Canada-based PHEMI Health Systems bags $2.8M in seed round
PHEMI Health Systems obtained $2.8 million for its seed funding round, a statement about the funding said.
BDC Venture Capital and Yaletown Venture Partners participated in the round. There were also unnamed strategic angel investors that joined in the funding for the Vancouver, British Columbia-based big data platform that seeks to enhance clinic productivity, patient outcomes and medical research by unlocking patient data, the statement said.
The proceeds will pave the way for the commercialization of PHEMI Clinical and PHEMI Central. PHEMI Clinical is a patient care management platform while PHEMI Central is a data warehouse founded on big data technology which combines advanced principles of Privacy By Design to be able to meet the different demands posed by the healthcare space, the report said.
PHEMI Health Systems Chief Executive Officer Dr. Paul Terry said in the statement, "Over 70% of healthcare information is unstructured and difficult to mine for relevant insight using traditional methods. PHEMI changes that. What we're offering now, essentially, is the ability to turn virtually any piece of patient information - physician letters, lab results, imaging, medication, previous treatment plans - into searchable information, thereby unlocking vast amounts of new data for clinicians, analysts and researchers to extract insights from. PHEMI helps turn healthcare data into strategic assets."
The products offered by PHEMI helps in the gathering, curation and evaluation of extensive datasets of healthcare information for various purposes, including population health management, clinical studies and quality and performance analytics, among others.
BDC Venture Capital Healthcare Fund Senior Managing Partner Dion Madsen said in the statement, "Healthcare is an industry rapidly adopting innovative technology to drive more efficient care delivery and this rising market demand has created a great opportunity for investment. We are very impressed with the experienced PHEMI team and believe that they can build another world-class company."