Medicom Secures Strategic Expansion Capital from UPMC Enterprises, TGH Ventures, Cone Health Ventures, Customers Bank, and More

RALEIGH, N.C., July 25, 2024 /PRNewswire/ -- Medicom, a health tech startup leading enterprise imaging interoperability, today announced completion of its oversubscribed strategic financing round. Notable participation included UPMC Enterprises, Tampa General Hospital (TGH) Ventures, expanded participation from existing investors Cone Health Ventures, Oval Park Capital and Grayhawk Capital, as well as local Triangle venture groups such as the Carolina Angel Network and the Triangle Tweener Fund.

With participation from two nationally renowned academic institutions—UPMC Enterprises, the innovation, commercialization, and venture capital arm of the health system UPMC (University of Pittsburgh Medical Center), and TGH Ventures, the corporate venture capital arm of Tampa General Hospital—Medicom welcomes the strategic partnerships and the clinical and research expertise they bring as the company enters its next phase of growth.

"As we continue to strengthen our core enterprise imaging interoperability platform and unlock transformative insights from Real-World Data, we are excited to have two extraordinary partners join our team," said Michael Rosenberg, Co-Founder and CEO of Medicom. "Medicom's alignment with UPMC's and TGH's missions around interoperability and RWD&E will accelerate the platform's evolution and commercialization, and we are excited to see the impact these partnerships will have on our thousands of Medicom Connect and Intellect user organizations."

"At UPMC Enterprises, we have a front row seat to the transformation that health care is undergoing as data becomes more accessible and interoperability improves," said Brent Burns, Executive Vice President of digital solutions at UPMC Enterprises. "Medical imaging files and metadata are critical to supporting clinical and academic research to develop novel therapeutics. We are thrilled to partner with Medicom and bring their expertise in secure and efficient medical image and data exchange to support UPMC's continued leadership in health care research." 

"Since 2021, Tampa General Hospital has expanded its deployment with Medicom to offer a comprehensive singular, high reliability enterprise imaging platform that facilitates cross-institute exchange across all 23 TGH Imaging locations in the Tampa Bay region," said Sherri Lewman, senior vice president of Enterprise Imaging. "Broadening our scope with Medicom has allowed TGH Imaging to increase telemetry, observability and control while reducing overall image exchange costs."

"TGH Ventures is proud to approve this investment in Medicom to continue to advance innovation across our enterprise and all aspects of healthcare imaging," said Rachel Feinman, vice president of Innovation at Tampa General and managing director of TGH Ventures.

In addition, Medicom secured capital from Customers Bank, the $22 billion asset subsidiary of Customers Bancorp and a leading partner in the venture banking community. 

This round of funding aims to leverage strategic partnerships with leading academic institutions and local Research Triangle Park participants, alongside the deployment of new capital, to drive platform innovation and go-to-market functions for accelerated growth.

Recognized by KLAS as one of the most promising HCIT companies in 2024, Medicom's platform addresses the long-standing challenges of interoperability of medical images and relevant clinical data. By leveraging its unique peer-to-peer network and generative AI, Medicom consolidates the use of multiple cloud solutions, CDs, fax, courier services, and VPNs into a single enterprise-wide platform for all enterprise imaging workflows. Whether it's automatically capturing relevant prior images and associated clinical data before a patient's appointment and reconciling it across all internal systems, enabling patients with the ability to access and share their images directly within their existing patient portal, or providing researchers with longitudinal patient-cohort specific de-identified data for research and development, Medicom ensures real-time access to relevant data for the advancement of patient care.

About Medicom
Medicom is a health tech company that is dedicated to ensuring timely access to clinically relevant data at the point-of-care and advancing research. The company developed the first fully federated, decentralized, peer-to-peer network for medical image and clinical data exchange. The Medicom platform leverages the Medicom Network for both clinical and research use cases. Medicom Connect enables enterprise imaging interoperability, eliminating long-standing data exchange, accessibility, and usability challenges for patients and providers. Medicom Intellect leverages the Medicom Network for research collaboration, providing data and insights for research within precision medicine and life sciences.

Related Links
https://home.medicom.us
https://enterprises.upmc.com
https://tgh.org/research-and-innovation/tgh-ventures

Provided by:
Medicom Technologies, Inc. (Medicom) // Raleigh, NC & Phoenix, AZ

SOURCE Medicom Technologies, Inc.