RALEIGH, N.C. and PHOENIX, Nov. 18,
2021 /PRNewswire/ -- Medicom Technologies, Inc., creator of
the first decentralized health information network in the U.S.,
completed a $21.8M Series B financing
round. The round was led by existing investor Oval Park Capital,
with participation from Vocap Partners, Grayhawk Capital, and Cone
Health Ventures. Medicom will use the Series B funding to expand
operations and further invest in its software platforms, a
first-of-its-kind health information network, and deepMed, the
industry-leading real-world data marketplace.
Medicom's Network enables healthcare providers with real-time
access to a patient's longitudinal medical history, enhancing the
value and quality of care.
Medicom launched its health information network in 2017 and
quickly established itself as a leader in the radiology
interoperability space with its Imagex offering. Medicom has since
expanded its platform to address diverse clinical and operational
data access needs. Health systems such as Sanford Health and the VA
leverage Medicom's Network to streamline operations and improve
data exchange throughout the patient care continuum.
Current customer Cone Health made a strategic investment.
Rick Pro, Chief Data and Analytics
Officer, shared that "Medicom is helping us leverage our data in
new and innovative ways to advance new health care solutions and
provide better care to our patients."
Medicom's Network is the fastest-growing in the US. With over
3,500 unique EMR and PACS integrations, providers have the data and
insights to deliver on the promise of high-value personalized
healthcare.
deepMed puts previously unavailable data into the hands of
leading researchers.
The company's second offering, deepMed, connects research
departments at health systems with data consumers at life science,
AI, and medical device companies. Previously offered on a select
basis, "this funding enables Medicom to bring deepMed to a broader
market, accelerating research in critical disease areas through
data access and curation," said Michael
Rosenberg, Medicom's CEO and Co-Founder.
Welcoming Vocap Partners and Grayhawk Capital brings new
operating experience in Healthcare IT and Software-as-a-Service
(SaaS).
Vocap Partners Co-Founders Vinny Olmstead and Patrick Welsh, along with Grayhawk Capital,
bring deep healthcare and SaaS operating experience. Vinny Olmstead will join the Medicom Board of
Directors.
About Oval Park Capital
Oval Park Capital is an
early-stage venture capital firm that invests primarily in deep
technology companies in underserved markets. Oval Park seeks to
invest early and be an active value-added partner to companies that
are commercializing disruptive technologies to solve complex and
costly problems in large, inefficient global markets.
About Vocap Investment Partners
Vocap Investment
Partners provides venture capital and operating expertise to
rapidly growing enterprise software companies in high potential
verticals, including: Healthcare IT, Future of Work, and Revenue
Technology. Vocap Partners Co-Founders Vinny Olmstead and
Patrick Welsh bring deep experience
in scaling Healthcare and Healthcare SaaS companies.
About Grayhawk Capital
Based in Scottsdale, Arizona, the partners of Grayhawk
Capital are a seasoned and cohesive management team with 80+ years
of collective experience over 10 venture funds. Their track record
and strong returns are based on an investment model providing post
revenue Series A and Series B funding to the dynamic and rapidly
growing SaaS market in emerging tech hubs. Investing out of Fund
III, Grayhawk focuses on mobile computing, cloud, security,
enterprise & application software, business intelligence,
healthcare IT, and financial.
About Cone Health
Cone Health is a not-for-profit
health care network serving people in Alamance, Forsyth, Guilford, Randolph, Rockingham and surrounding counties in
North Carolina. Cone's brand
promise – We Are Right Here With You – is shared by the more than
13,000 employees, 1,800 physician partners and 1,000 volunteers. As
one of the region's largest and most comprehensive health networks,
Cone Health has more than 100 locations, including five hospitals,
three ambulatory care centers, three outpatient surgery centers,
five urgent care centers, two retirement communities and more than
120 physician practices. These include primary and specialty care
through Cone Health Medical Group and Triad HealthCare Network.
About Medicom
Medicom is a healthtech company
dedicated to accelerating access to clinically relevant data for
healthcare delivery and advanced research. Medicom enables
providers, patients, and research organizations to search and share
data across disparate ecosystems through a decentralized health
information network. Data and insights from the Medicom Network
help clinicians and researchers advance patient care and aids in
the development of new therapies.
Related Links
www.medicom.us
Required Disclosures
In compliance with CFR §
852.203-70, Medicom declares that statements made herein do not
imply that the Department of Veterans Affairs approves or endorses
the Contractor's products or services or considers the Contractor's
products or services superior to other products or services.
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SOURCE Medicom Technologies, Inc.