Israeli MedAware has raised $8 million in Series A funding. The investment came from BD (Becton, Dickinson and Company), Gefen Capital, OurCrowd, and Yingcheng City Fubon Technology Co. The company has raised $12 million to date.
MedAware uses machine-learning algorithms to help prevent mistakes in medical prescriptions. According to the company, nearly eight million people in the United States alone are exposed to serious and preventable prescription errors annually. MedAware works to eradicate such errors by using its software to perform a real-time evaluation of a prescribed drug against up-to-date patient profiles.
The company says it will use the new funding to make ongoing product enhancements that will cover more catastrophic types of errors.
"MedAware was purpose built around our commitment to patient safety," said Gidi Stein, CEO of MedAware. "Every catastrophic error we identify is a patient saved. Through this round of Series A funding we will be able to build on the successes we've achieved to date and scale our approach to protect physicians and their patients all over the world."
Read more: SATPRNEWS (Press release)
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