RIVANNA Expands Albemarle County, Virginia, Operations
The company has experienced a rapid increase in sales and formed new strategic partnerships with multi-national biotechnology leaders. RIVANNA was also recently awarded several significant federal grants and contract awards, including a contract from Biomedical. Under the contract, the Biomedical Advanced Research and Development Authority will provide $11.6 million over 24 months with options for additional funding to support further development up to $65 million.
“The Virginia Economic Development Partnership has been an important resource throughout our company's growth, marked by our recent expansion to a larger facility in Albemarle County,” said RIVANNA co-founder and CEO Will Mauldin, PhD. “We appreciate the commitment from the Virginia Job Investment Program as we hire additional personnel and scale RIVANNA's manufacturing capacity to hit design and development milestones related to our next-generation Accuro product platforms. The local biotech community and state and local agency relationships continue to be an instrumental part of RIVANNA’s success story and positively affect our mission to elevate the global standard of care.”
The Virginia Economic Development Partnership (VEDP) worked with Albemarle County and the Central Virginia Partnership to secure the project for Virginia and will support RIVANNA’s job creation through the Virginia Jobs Investment Program. The program provides consultative services and funding for companies creating new jobs to support employee recruitment and training activities. As a business incentive supporting economic development, the Virginia Jobs Investment Program reduces the human resource costs of new and expanding companies. The program is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for citizens.
“RIVANNA’s medical imaging solutions have the potential to significantly improve human health and longevity, and we are proud to have this innovative company expand in the Commonwealth,” said Secretary of Commerce and Trade Brian Ball. “Albemarle County offers world-class higher education institutions, research assets, and a skilled talent pipeline to support RIVANNA’s mission, and we look forward to our continued partnership with the company.”
Founded in 2010 by graduate students at the University of Virginia and headquartered in Charlottesville, Virginia, RIVANNA is elevating global standards of care through the development and commercialization of imaging-based medical technologies, including BoneVision and BoneEnhance, which optimize ultrasound image acquisition and visualization to provide radiation-free alternatives to X-ray-based imaging modalities. When paired with SpineNav3D™ AI-Enabled Image Recognition technology, these products offer comprehensive clinician-assistance solutions that improve decision-making, clinician workflows, health outcomes, and patient satisfaction.
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