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Startup creating domino effect in the healthcare system

The Viennese startup Medicus AI has developed a support software for diagnostic laboratories. A now announced Series A investment of 2.75 million euros is to be increased in the coming months to 5 million euros.

Around 200 billion findings are currently being generated in diagnostic laboratories worldwide each year. This is where the Viennese medtech startup Medicus AI starts. The support software of the startup provided patients with easy to understand and interactive findings. The doctors are provided intelligent digital support through various steps in finding a diagnosis, according to their claim. “Today, consumers are used to seeing content presented in a simple, clear way, while health systems are still complex and impenetrable,” says Medic CEO Baher al Hakim. The intention is to use the application to trigger a domino effect in the entire healthcare system.

Thus, investors could now be convinced for a Series A financing round. The startup does not communicate  what kind of company it is. 2.75 million euros could be secured in a first degree. In the coming months, one wants to increase the amount to 5 million euros, it says of Medicus AI. The capital will be used for further global expansion. It is intended to promote the development of Medicus products for diagnostic laboratories and insurance companies in core markets and new languages. Currently, Medicus offers its products in German, French, English and Arabic. For 2019 Italian, Chinese, Portuguese and Spanish versions are planned.

“We believe that lab managers will only have a few years to decide how to respond to the upcoming wave of innovation that will fundamentally change their entire industry. The market is struggling with increasing commodification, lower profit margins and stricter regulation, “says CEO Baher. The startup solutions would help labs to create an attractive, comprehensive service package. Currently, Medicus AI is focusing on scalable distribution strategies for existing and emerging markets. Headquartered in Vienna with offices in Berlin, Paris and Beirut, the company signed a collaboration agreement with Roche Diagnostics in late 2018 to expand its global reach.

Also published on Medium.

Published inStartups

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