Chicago-based AVIA, which works with health systems on digital transformation, has acquired Panda Health to help expand the AVIA Marketplace platform and further support healthcare providers with their digital health strategies. 

AVIA Marketplace said it connects hospitals, health systems, and digital health innovators to accelerate adoption of the right solutions. 

Panda Health is also a marketplace that connects buyers and sellers of digital health technologies. Through its marketplace, Panda vets and assesses digital health technologies across dozens of categories and invites those suppliers that meet its functional, technical, and service requirements to participate in the marketplace. Health systems use the Panda marketplace to shop for and procure the technologies that meet their needs, and Panda assists with the selection, implementation, and ongoing contract management.

The Atlanta-based company was established in 2020 by founding health systems Gundersen Health System, CentraCare, ThedaCare and development partner Fitzroy Health. The company’s second round of funding was led by Vizient and included healthcare providers Bellin Health, BJC HealthCare, Dartmouth-Hitchcock, Ochsner Health, UW Health, Yale New Haven Health and technology partner CitiusTech. 

AVIA said combining its AVIA Marketplace and Panda Health entities represents a community of over 75% of the nation’s health systems and over 7,000 solution companies.

"The value of AVIA Marketplace is our community – you're leveraging the collective wisdom of hundreds of health system leaders and purchasers,” said Clay Holderman, CEO of AVIA, in a statement. “The addition of Panda Health to our platform just makes sense. We are the only healthcare technology navigator that was built by health systems for health systems.”

Kristen Flint, current CFO of Panda Health, will lead the combined offering as Senior Vice President, Marketplace. Panda Health CEO Ryan Bengtson will serve as an advisor to AVIA, the parent company of Marketplace.

AVIA said the joint organization will expand its capabilities with new insights, collaboration opportunities, and digital tools that anticipate the needs of a rapidly changing healthcare landscape. 

AVIA also recently launched Nexus Agentic AI, a platform designed to help health systems responsibly adopt agentic AI.