MDI Health has launched its end-to-end AI platform for personalized medication – poised to solve the fourth largest cause of world deaths, ‘medication-related problems’. The company also announced a $6M seed round, the first results of live clinical trials in Israel, and the launch of new pilots in the USA with one of the top three largest health insurers and top five largest health systems in the country.
To achieve its objective of being the mainstream medication management system of the future, MDI Health has secured a $6M investment round from a group of Venture Capital Funds, led by Hanaco Ventures, and joined by existing investors such as Fresh Fund, Jumpspeed VC, Basad Ventures and Arc Impact.
This brings its total funding to date to $7M. The investment will be used to further optimize its end-to-end AI personalized medication treatment platform, as well as enabling it to scale-up the business to support its aggressive growth in 2022.
The new MDI Health AI platform also represents a new lifeline in the quest to reduce expenditure in the global healthcare industry, with annual excess care costs associated with these events, estimated at $528 billion in the USA alone.
By reducing adverse drug-events, the AI platform can save the healthcare sector billions in costs associated with ER visits and hospital stays.
The company has also launched pilots in the USA with one of the top three largest health insurers and top five largest health systems in the country.