Healthcare IT startup MDClone has announced that it has raised $15 million from OrbiMed Israel Partners, who led the initial investment in 2016 and Lightspeed Venture Partners, who led the 2017 financing.
MDClone introduces a new approach to healthcare data access, privacy, analytics and research. The company addresses one of the greatest challenges – and opportunities – in healthcare today: a vast and ever-expanding amount of data, but a limited ability to derive meaningful insights, which can lead to more effective patient care and streamlined hospital operations. MDClone’s Platform dramatically enhances the utility of data and its Synthetic Data Engine offers the first solution on the market to eliminate the risk of releasing identifiable patient information when conducting healthcare analysis and research.
“MDClone has one of the most innovative, experienced and passionate teams in digital health in Israel, a rare combination in any startup,” said OrbiMed Managing Director, Anat Naschitz. “I believe this team can realise the significant potential afforded by the company’s unique technology, translating it into commercial success. We see the entire healthcare industry benefiting from MDClone’s solution.”
“The technology and vision we were presented with caught our attention and once we spoke to MDClone’s customers throughout Israel and in the U.S., we were convinced this is a game-changing company,” added David Gussarsky, Partner at Lightspeed Venture Partners. “MDClone offers a giant leap in the way healthcare data is analysed; with MDClone, organisations are finally capable of realising the full value of their data assets to transform medical research, technology development and healthcare delivery.”
MDClone is based in Beersheba, Israel where it was founded in 2016 by CEO Ziv Ofek (Founder and former Chief Innovation Officer of dbMotion, acquired by Allscripts in 2013), CTO Luz Erez and CFO Boaz Gur-Lavie. The company released its first product in February 2017 and counts most of Israel’s healthcare system as customers. In January 2018, the company signed its first major deal in the U.S. with Washington University School of Medicine in St. Louis. The funding will be used for ongoing development of the MDClone Platform and for global expansion.