- MDI Health announced it raised $20 million. These are the details.
MDI Health – an AI-powered platform that automates the optimization of personalized medication treatment at scale – announced it has raised $20 million in Series A funding 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.
MDI Health is equipping clinicians with the technology they need to prevent adverse drug reactions, which are known as the fourth leading cause of death in the U.S., resulting in over 270,000 deaths each year.
The current medication management solutions are largely alert-based, focusing on drug interactions and requiring laborious processes. MDI Health’s AI medication management platform is autonomous and hyper-personalized. And 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.
The Series A funding — which brings the total financing to $26 million — will enable MDI Health to meet rising customer demand and scale its U.S. and Israeli R&D teams to drive product development. And as part of the fundraise, Intel Capital Investment Director Yoni Greifman will join MDI Health’s board of directors.
KEY QUOTES:
“MDI Health is driven by our mission to help end the preventable suffering of patients caused by an outdated one-size-fits-all approach to medication treatment.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.”
— Avishai Ben-Tovim, CEO and co-founder of MDI Health
“With more patients and less staff, clinicians’ mission to deliver exceptional care has limitations. Clinicians are forced to make a judgment call when treating patients, leading to unnecessary medications, clinic visits, hospitalizations, and readmissions. MDI Health’s technology is a game changer for health plans and value-based providers, helping them deliver ‘whole’ person medication management, at scale – saving costs, and most importantly saving patients’ lives.”
— Roi Bar-Kat, Intel Capital Managing Director, Israel Country Manager
“Medication management is one of the most pressing issues facing healthcare today, with patient care costs and quality on the line. 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.”
— Richard Boals, MDI Health board member and investor and former CEO of Blue Cross Blue Shield of Arizona
