Medicom Technologies Inc, a decentralized health information network, has secured $21.8 million in Series B funding. Oval Park Capital led the round with participation from Vocap Partners, Grayhawk Capital, and Cone Health Ventures.
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.
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.