Toronto-based healthtech startup CorVista Health (formerly Analytics 4 Life) has raised a $65 million USD Series C round led by Ambix Life Science.
Ambix Life Science Fund I led the equity financing round, which also saw participation from MedVenture Partners. The fresh capital brings the company’s total funding to date to $100 million USD.
CorVista plans to use the new capital to accelerate product development and fund clinical research.
CorVista Health claims its artificial intelligence (AI)-powered platform allows physicians to rapidly test for heart disease. The company plans to use the new financing to accelerate the development of its point-of-care cardiac diagnostic platform, CorVista System, and fund ongoing clinical research.
“There has never been a more critical need for point-of-care diagnostic modalities that provide rapid testing for cardiac patients,” said Don Crawford, CEO of CorVista Health.
“This latest round of funding has put us in a position to offer assistance with the current healthcare crisis by providing physicians a non-invasive solution for the diagnosis of heart disease,” the CEO added.
The company, which applies machine learning and AI to real-world test data, aims to transform cardiovascular care and the patient experience. CorVista Health said its solution allows physicians to “evaluate heart function without radiation, contrast agents, injections, fasting, or exercise.”
CorVista Health was founded in 2012 as Analytics 4 Life, and raised a $25 million USD Series B in 2017.
In December 2020, Analytics 4 Life rebranded to CorVista Health, and appointed Scott Burger as the company’s chief commercial officer and vice president. Burger helped lead the startup’s rebrand, which the company said reflected its “evolution from an early-stage medtech startup to a digital health company.”
“With the investment proceeds, CorVista Health will accelerate product development for the CorVista System and scale its infrastructure ahead of commercialization,” said the company.
CorVista Health also plans to ramp up its clinical research, which aims to enable its platform to check for coronary artery disease, as well as elevated left ventricular end diastolic pressure and elevated mean pulmonary artery pressure, which it called “hallmarks of heart failure and pulmonary hypertension, respectively.”
“We believe the CorVista System has the potential to reduce the burden on both patients and the healthcare system,” said Peter Townshend, managing member of Ambix Venture Management.
“CorVista Health has the potential to advance the way heart disease is diagnosed and managed,” he added.