Israeli medical informatics start-up dbMotion Ltd. today announced a large $35 million combined contract with the University of Pittsburgh Medical Center (UPMC). The contract has an option to expand to $45 million.
UPMC will buy dbMotion’s medical informatics platform, invest in the company, and set up a joint development fund. The bulk of the contract is for the purchase of the company’s platform for installation at UPMC’s 19 hospitals and 400 clinics.
This is one of the largest recent contracts by a private Israeli high-tech company. “Globes” recently names dbMotion as one of Israel’s ten most promising start-ups. It also won Microsoft Corp.’s (Nasdaq:MSFT) MS-HUG award for the second year.
Originally called Ness-ISI, dbMotion was founded by chairman Benny Levin, CEO Yuval Ofek, and CTO Ziv Ofek in 1996 in southern Israel as a small spin-off of Ness Technologies (Nasdaq: NSTC). Two years later, it began developing a medical information system. In 2004, the company became independent from Ness Technologies, and subsequently raised $22 million from Gemini Israel Funds, Pitango Venture Capital, and Vertex Venture Capital.
dbMotion’s information platform for medical centers makes it possible to integrate different medical information systems to create a comprehensive medical picture about a patient.
Published by Globes [online], Israel business news - www.globes.co.il - on October 19, 2006
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