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Murad was appointed last week, succeeding founding CEO Stephanie Tilenius
Last week it was announced that virtual cardiometabolic care provider Vida Health had raised a $28.5 million round of funding and appointed Joe Murad as its new CEO, succeeding founding CEO Stephanie Tilenius.
Before joining Vida, Murad most recently served as President and CEO of WithMe Health, a digital health company offering pharmacy benefits management and personalizing medication experiences for employers, employees, and their families. Before that he was President and CEO of PokitDok, a platform-as-a-service company for healthcare, prior to its acquisition by ChangeHealthcare. Murad has also held various leadership roles at Willis Towers Watson and served as Chief Operating Officer at Extend Health, and as Director of Business Development at eHealth.
Murad spoke to VatorNews about his vision for Vida and the opportunity he sees for the company's technology and future.
VatorNews: How did you first become involved with Vida Health? How long have you had a relationship with them?
Joe Murad: I’ve been working in healthcare technology for more than twenty years, leading companies like WithMeHealth, PokitDok and Extend Health. And, while I’m new to Vida, the company’s been on my radar for a long time. I’ve always been intrigued by Vida’s differentiated clinical care model with its pathways that can be layered, mixed, and matched to meet an individual’s needs. I think this unique approach presents us with a number of advantages in the dynamic and expanding cardiometabolic space. I'm excited to bring my expertise to Vida Health during this pivotal phase of the company’s growth.
VN: What was it about the company that made you want to lead it going forward?
JM: First, I believe in Vida’s mission to increase access to innovative treatments that improve patient outcomes at a lower cost. I also know of Vida’s track record for being progressive — for instance, we were the first to launch a step-therapy approach for GLP-1 prescribing. That’s what brought me to the table and the people at the company were super impressive, from the leadership team and the board, to our hardworking providers and behind-the-scenes staff who keep the platform running. I’m convinced that Vida has the potential to redefine virtual cardiometabolic care and improve the lives of millions, and I want to be part of that.
VN: What is the opportunity you see for Vida in the healthcare space? How do you plan on capitalizing on that?
JM: Vida has significant positive momentum and a growing book of enterprise and health plan customers. With cardiometabolic disease impacting approximately 40% of adults in the U.S., there’s significant demand for an offering that drives behavior change and mitigates the tremendous physical, mental, and economic impact of cardiometabolic disease.
VN: It said in the press release that the company plans to use the investment to pursue "ongoing growth opportunities," particularly in the GLP-1 market. Why are GLP-1 drugs exciting for Vida? How do they fit in your mission?
JM: There are a couple of reasons why the emergence of GLP-1 drugs has been an exciting development for Vida. Our unique GLP-1 step therapy approach not only helps patients better manage obesity, it also helps mitigate costs. We’ve heard from a number of our health plan customers and other plan sponsors that GLP-1s are already among the biggest cost drivers for their members, and the demand in the GLP-1 market is projected to reach $100 billion by 2030. We have the ability to address that need in a thoughtful and cost-effective way.
VN: How will Vida increase access to treatments? What will that entail?
JM: Some of America’s largest employers and health plans trust Vida to deliver meaningful cardiometabolic outcomes for their populations. We’re focused on scaling our business to bring the benefits of our comprehensive offering to more patients and employers around the country.
VN: How would you describe your vision for the company? Where do you want to see it in the next few years?
JM: This is an exciting time in Vida’s growth trajectory, especially with the rising demand for cost effective obesity treatment while still providing the potential for GLP-1 prescriptions. We’re focused on capitalizing on the significant momentum in our market, further scaling our platform, and pursuing growth opportunities with the ultimate goal of improving the lives of patients with cardiometabolic conditions.
VN: Is there anything else I should know about you or Vida or the news?
JM: I’m genuinely excited to be here. Vida has a highly committed, innovative team that’s been incredibly successful in its early stages. The team’s progress to date is impressive, and I’m privileged to work with them as we set our sights on taking Vida to the next level.
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