Ventures, Mass Ventures and Partners Innovation Fund, the company said.

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