Israeli medication optimization company MDI Health has completed a $20 million Series A financing round led by Intel Capital with participation from Maverick Ventures Israel and existing investors Hanaco Ventures, Welltech Ventures, Arc Impact, Basad Ventures, Fresh.Fund, Jumpspeed Ventures and former SVP of Optum Richard Montwill. This brings the amount raised by MDI Health to $26 million.
The new funding will enable MDI Health to meet rising customer demand and expand its US and Israeli R&D teams to further product development.
MDI Health has developed an AI-powered platform that automates the optimization of personalized medication treatment, at scale, which is equipping clinicians with the technology to prevent adverse drug reactions, which are the fourth leading cause of death in the US, resulting in over 270,000 deaths each year.
MDI Health says that current medication management solutions are largely alert-based, focusing on drug interactions and requiring laborious processes. In contrast, MDI Health's AI medication management platform is autonomous and hyper-personalized. The platform analyzes thousands of influencing factors to identify medication-related risks - and provides a recommendation to mitigate such risks - in a matter of minutes, driving significant cost savings and improved health outcomes at scale.
MDI Health was founded in 2019 by CEO Avishai Ben-Tovim, chief scientist Dr. Dorit Dil Nahlieli and CTO Yuval Kalev.
Ben-Tovim said, "MDI Health is driven by our mission to help end the preventable suffering of patients caused by an outdated one-size-fits-all approach to medication treatment. The ongoing support and new funding from our investors equips us with the fuel we need to accelerate that mission."
Published by Globes, Israel business news - en.globes.co.il - on February 14, 2023.
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