Venture Capital/AI: MDI Health Nabs $20M Series A For Its Medication Management Platform

February 17, 2023 | News, Venture Capital
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MDI Health is an AI-powered platform that automates the optimization of personalized medication treatment.

MDI Health has raised $20 million in Series A funding led by Intel Capital to further develop their AI-powered platform that automates personalized medication treatment at scale. 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 also participated. The round brings MDI Health’s cumulative financing to $26 million. (Businesswire)

The platform’s goal is to prevent adverse reactions to drugs, which currently account for over 270,000 deaths every year, and are the fourth-leading cause of deaths in the US.

Unfortunately, current medication management solutions are often alert-based and require time-consuming. On the other hand, MDI Health’s AI medication management platform is autonomous and personalized to the patient. It analyzes thousands of factors to identify drug-related risks and quickly provides recommendations to safeguard against them. This results in saving time, costs, and better health outcomes.

MDI Health’s mission is to combat the increasing number of deaths and costs associated with adverse drug events. Their solution also enables health payers, providers, and pharmacies to improve patient outcomes, medication safety, and hospitalization rates, which collectively cost $528 billion in the US every year.

The Series A funding will allow MDI Health to meet rising customer demand and scale its US and Israeli R&D teams to drive product development. As part of the fundraise, Intel Capital Investment Director Yoni Greifman will join MDI Health’s board of directors.

“Medication management is one of the most pressing issues facing healthcare today, with patient care costs and quality on the line,” said Richard L. Boals, MDI Health board member and investor and former CEO of Blue Cross Blue Shield of Arizona. “MDI Health’s AI platform is addressing this issue head on at-scale by working directly with payers to lower costs and improve quality for their members.”

Related Story:  At Home Healthcare Provider DispatchHealth Lands $330M Funding

Image by Elisa from Pixabay

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