Portfolio News: ObjectiveHealth Announces a Strategic Growth Investment from Vitruvian Partners

Portfolio
Press Release

On January 26, 2024, leading integrated specialty research network and technology company ObjectiveHealth announced it had secured a strategic growth investment from Vitruvian Partners.

A BIP Ventures portfolio company since 2021, ObjectiveHealth is an innovator in clinical research. The company seamlessly integrates clinical trials into specialty physician practices and community health centers while deploying proprietary advanced technology to identify and recruit patients for the trials. Through this model, ObjectiveHealth brings clinical research to the point of care and breakthrough medicine to Main Street. They have expanded the scope of clinical trials and helped to diversify testing groups, preventing overly-homogenous clinical testing results, which can have downstream effects on the population.

A Strong Investment in Growth

With an investment from leading global growth-focused investment firm Vitruvian, ObjectiveHealth gains greater capacity to expand its operations and continue its rapid pace of growth.

“As we move into the age of precision medicine, clinical research will be increasingly vital to the future of healthcare, and at ObjectiveHealth, we’re uniquely positioned to provide needed solutions for modernizing and elevating the trial process. We are delighted to have gained the partnership of Vitruvian, whose team has a wealth of knowledge in supporting the rapid growth of companies like ObjectiveHealth.” (Colleen Hoke, co-founder and CEO of ObjectiveHealth)

“These are exciting times for clinical research, and ObjectiveHealth is at the forefront of delivering a new research model that helps address some of our industry’s biggest challenges while supporting our physician partners in bringing new care solutions to patients in communities we serve,” adds Dr. Don Lazas, co-founder and chief medical officer at ObjectiveHealth. “We’re grateful for Vitruvian’s support as we undertake the next phase of our company’s expansion.”

ObjectiveHealth’s proprietary AI-driven technology leverages patient electronic health record (EHR) data and the provider schedule to quickly identify candidates for specific clinical trials while providing a platform to manage trial workflow more efficiently. Along with trained research coordinators located in the footprint of partner practices, ObjectiveHealth offers clinical trials as a natural extension of the patient care process, creating centers of excellence in community-based specialty practices.

“It has been a privilege partnering with Colleen, Don, and the ObjectiveHealth team to expand the reach of and access to clinical research through their novel approach to partnership with specialist physician practices and community health centers. We look forward to continuing that journey and are excited to see the impact of the knowledge and expertise that the Vitruvian Life Sciences & Healthcare team brings alongside their investment.” (Austin Poole, BIP Ventures General Partner)

In 2023, as part of ObjectiveHealth’s continued expansion, the company:

  • Opened its 30th research center of excellence in Amarillo, Texas
  • Launched ObjectiveScreen, an AI-powered feasibility and recruitment platform to optimize clinical trial performance
  • Unveiled ObjectiveView, a technology portal that provides the sponsors of clinical trials with an unprecedented level of transparency into the process
  • Continued to expand its research portfolio into dermatology, urology and oncology, and gastroenterology at its partnered research sites across the country

“Under Colleen and Don’s leadership, ObjectiveHealth has built an innovative and disruptive platform for advancing clinical research,” said Sophie Bower-Straziota, partner at Vitruvian. “As clinical research continues to converge with healthcare, we believe our investment will give ObjectiveHealth the resources to further develop its technology, broaden its reach into new regions and deliver more treatment options for patients.”

Christopher Booker, partner at Frist Cressey Ventures, said, “Welcoming Vitruvian further validates ObjectiveHealth’s novel clinical research model. They are the perfect partner to support the next phase of growth for the company.

We are thrilled to continue our partnership with ObjectiveHealth as part of our ongoing commitment and belief in their impact and success – we anticipate the company will build on its existing momentum.

Read the release on the wire.

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