Partnership will enable 150+ sites in 22 states to accept patients for respiratory clinical trials involving precision imaging
CORALVILLE, Iowa – Oct 26, 2022— VIDA Diagnostics, Inc. (VIDA), the leader in imaging intelligence, has partnered with Wellspring Capital-backed RAYUS Radiology, a leading national provider of advanced diagnostic and interventional radiology, to onboard more than 150 locations as clinical trial imaging sites. Precision quantitative imaging is increasingly being leveraged by therapy developers in clinical trials; however, trial sites can be challenged by the demands of high-quality image acquisition and data management associated with trial imaging. VIDA and RAYUS are teaming up to address these challenges for imaging sites so they can participate in imaging-based clinical trials with greater ease.
"To accelerate commercialization and improve patient access to clinical trials, pharmaceutical companies are increasingly relying on clinical trial decentralization, providing access for participants beyond major urban centers," said Amy Garrigues, Chief Strategy and Development Officer for RAYUS Radiology. "Thanks to our partnership with VIDA, we can provide an immediate boost to this effort across 22 states, bringing clinical trial level imaging together with disciplined data stewardship and operational oversight."
Each of RAYUS's 150+ locations will be able to connect to the VIDA Intelligence Portal, allowing for deeper data analysis, insights, and operational ease of imaging trials. Through VIDA's portal, hundreds of staff across these locations can be trained on and guided through protocols required for the data quality demands of imaging-based clinical trials. After certification, sites can engage with clinical trial sponsors and begin qualifying and onboarding trial participants.
"This partnership is a win for all parties, enabling VIDA to expand our network of certified imaging sites for sponsors, providing RAYUS additional clinical trial opportunities, and giving patients greater accessibility to clinical trials," said Susan Wood, Ph.D., VIDA's president & CEO. "Most importantly, together we are addressing a major gap in the still too costly, inefficient and time-consuming drug development process – site location and convenience to patients, trial site capacity, consistency, and effectiveness. This partnership will help bridge the gap and accelerate new life enhancing therapies for patients."
About RAYUS Radiology
RAYUS Radiology is the nation's leading subspecialty practice for advanced diagnostic and interventional radiology, with a network of imaging centers, hospital partnerships and short- and long-term hospital solutions. The organization, with more than 3,000 team members nationwide, is committed to delivering clinical excellence in communities across the United States, driven by its affiliated subspecialized radiologist network; compassionate, safe and cost-efficient care; and superior service to referring providers and patients. For more information, visit www.RAYUSradiology.com.
About Wellspring Capital Management
Wellspring Capital Management is a leading private equity firm headquartered in New York. Since its founding in 1995, Wellspring has raised over $4.5 billion of initial capital commitments through six private equity funds. In total, Wellspring's current portfolio companies employ nearly 60,000 people around the world and generated aggregate revenues in excess of approximately $4.5 billion in the last 12 months. Over the past 25 years, Wellspring has invested in over 45 platform investments across various segments of the U.S. and global economies. Wellspring's objective is to bring partnership, experience and value creation to each investment. By teaming up with strong management, Wellspring seeks to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. The firm functions as a strategic partner, providing management teams with top-line support, M&A experience, financial expertise and access to resources. For additional information, please visit www.wellspringcapital.com.
About VIDA Diagnostics, Inc.
VIDA is an imaging intelligence company, accelerating therapies to patients through AI-powered precision biomarkers. With precise quantitative endpoints and its trial orchestration platform, VIDA Intelligence Portal, VIDA is helping biopharma sponsors save millions in drug development costs. In addition, VIDA Insights™ empowers physicians to better manage patients with or at risk of chronic obstructive pulmonary disease (COPD), interstitial lung disease, asthma, emphysema, lung cancer, and COVID-19. VIDA's software is FDA cleared, CE-marked, Health Canada licensed, TGA registered, and PMDA certified for clinical use in the U.S., European Economic Area, Canada, Australia, and Japan. Learn more at https://vidalung.ai. Follow @vidalung on Twitter and LinkedIn.