MDI Health, a Los Angeles, CA-based AI-powered platform that automates the optimization of personalized medication treatment, at scale, raised $20 million in Series A funding, bringing the company’s total financing to $26 million.
The round was 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 Richard Montwill (former SVP of Optum).
The funding will allow MDI Health to meet rising customer demand and scale its U.S. and Israeli R&D teams to drive product development.
The company is equipping clinicians with the technology they need to prevent adverse drug reactions, which are the fourth leading cause of death in the U.S., resulting in over 270,000 deaths each year.
MDI Health's AI medication management platform is autonomous and hyper-personalized. It analyzes thousands of influencing factors to identify medication-related risks - and provides a recommendation to mitigate such risks - in a matter of minutes instead of hours, driving significant cost savings and improved health outcomes at scale.
As part of the funding, Intel Capital Investment Director Yoni Greifman will join MDI Health’s board of directors.
Company: MDI Health Technologies Ltd.
Raised: $20.0M
Round: Series A
Funding Month: February 2023
Lead Investors: Intel Capital
Additional Investors: Maverick Ventures Israel, Hanaco Ventures, Welltech Ventures, Arc Impact, Basad Ventures, Fresh.Fund, Jumpspeed Ventures, and Richard Montwill
Company Website: https://www.mdihealth.com/
Software Category: AI Medication Management Platform
About the Company: MDI Health was founded in 2019 to combat the increasing number of deaths and costs associated with adverse drug events. MDI’s end-to-end medication treatment platform empowers clinicians to provide comprehensive medication reviews in minutes instead of hours. The solution checks, in real-time, for personalized medication-related risk events, ensure patients have the exact medications they need, and enable health payers, providers, and pharmacies to improve patient outcomes, medication safety, and hospitalization rates, which collectively cost $528B in the US every year. MDI is used by payers and value-based providers to manage high-risk populations and save millions of dollars in Rx costs and medication-driven adverse medical events.
Source: https://www.businesswire.com/news/home/20230214005488/en/MDI-Health-Raises-20-Million-Series-A-to-Tackle-Medication-Related-Problems