IOMED, a Barcelona startup that helps turn electronic health records (EHR) into data for clinical research, has raised €2 million to expand throughout Spain and into Germany and the UK. Adara Ventures led the round, while EASO Ventures, Speedinvest and other existing investors joined.
The technology, which is based on artificial intelligence and natural language processing, allows hospitals to transform information from medical records (written in free text format) into coded and structured data. This not only streamlines data collection but also helps develop predictive models and speeds up clinical research.
Other products are available as well, such as GDPR-compliant data storage (installed locally at hospitals), software for observational studies, and a matchmaking network to find suitable patients for clinical trials.
The health tech startup was founded by Álvaro Abella, Gabriel de Maeztu and Javier de Oca in 2016. Currently the company works with hospitals around Spain, helping run projects in 27 medical centres, including the Vall d'Hebron Hospital and the Hospital del Mar in Barcelona and the Cruces-Biocruces Bizkaia University Hospital in the Basque Country.