Emma FaussCo-founder & CEO, Medical Informatics
Houston-based Medical Informatics Corp. announced that it closed an $11.9 million Series A round to further develop its patient monitoring and predictive analytics platform.
The financing round was led by California-based Data Collective Venture Capital (DCVC), with participation from Intel Capital — the venture capital arm of tech giant Intel Corp. — and the Texas Medical Center Venture Fund, according to an April 2 press release from Medical Informatics Group (MIC). As part of the deal, DCVC partner Scott Barclay and Intel Capital's Eric King will join MIC’s board of directors, per the release.
MIC will use the funding to roll out its FDA-cleared patient monitoring and predictive analytics platform, dubbed Sickbay. Sickbay captures and processes health care data from biomedical devices attached to patients in near real-time, per the release. The platform also features development tools that allow physicians and researchers to develop their own algorithms to gather medical data.
“This investment comes at a great time. We are growing rapidly to enable delivery of our breakthrough technology to every bedside in every hospital in the country,” said Emma Fauss, co-founder and CEO of Medical Informatics Corp, in the press release. “The Series A funding will accelerate our ability to execute on current implementations and support the hundreds of additional hospitals in our pipeline.”
An undisclosed amount of MIC's latest funding came from the TMC Venture Fund — an effort that launched in November 2017 with a $25 million venture fund to invest in Houston health care companies.
“TMC Venture Fund has the opportunity to see the very best of the hundreds of companies that come through our ecosystem in search of solving some of the world’s most complicated health care problems, and we select those companies that we think have the best chance of changing the face of medicine and advanced care," said Bill McKeon, CEO and President of the Texas Medical Center, in the release. "Medical Informatics represents one such company that has the potential to profoundly and fundamentally affect health care on a global level."
MIC is also working with Texas Children's Hospital and its pediatric heart center to develop digital tools for alarm management, a dispatch app for emergency response teams and an algorithm that can predict cardiac arrest events before they happen, per the release. MIC is headquartered inside of the TMC Innovation Institute at 2450 Holcombe Blvd., according to the company website.
This article was originally written by Chris Mathews and published in the Houston Business Journal.