Medicus AI Closes the First Tranche of its Series A Funding Round of €5 Million

MedicusMedicus AI GmbH announced the completion of the first tranche of its Series A funding round at €2.75 million, with the purview to close the second tranche of €2.25 million over the coming months.

Medicus works with diagnostic labs to deliver smart features and insights to doctors, in terms of smart testing and diagnosis support, and to patients, in the form of visual and interactive reports, powering continuous healthcare and coaching across all digital platforms.

"At Medicus, we believe that healthcare is in dire need of a user-experience overhaul and that people today are used to experiencing things in a much simpler and clearer fashion, yet healthcare is still complex and impenetrable. We believe this augmentation can unlock massive value that reverberates across the whole healthcare system," said Dr Baher al Hakim, CEO, Medicus.

The Series A funding round will further fuel the company's global expansion, as well as the development of the Medicus diagnostic lab and insurance products, across core markets and in new languages. To date, Medicus supports, German, French, English and Arabic, with Italian, Chinese, Portuguese and Spanish in the pipeline for 2019.

The diagnostic lab space, which makes up Medicus' current core client base, generates an estimated 20 billion reports annually worldwide. However, the industry operates in highly consolidated markets and struggle to differentiate themselves, maintain growthand introduce future-proof business models.

"Our proposition to diagnostic labs is simple. We empower labs to deliver defensible value-add services that augment their existing products. We believe that lab directors only have a few years to decide how to react to the impending waves of innovation incrementally disrupting their industry. The market is struggling under increased commoditization, lowering margins and tightening regulations. Through innovation we help labs build an attractive and integral service offering," explained Dr Baher.

Today Medicus is focused on scalable distribution strategies in existing and new markets from its Vienna headquarters, with offices in Berlin, Paris and Beirut. In late 2018, Medicus signed a market access cooperation with Roche Diagnostics, which will amplify its global reach.

"Medicus is working towards transforming the healthcare sector, simplifying the relations between providers and patients, and leading to better health outcomes," concluded Dr Baher. "Our growing global knowledge and partnerships will help us achieve these outcomes."

For further information, please visit:
http://www.medicus.ai

About Medicus

Medicus is an AI-based platform that converts health data into an interactive experience with easy-to-understand explanations, personalized health insights and smart wellbeing coaching.

Medicus is used by diagnostic labs and health insurance companies to provide patient-friendly health reports and foster continuous and personalized wellbeing coaching.

Medicus is based in Vienna, with offices in Berlin, Paris and Beirut.

Most Popular Now

Unlocking the 10 Year Health Plan

The government's plan for the NHS is a huge document. Jane Stephenson, chief executive of SPARK TSL, argues the key to unlocking its digital ambitions is to consider what it...

Alcidion Grows Top Talent in the UK, wit…

Alcidion has today announced the addition of three new appointments to their UK-based team, with one internal promotion and two external recruits. Dr Paul Deffley has been announced as the...

AI can Find Cancer Pathologists Miss

Men assessed as healthy after a pathologist analyses their tissue sample may still have an early form of prostate cancer. Using AI, researchers at Uppsala University have been able to...

New Training Year Starts at Siemens Heal…

In September, 197 school graduates will start their vocational training or dual studies in Germany at Siemens Healthineers. 117 apprentices and 80 dual students will begin their careers at Siemens...

AI, Full Automation could Expand Artific…

Automated insulin delivery (AID) systems such as the UVA Health-developed artificial pancreas could help more type 1 diabetes patients if the devices become fully automated, according to a new review...

How AI could Speed the Development of RN…

Using artificial intelligence (AI), MIT researchers have come up with a new way to design nanoparticles that can more efficiently deliver RNA vaccines and other types of RNA therapies. After training...

MIT Researchers Use Generative AI to Des…

With help from artificial intelligence, MIT researchers have designed novel antibiotics that can combat two hard-to-treat infections: drug-resistant Neisseria gonorrhoeae and multi-drug-resistant Staphylococcus aureus (MRSA). Using generative AI algorithms, the research...

AI Hybrid Strategy Improves Mammogram In…

A hybrid reading strategy for screening mammography, developed by Dutch researchers and deployed retrospectively to more than 40,000 exams, reduced radiologist workload by 38% without changing recall or cancer detection...

Penn Developed AI Tools and Datasets Hel…

Doctors treating kidney disease have long depended on trial-and-error to find the best therapies for individual patients. Now, new artificial intelligence (AI) tools developed by researchers in the Perelman School...

Are You Eligible for a Clinical Trial? C…

A new study in the academic journal Machine Learning: Health discovers that ChatGPT can accelerate patient screening for clinical trials, showing promise in reducing delays and improving trial success rates. Researchers...

Global Study Reveals How Patients View M…

How physicians feel about artificial intelligence (AI) in medicine has been studied many times. But what do patients think? A team led by researchers at the Technical University of Munich...

New AI Tool Addresses Accuracy and Fairn…

A team of researchers at the Icahn School of Medicine at Mount Sinai has developed a new method to identify and reduce biases in datasets used to train machine-learning algorithms...