PHEMI raises $2.8 million to advance its vision for transforming healthcare delivery
BDC Venture Capital, Yaletown Venture Partners and angel investors back PHEMI to pioneer Privacy by Design for Big Data
VANCOUVER, British Columbia, March 24, 2014-- PHEMI Health Systems announced today the closing of a $2.8 million seed-financing round which will allow it to commercialize PHEMI Clinical – a patient care management platform that dramatically improves clinic productivity and patient outcomes, and PHEMI Central – a next generation data warehouse based on Big Data technology that incorporates sophisticated Privacy By Design principles to meet the unique demands of healthcare. Investors included BDC Venture Capital, Yaletown Venture Partners and a number of strategic angel investors.
The PHEMI suite of products supports the collection, curation and analysis of many rich datasets of healthcare information for population health management, clinical study engagement, evidence-based care, post-market surveillance and quality and performance analytics.
"Over 70% of healthcare information is unstructured and difficult to mine for relevant insight using traditional methods," said Dr. Paul Terry, CEO of PHEMI Health Systems. "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." He adds, "We have found a way to manage patient consent and balance an individual's privacy requirements with a healthcare organization's legitimate need for patient information. This drives improvements in clinical care, medical innovation, business decision-making and cutting-edge research."
Dion Madsen, Senior Managing Partner of the BDC Venture Capital Healthcare Fund, agrees, "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."
Mike Satterfield, Partner at Yaletown Venture Partners, comments, "Early results from PHEMI's pilots have been outstanding. PHEMI has an ambitious vision to bring privacy and security to Big Data, a bold approach that is set to change healthcare delivery models across North America."
PHEMI Health Systems is a process automation and Big Data platform company that unlocks patient data to improve clinic productivity, patient outcomes, and medical research. The PHEMI team architected PHEMI Clinical and PHEMI Central from the ground up specifically for healthcare, fully incorporating the 7 foundational principles of Privacy by Design as applied to Big Data. For more information, please visit www.phemi.com.
With more than $1 billion under management and more than 25 years of industry experience, BDC Venture Capital is an investor of choice focusing on IT, health, and energy/clean technology companies, as well as venture funds, with high growth potential. From seed through expansion to exit, our mandate is to help build outstanding Canadian companies, while working to create a sound financial ecosystem for Canadian technology ventures. Find out more at www.bdc.ca/vc or on Twitter @BDC_VC.
About Yaletown Venture Partners
Yaletown uses its extensive industry and regional networks to seek out the most promising early-stage IT and Cleantech companies in Western Canada and the US Pacific Northwest. Founded in 2002, Yaletown's team has more than 120 years' collective experience financing and growing technology companies. Yaletown is headquartered in Vancouver, with offices in Calgary and Seattle. For more information, visit www.yaletown.com.
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