IOMED, a leader in AI-powered technology for healthcare data activation, has recently announced the closure of a Series A investment round for a total of 10 million euros.
The round was led by Philips Ventures and XTX Ventures, the venture capital arm of leading algorithmic trading company XTX Markets. Fondo Bolsa Social and Redseed also participated in the round, as well as IOMED’s existing investors Adara Ventures and EASO Ventures. The company has also received a grant of nearly €1 million from red.es to support a research and development project in artificial intelligence.
This milestone represents the consolidation of the company as a leader in the healthcare technology sector and clear evidence of its unique value proposition. This funding round will enable IOMED to expand internationally, consolidate its position in the current market, and develop new business models based on the company’s sustainable growth.
Gabriel Maeztu, IOMED’s Co-Founder, CTO, and Chairman of the Board said, “The lack of structured and standardized data in the healthcare sector has been a significant obstacle in its development for many decades. Thanks to the latest advances in artificial intelligence, we are at a turning point that will change the history of medicine.”
Javier de Oca, Co-Founder and CEO at IOMED added, “At IOMED, our mission is to be the catalyst that drives a better future for the healthcare ecosystem through the application of Artificial Intelligence.”
To achieve these objectives, IOMED has recently consolidated a strategic team in both business and technological development areas to help lead the company during this next stage of growth. Pedro Cladera, Chief Corporate Officer, who has a solid track record working in major companies such as KPMG and Vueling, and Montserrat Roura, Chief Sales Officer, who has over 17 years of experience previously working for Novartis, are some of the strategic members of the team.
The IOMED brand has also evolved, with an updated brand image that reflects the maturity of the company, its cutting-edge approach, and its continuous commitment to excellence and innovation in the healthcare sector.
With this investment round and focus on international expansion, IOMED solidifies its position as a reference in the field of artificial intelligence and innovation, positioning itself as a key ally in transforming the healthcare ecosystem.
About IOMED
IOMED develops AI-powered technology for healthcare data activation, which unlocks valuable data from hospitals’ data sources. We activate data from both structured and unstructured sources, as human-written records, thanks to our Natural Language Processing System. This data is transformed into OMOP Common Data Model, and stored in-house hospitals’ systems thanks to our Federated Data Model, enabling a comprehensive understanding of healthcare information. This allows hospital centers to collaborate with institutions, researchers, medical professionals, and the industry in general, providing them with updated and high-quality real-world data, ready to be used for various purposes. For more information, visit iomed.health.
Originally announced September 13th, 2023
