Rcadia Medical Imaging raises $3.3m

Rcadia Medical Imaging Ltd. has closed a $3.3 million financing round led by US fund BioVentures Investors. Current investor, 20/20 HealthCare Partners, also of the US, participated in the round.

Haifa-based Rcadia was founded in 2005 and had raised $2.7 million prior to the present round. The company has developed the COR Analyzer software for the automated analysis of coronary CT angiography, which enables rapid and effective triage of chest pain identifying patients who need further evaluation for severe coronary artery disease. The system can speed up diagnosis, enabling appropriate treatments and avoiding unnecessary delays for patients without coronary artery disease.

Rcadia president and CEO Shai Levanon said, "Developments in medical imaging and the growing need for advanced automated diagnostic tools has created fertile ground for the success of our technology. We will use the capital raised to set up a US office to support North American sales and marketing."

Rcadia's CO Analyzer has been installed at ten locations worldwide, including teaching hospitals and private clinics. The Carmel Hospital in Haifa installed the system at its radiology department.

Published by Globes [online], Israel business news - www.globes-online.com - on December 15, 2008

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