A Houston-based startup said it would accelerate the rollout of its patient monitoring and predictive analytics platform with $11.9 million in Series A funding.
Medical Informatics Corp. (MIC) said the financing was led by Data Collective Venture Capital (DCVC) with participation from Intel Capital and the Texas Medical Center (TMC) Venture Fund. DCVC’s Scott Barclay and Intel Capital’s Eric King will join MIC’s board of directors.
Health systems are searching for ways to use machine learning and AI to get ahead of deterioration and risk in intensive care units. Yet predictive analytics are often created from discreet data points within the EHR, which can be incomplete or delayed, MIC noted. This results in predictions that can arrive after the patient has already deteriorated or, worse, result in inaccurate predictions.
MIC said its platform, called Sickbay, expedites care and reduces patient risk in near real-time and at scale. The company says Sickbay analyzes waveform data in near real-time from disparate biomedical devices connected to a patient. Results are then delivered to care teams so they can expedite care and reduce patient risk. Because the platform also features APIs and development tools, MIC said, physicians, researchers and other members of the care team can create their own algorithms and analytics based on near real-time patient data.
“Our vision is to save lives by modernizing critical care environments and extending patient-centered analytics throughout the continuum of care,” said Emma Fauss, Ph.D., M.B.A., co-founder and CEO of MIC, in a prepared statement. “Our machine learning and artificial intelligence capabilities allow us to rapidly create and deploy software-based, real-time, predictive analytics that would otherwise not be possible with traditional medical hardware.”
