Vivify Health Secures Funding from Global Strategic Partners to Expand Use Cases for Remote Care
PLANO, Texas – November 25, 2014 – Vivify Health (“Vivify”) announced today that it has received Series B funding from strategic investors Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH) and Envision Healthcare Holdings (Envision) (NYSE: EVHC). Proceeds from the funding will accelerate development, delivery and broadening of Vivify’s patient engagement and remote patient monitoring solution designed to span the population health continuum. Vivify’s previous investors include Heritage Group and Ascension Health Ventures, whose limited partners encompass several of the largest health systems in the U.S. In connection with the investments, LabCorp will receive a seat on Vivify’s Board of Directors.
LabCorp is a global leader in laboratory services, clinical trials and medical diagnostics, providing knowledge services to enhance patient care. Through Beacon Laboratory Benefit Solutions® and Enlighten HealthSM, LabCorp’s capabilities include population health management tools, data analytics, decision support programs, personalized medicine and companion diagnostic testing, and genetic counseling. “We believe there are significant collaborative opportunities and synergies between LabCorp’s knowledge services and the tools that Vivify has introduced and continues to develop,” said David P. King, LabCorp Chairman and Chief Executive Officer.
Envision adds strategic value through their broad nationwide footprint of emergency and post-acute services, encompassing AMR, EmCare and Evolution Health. Through Evolution Health, an immediately scalable Medical Command Center is now in place nationwide, thereby providing simple turnkey remote care coordination options for Vivify customers. “Vivify’s platform simplifies the delivery of our clinical monitoring and in-home care services nationwide, and now we can support Vivify’s customers with the same services,” remarked Envision CEO, William Sanger. “Together we can efficiently manage remote care for clinical conditions, while improving outcomes and overall population health.”
Vivify’s SaaS-based solution delivers the next generation of patient engagement through its broad-based connected health platform, including fully-managed kits to simplify engagement for the highest risk populations. The platform will now be extended to include remote care solutions geared to consumers’ own mobile devices (BYOD) that include technologies such as native apps, web apps, interactive voice response and text messaging for all risk-stratified layers. Vivify’s current capabilities include customized care plans, interactive survey questions, biometric device integration, educational video content, and video conferencing. The solution accommodates a broad range of clinical conditions and seamlessly integrates with existing processes and information systems.
Vivify is deployed in several large health systems, incorporating customized clinical workflows and logistics services. Vivify’s groundbreaking and IRB-proven outcomes, ROI and simplicity are known throughout the healthcare industry. The company is now accelerating the delivery of these benefits beyond health systems. “With our new partners, Vivify will be uniquely positioned to scale the goals of our healthcare and payor customers,” said Vivify CEO, Eric Rock. “Our combined solutions and services will allow us to expand our value beyond traditional fee-for-service to at-risk models, completing all stages of population health. We are thrilled to have multi-billion dollar organizations joining us in our mission to change the way healthcare is delivered.”
About Vivify Health
Founded in 2009, Vivify Health was among the first companies to deliver remote care technology via the cloud and mobile devices (mHealth). Vivify quickly gained traction through partnerships, including AT&T, Ericsson, and investment from large health systems, via Heritage Group and Ascension Ventures. Vivify’s portfolio of patents pending has grown extensively, encompassing new methods and systems for connected health delivery, dynamic video scripting, healthcare incentives, medication adherence, mobile health device management and television-based user experiences.
The Vivify platform facilitates deep integration into EMR, Analytics and Population Health systems, including open APIs for real-time and bi-directional data exchange, enabling “the last mile of population health”. Features include mobile health apps (BYOD), interactive voice response (IVR), secure messaging (SMS), biometric device integration, virtual visits, clinical documentation, medication management and care coordination tools. Collectively, Vivify enables customers to advance overall population health,
optimize patient engagement, improve patient satisfaction, facilitate expansion of physician practice services, and achieve significant cost avoidance. For more information, visit www.vivifyhealth.com.
Certain statements and information herein may be deemed to be “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, and all statements (other than statements of historical facts) that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future, including the estimated revenues in this year of operation and expansion into additional markets. Any forward-looking statements herein are made as of the date of this press release, and Vivify undertakes no duty to update or revise any such statements. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in Vivify’s periodic filings with the Securities and Exchange Commission from time to time, including in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
This press release contains forward-looking statements including with respect to estimated 2014 guidance and the impact of various factors on operating results. Each of the forward-looking statements is subject to change based on various important factors, including without limitation, competitive actions in the marketplace and adverse actions of governmental and other third-party payers. Actual results could differ materially from those suggested by these forward-looking statements. Further information on potential factors that could affect LabCorp’s operating and financial results is included in the Company’s Form 10-K for the year ended December 31, 2013, including under the heading risk factors, and in the Company’s other filings with the SEC. The information in this press release should be read in conjunction with a review of the Company’s filings with the SEC including the information in the section of the Company’s Form 10-K for the year ended December 31, 2013 and subsequent Forms 10-Q under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.