Digital health platform MediCardia Health Inc. of Mequon, which is chaired by veteran Milwaukee-area angel investor Jeff Rusinow, said it raised $3 million in its first major financing round from angel investors, including Milwaukee Venture Partners and Northwestern Mutual Cream City Venture Capital.
The company said Thursday it also attracted angel investors from throughout the United States as well as from Japan.
MediCardia describes itself as a digital health platform that aggregates, organizes and operationalizes comprehensive clinical data for clinicians.
The company was founded in 2020 by its CEO Dr. Indrajit Choudhuri and associates. Choudhuri is a part-time electrophysiologist with Froedtert South in Kenosha.
Rusinow, who provided seed capital, said MediCardia has applications available to a wide array of clinicians with a focus on dramatically improving the user interface, thus improving outcomes, reducing expenses and increasing revenue while improving clinical efficacy.
The new funding round positions MediCardia for rapid growth, Rusinow said. The company will use the new funds to significantly ramp up further IT development of its core digital health platform, which includes embedded telehealth, remote patient monitoring, natural language processing for data discretization, and automated chart preparation.
MediCardia said it will soon begin approaching venture capital investors and strategic partners in preparing for a Series A funding round in 2022.
The company said its system’s clinical architecture significantly improves the health care industry’s transition to value-based care. MediCardia's mission is to become a leader in digital health by creating provider-centric tools for patient-centric care, resulting in optimal precision medicine for the prevention and continuous care of disease.
New features on the MediCardia platform set to launch in the coming months will include integration for implantable devices, imaging, a research platform and a proprietary clinical intelligence engine, the company said.
MediCardia said it is in the Epic App Orchard of Verona-based Epic Systems.
Northwestern Mutual's Cream City Venture Capital is dedicated to investing solely in startups based in southeast Wisconsin.
"MediCardia has a remarkable vision for the future and the opportunity to drive digital transformation in the health care industry," Cream City Venture Capital managing director Craig Schedler said in a press release.
