Israeli medical device security co Medigate raises $30m

Medigate founders  / Photo: Medigate

Medigate will use the funds to further its vision of becoming healthcare’s security and clinical analytics company.

Globes correspondent Israeli IoT and medical device security and asset management company Medigate today announced the completion of a $30 million Series B financing round led by new investor Partech and with the participation of existing investors YL Ventures, US Venture Partners (USVP) and Blumberg Capital as well as Maor Investments. This brings to $50 million the total amount raised by Medigate, including a Series A round completed in 2019.

Medigate will use the funds to further its vision of becoming healthcare’s security and clinical analytics company.

The company was founded in 2017 by CEO Jonathan Langer, VP R&D Itay Kirshenbaum, and VP Product Pini Pinhasov. The three met during their army service in an IDF intelligence unit. The company has 90 employees including 60 in Israel and the remainder in the US and Europe.

Langer said, "Our aim is to consolidate strategic partnerships with hospitals and help them take decisions based on data on whether to procure medical deevices and how to optimize their existing devices instead of the hospital making decisions based on feelings. The subject of improving efficiency has become all the more relevant following Covid-19 with hospitals in the US and also in Israel making large losses."

Medigate’s solution addresses patient safety and privacy by automatically locating, identifying and managing the security posture of all devices connected to the network, in addition to powering clinical engineering with the device data they’ve never had available before to manage their fleet of medical devices. Medigate has continued its tremendous growth by demonstrating how comprehensive device data leads to new ROI and cost savings in healthcare delivery organizations around the world, from the largest health systems to specialty hospitals.

en.globes.co.il - on September 15, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Medigate founders  / Photo: Medigate
Medigate founders / Photo: Medigate
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