Covera Health Closes $50M Additional Series C Financing
Covera Health has closed up to $50 million additional Series C financing led by Insight Partners and completed the acquisition of CoRead, a leading AI quality assurance company used by more than 2,000 hospital sites nationwide.
CoRead is at the forefront of generative AI focused on performance improvement in radiology, and its capabilities will be integrated into Covera Health’s existing world-class quality platform. Lawrence Ngo, former CEO of CoRead, will join Covera Health as Senior Vice President, Quality Assurance Platform, reporting to President Aaron Friedkin.
The additional funding and acquisition will enable Covera Health to rapidly expand and scale its two-way marketplace between payers and providers. Providers will gain access to comprehensive quality insights across a broader range of radiology studies and pathologies, enhancing their quality improvement and peer learning activities. At the same time, employers and their health plans will use these insights to improve their network and care management programmes, ensuring better patient care and outcomes while reducing the costs and harms associated with misdiagnosis.
More than 1,300 imaging exams are performed every minute in the US, serving as the backbone of our healthcare system and central to a patient’s diagnosis, yet their impact is often underestimated. Improving the industry’s ability to quantify and improve diagnostic quality is critical to both improving patient outcomes and ensuring that providers are reimbursed for the value they deliver,” said Ron Vianu, Founder and CEO of Covera Health.
