Long River Ventures' portfolio company lifeIMAGE has now exchanged over 1 billion medical images

over 500 hospitals have signed up so far

Amherst, MA – April 28, 2014 –  As one of the founding investors in lifeIMAGE, Long River Ventures is proud to announce two important milestones for this portfolio company.

In April, 2009, lifeIMAGE embarked on a mission to eliminate duplication of medical imaging exams to avoid $30 billion in annual costs, excessive and harmful radiation, and to promote faster, safer, higher quality care for patients everywhere. To fulfill this mission, lifeIMAGE builds and operates a network of cloud and Internet-based software that helps medical images from any source become part of patients’ records and provides physicians access to patients’ imaging histories conveniently, from any setting.

Five years later, lifeIMAGE is celebrating the growth of its network, which has expanded to connect 533 hospitals, and has been accessed by nearly 54,000 unique users.

●    The lifeIMAGE network is anchored by the largest health systems in the United States [WHAT NETWORK IS THIS? ISN’T NAMED … Partners Healthcare? ALSO, I don’t think the following stats are all that relevant. They are not about lifeIMAGE},
●    To date, the lifeIMAGE network has been used to exchange more than 1.1 billion images throughout all 50 states, and international referral sources have utilized the network from more than 90 countries. Its 54,000 user base represents nearly 16,000 active users who log into their secure and HIPAA compliant image sharing accounts regularly.

"The ability of cloud-based services to replace portable storage devices has revolutionized the way we access images. With lifeIMAGE we can now instantly import outside studies, which in turn helps us provide more thoughtful and efficient care,” said George Bisset, MD, Chief and Edward B. Singleton Endowed Chair of Pediatric Radiology at Texas Children’s Hospital and Professor of Radiology at Baylor College of Medicine.
 
"As a major Level I trauma center we are looking forward to our implementation of lifeIMAGE so that our ED physicians can view the images of patients being transferred before the patient arrives. This will help our ED better anticipate the immediate needs of these patients and reduce the need for performing repeat imaging," said Dr. Max Rosen, Chairman of Radiology at UMass Memorial Medical Center.

 “We are very proud of the accomplishments we have achieved in a relatively short period of time, and incredibly grateful for the opportunity to make a difference in the way our customers care for patients,” said Hamid Tabatabaie, founder and CEO of lifeIMAGE. “However, we’ll continue to behave as if our work has just begun. Our large network of providers has afforded us a unique opportunity, and we see it as our responsibility, to bring about an extensive record locator service, based on popular HIT standards, where our customers can form trusted relationships and further enhance access to patients’ imaging records.”

Will Cowen, Managing Director of Long River Ventures, said that “lifeIMAGE represents the type of company that exemplifies Long River’s portfolio, adding unique value in an important market and able to grow extremely rapidly because experienced management and key partnerships were established at the beginning.”

About lifeIMAGE

lifeIMAGE provides a broad set of solutions for universal e-sharing of diagnostic imaging information. These products securely connect hospitals, radiology groups and physicians to their patients everywhere and are currently deployed at many of the nation’s leading healthcare institutions and academic medical centers. The goal of the lifeIMAGE, recently named the top image exchange vendor by KLAS Research*, is to help avoid duplicate exams and eliminate unnecessary patient exposure to excessive radiation.
 
* “2013 Best in KLAS Awards: Software & Services,” January 2014. © 2014 KLAS Enterprises, LLC. All rights reserved.

About Long River Ventures

Long River invests in early growth stage IT and healthcare companies throughout the Northeast. Formed by a group of experienced entrepreneurs and venture capitalists, Long River is designed and structured to invest smaller amounts of capital with typical initial investments of $500,000 to $1 million. Long River has offices in Amherst and Boston and is currently investing from its third fund. For more information, visit the Long River Ventures website.