ObjectiveHealth Announces Strategic Growth Investment from Vitruvian Partners
NASHVILLE, Tenn.–(BUSINESS WIRE)–#centersofexcellence–ObjectiveHealth, a leading integrated specialty research network and technology company, announced today that it has secured a strategic growth investment from Vitruvian Partners, a leading global growth-focused investment firm.
ObjectiveHealth is an innovator in clinical research, seamlessly integrating clinical trials into the practices of physicians, while deploying proprietary advanced technology to identify and recruit patients for the trials. Vitruvian’s investment will provide the capacity for ObjectiveHealth 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,” said Colleen Hoke, co-founder and CEO of ObjectiveHealth. “We are delighted to have gained the partnership of Vitruvian, whose team has a wealth of knowledge in supporting the rapid growth in companies like 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 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.
“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.”
Austin Poole, partner at BIP Ventures, said, “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.”
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.”
As part of ObjectiveHealth’s continued expansion, in 2023 alone 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, in addition to gastroenterology, at its partnered research sites across the country.
About ObjectiveHealth
ObjectiveHealth is a leading integrated research provider, partnering with physicians and healthcare organizations on one side, and pharmaceutical companies and CROs on the other side, to establish an advanced infrastructure for research programs as a natural extension of patient care. The company takes an innovative approach that aims to improve patient outcomes by identifying clinical trial options for patients and their physicians at the point of care. Utilizing proprietary AI-driven technology and trained on-site personnel, ObjectiveHealth delivers significant advances in the facilitation of clinical trial recruitment and conduct of clinical research, benefiting clients and practice partners while providing broader care options for patients. With over 30 partnered programs across 16 states and more than 600 providers with more sites scheduled in 2024, ObjectiveHealth is poised for continued growth due to the realized value of its healthcare solutions for all stakeholders. To learn more, visit objective.health.
About Vitruvian Partners
Vitruvian Partners is an international growth-focused investor with offices across London, Stockholm, Munich, Luxembourg, San Francisco, Singapore and Shanghai. Vitruvian focuses on dynamic situations characterized by rapid growth and change across asset-light industries. Vitruvian has c.$16bn of active funds and is investing out of VIP V. The funds have backed many global winners and leaders in their sectors including: Just Eat, Skyscanner, Wise, CRF Health, KcasBio, Snow Software and Bitdefender. Further information can be found at www.vitruvianpartners.com.
ObjectiveHealth was advised by Nelson Mullins and OM Partners
Vitruvian Partners was advised by LEK, FTI, Cain Brothers and Milbank
Contacts
Jonathan Houghton
jhoughton@daltonagency.com
917-747-0260
