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Friday, September 3, 2010
Medical imaging startup Life Image raises $5.2M
By Mass High Tech staff
MHT's Emerging Technologies Forum: Health IT and the Cloud
Health care industry eyes iPad
Life Image Inc. has added $5.2 million in a new financing, according to a report published late Thursday.
With the financing, part of a planned $10 million Series B round led by new venture capital investor Cardinal Partners of Princeton, N.J., the Newton health IT startup has raised $12 million, co-founder and CEO Hamid Tabatabaie told Xconomy, which first published news of the financing.
Life Image, which makes software for Internet-based exchange of medical images, was founded in 2008. The company's most recent reported financing was a $2.2 million extension to its Series A round, disclosed in a regulatory filing in January.
Tabatabaie was previously CEO of Amicas Inc., a Boston developer of web-based diagnostic image software that sold to VitalWorks Inc. of Ridgefield, Conn. for $65 million in 2003.
According to Xconomy's report, previous investors returned to participate in the round, including Long River Ventures, Massachusetts Technology Development Corporation and Partners Innovation Fund.
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