Covera Health Announces Series A Financing of $8.5 Million to Drive Continued Growth

NEW YORK–(BUSINESS WIRE)–Covera Health, the country’s leading provider of analytics-based
programs to reduce medical misdiagnoses and improve quality of care,
announced today that it has closed $8.5 million in Series A funding.

The financing was led by Equity Group Investments (EGI), the private
investment firm led by Sam Zell. “EGI, with their flexible capital base
and strong sense of engagement, is an ideal partner for us,” said Ron
Vianu, CEO, Covera Health.

The round also included select strategic and individual investors.

Covera Health plans to use the proceeds to deepen existing clinical
partnerships, invest heavily in its research and development efforts
around quality analytics, as well as establish new relationships with
various clinical and data partners. In addition, the Company also
intends to use the capital to support several growth initiatives,
accelerate product development, and further build out its data science,
engineering, and sales teams.

“An accurate diagnosis is fundamentally important for formulating the
right treatment plan. That is why we started in radiology. All too
often, patients are misdiagnosed at this pivotal juncture in their care,
hindering their ability to get better,” said Ron Vianu. “Our approach to
improving outcomes is premised upon partnering with providers to better
understand how to measure and deliver quality care, ensuring each and
every patient has the best opportunity for recovery,” added Vianu.

About Covera Health

Covera Health is on a mission to improve patient care by partnering with
doctors to advance how quality care is defined, measured, and delivered.
Starting in radiology, Covera Health leverages advanced data analytics
to build Radiology Centers of Excellence Programs for employers, health
plans, and other healthcare entities to reduce misdiagnoses, improve
patient outcomes, and reduce medical costs. Covera Health’s solution is
deployed in almost every state across the U.S. and leveraged by over one
million covered lives. For more information, please visit www.coverahealth.com.

About Equity Group Investments

Equity Group Investments (EGI) is the private investment firm founded by
Sam Zell 50 years ago. Based in Chicago, EGI invests opportunistically
across industries and geographies and throughout the capital structure.
Current portfolio investments are in energy, waste, manufacturing,
transportation and logistics, media, healthcare, insurance, and real
estate. EGI provides flexible capital and employs an engaged ownership
approach to maximize the potential of its investments. For more
information, visit egizell.com.

Contacts

Media:
Jennifer Newman
jnewmanny@gmail.com

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