Market Overview

Verana Health Raises $30 Million Series C Led by GV to Accelerate Innovation in Healthcare

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Company also announces seasoned healthcare executive Miki Kapoor as
CEO to develop leading specialty data platform

Verana Health, the developer of a cutting-edge platform for life science
innovation that utilizes regulatory-grade specialty data sets, today
announced a $30 million Series C financing led by GV (formerly Google
Ventures) with participation from existing investors Biomatics Capital,
Brook Byers, founder of Kleiner, Perkins, Caufield & Byers, GE Ventures,
and Lagunita Biosciences. In addition, Verana Health announced that
healthcare veteran Miki Kapoor has joined the company as President and
Chief Executive Officer.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180731005298/en/

Miki Kapoor, Newly Appointed President and Chief Executive Officer of Verana Health (Photo: Business ...

Miki Kapoor, Newly Appointed President and Chief Executive Officer of Verana Health (Photo: Business Wire)

Previously known as the mobile health company DigiSight Technologies,
Verana Health will use the funding to continue building its medical
informatics and technology team and to expand its platform. The Verana
platform combines real-world data from electronic health records (EHRs)
with advanced analytics to support rapid development of new
pharmaceuticals and devices, and also includes physician-facing
solutions to enable enhanced patient care. Verana's initial offering for
eye care derives insights from the American Academy of Ophthalmology's
IRIS® Registry, the largest specialty-specific clinical database in all
of medicine. The company plans to develop similar relationships with
other medical societies that will benefit from its specialty data and
analytics platform.

"Verana Health generates highly differentiated, deep clinical insights
for ophthalmology, creating significant new opportunities for patients,
physicians and the pharmaceutical industry at-large," said Dr. Krishna
Yeshwant, General Partner at GV. "With the strong technical backgrounds
and healthcare expertise of the executive team, the company is well
positioned to transform the way data is leveraged to further innovation
in eye care and other healthcare sectors."

Healthcare executive Miki Kapoor joins Verana to help accelerate the
company's growth and impact. Mr. Kapoor has two decades of experience
scaling healthcare data companies and working with healthcare
organizations in operations, policy, strategy, and finance. Most
recently, Mr. Kapoor was the CEO of Tea Leaves Health, a healthcare data
company focused on health system growth. He has also held roles as
President of Everyday Health and Head of the Global Payer/Provider
Division at IMS Health. Doug Foster, who served as CEO during the
company's formation and growth, will continue at Verana Health as the
company's Chief Strategy Officer, working closely with Mr. Kapoor on
corporate strategy, partnerships, and new product initiatives.

"Miki Kapoor is a healthcare leader with a proven track record of
building health data companies and growing them into global commercial
enterprises," said Brook Byers, Chairman of the Board at Verana Health.
"With this round of funding and Miki established as chief executive,
Verana Health is poised to offer its data-rich specialty platform to
advance patient care."

"Healthcare in the United States is evolving quickly in response to the
unprecedented availability of data," said Mr. Kapoor. "Verana Health has
assembled a group of leading healthcare investors with expertise in big
data applications, and a deep bench of talented, experienced healthcare
and technology professionals. I am excited to lead this team as we build
intelligent data solutions that provide actionable insights for industry
and physicians alike."

Verana Health began developing its specialty data platform in 2017, when
it was selected by the American Academy of Ophthalmology as its
exclusive partner for all commercial applications of the IRIS Registry.
Launched in 2014, the IRIS Registry features more than 50 million unique
patients in its database, representing 211 million patient visits and
billions of data points.

"The data collected in the IRIS Registry is a tremendous resource that
can be leveraged to advance patient care and scientific knowledge," said
Dr. David W. Parke II, Chief Executive Officer of the American Academy
of Ophthalmology, the world's largest association of eye physicians and
surgeons. "Working with Verana gives us the opportunity to realize the
potential of the IRIS Registry and protect patient sight by empowering
drug and device innovators and physicians through data insights."

About Miki Kapoor

Miki Kapoor is President and Chief Executive Officer of Verana Health.
With two decades of diverse experience exclusively in healthcare – in
operations, finance, strategy and policy – Miki Kapoor has a notably
broad perspective on the U.S. healthcare system.

Prior to joining Verana Health, Mr. Kapoor was CEO of Tea Leaves Health,
a software-as-a-service and healthcare data company focused on health
system strategic growth. He scaled the company over the course of three
years, leading to a strategic acquisition by Welltok in 2017. Previously
Mr. Kapoor was the President of Everyday Health, a publicly traded
company that he directed toward utilizing vast amounts of consumer and
medical data for effective patient and physician communication. Everyday
Health was acquired in a $465 million transaction by a strategic
acquirer.

Mr. Kapoor's experience also includes serving as Head of the Global
Payer/Provider Division at IMS Health, having joined as part of the $5
billion take-private transaction. This later resulted in the IPO of the
company, in what is considered one of the most successful and largest
turnarounds in healthcare private equity history. He has served as a
Senior Expert for McKinsey & Company and Executive Vice President,
Health Systems and Health Finance for the Clinton Foundation while
living in Africa and India. He started his career with almost a decade
on Wall Street as an investment banker focused on payers, providers,
healthcare information technology, and healthcare services.

Miki Kapoor attended graduate school at Yale University, where he
received both an MBA in Finance and an MPH in Health Policy. He is a
graduate of Washington University in Saint Louis, where he received a
bachelor's degree in biological sciences. He is a Fulbright Fellow,
formerly a visiting professor at two universities, and sits on the
boards of several healthcare organizations. He is passionate about
public and private healthcare and believes there are substantial and
achievable improvements that can be made to change the quality, access,
and cost equations for patients.

About Verana Health

Innovation in healthcare is hindered by the time and cost of bringing
new therapeutics and devices to market. Verana Health is building a
cutting-edge platform for life science innovation that utilizes
regulatory-grade specialty data sets. This platform initially utilizes
real-world data from the world's largest clinical database in
ophthalmology, representing billions of data points, to deeply
understand patient needs and to optimize drug and device development
from clinical research through to post-commercialization. To learn more,
visit www.veranahealth.com.

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