medCPU Closes $8 Million Financing, Continues to Reinforce Leadership Position in Clinical Decision Support Market
NEW YORK, N.Y., July 14, 2015 – medCPU, Inc., a leader in enterprise clinical decision support solutions, announced today that it closed an $8 million financing round, consisting of $5 million series B-2 equity and $3 million in debt financing. The equity round was led by Merck Global Health Innovation Fund and New Richmond Ventures, and debt financing was provided by Silicon Valley Bank. This additional funding will enable medCPU to continue to assert its leadership position in the dynamic clinical decision support marketplace.
“We are driven by the confidence of our financial partners to further achieve our vision of changing the face of clinical decision support as it is known today,” said Sonia Ben-Yehuda, President and Co-Founder of medCPU, Inc. “In the past, the adoption of decision support has been stifled by outdated technologies that do not meet the needs of today’s clinicians. Unlike older, unreliable technologies that cause alert fatigue among clinicians, our solution delivers highly accurate and reliable decision support to clinicians at the point-of-care in real-time without disrupting their workflow.”
In a fast-paced environment where every detail is critical to a patient’s quality of care, real-time clinical decision support is a crucial component of a clinician’s workflow. The medCPU Advisor™, medCPU’s enterprise platform technology, acquires and processes both structured and unstructured data immediately as it is entered into a clinician’s Electronic Medical Record (EMR) system. The technology then assesses the data against best practice modules to provide the clinician with a holistic view of their patient and to ultimately provide highly accurate, real-time, reliable prompts at the point-of-care.
“We work with the most innovative companies, and those that have potential to transform the future of healthcare,” commented Michael Hanewich, Managing Director, Head of Life Science and Healthcare Venture Capital Relationships for Silicon Valley Bank. “The medCPU team has the vision and expertise to improve the accuracy and delivery of healthcare as it stands today.”
“Our technology is already being used by over 20,000 clinicians and a number of leading healthcare providers,” added Ms. Ben-Yehuda. ”This financing will help us to continue to grow our market share. We are excited about facilitating the move beyond antiquated, evidence-based reference tools to a new era of clinical decision support.”
medCPU’s solution is simple and seamless to deploy as it does not require integration into an EMR system or complex data connectivity to an interface engine. The medCPU Advisor™ enables healthcare providers to optimize investments already made in their EMRs. Running in the background of an EMR system unseen, the technology reads and captures data without disrupting a clinician’s workflow and only provides notifications when deviation from best practice care consideration occurs.
To meet the needs of different specialized health care organizations, medCPU delivers a wide range of customizable clinical and compliance decision support solutions, including modules for Obstetrics, Spine, Stroke, CHF, COPD, Value Based Purchasing, DRG’s, ICD-10, VTE Prophylaxis, Population Health, and in partnership with ILÚM Health Solutions™ (a subsidiary of Merck & Co., Inc. Kenilworth, NJ) is developing modules for Infectious Diseases such as Sepsis, Pneumonia and Urinary Tract Infection that also enable comprehensive Antimicrobial Stewardship.
medCPU delivers accurate real-time enterprise decision support software and services through its proprietary Advisor technology. medCPU captures the complete clinical picture from clinicians’ free-text notes, dictations, discharge summaries and structured documentation entered into any Electronic Medical Record (EMR), and analyzes it against a growing library of best-practice content, generating real-time precise prompts for best care consideration. medCPU’s founding multi-disciplinary team has been pioneering new clinical decision support for nearly 20 years, delivering intelligent error reduction software systems to hospitals across the United States. medCPU’s applications include clinical and compliance support solutions. For more information, visit www.medCPU.com.