New York-based business analytics platform CB Insights has named two Pittsburgh-based health care-related startups to its latest global cohort of firms that make up its Digital Health 150 list.
MindTrace, a Pittsburgh-based startup that's making a clinical decision support tool that aims to protect the mind of a neurosurgery patient post-operation, and Abridge, makers of an AI-powered medical transcription platform for doctors and patients, are the two startups featured among 148 others. The local firms' placement marks them as among the "most promising private digital health companies of 2022," according to CB Insights.
For its list, CB Insights broke the startups into different health-related categories, of which MindTrace and Abridge got placed in the clinical intelligence category with six others.
"This increasingly global cohort, representing more than 18 countries across five continents, is not only driving better patient outcomes, but making health care more accessible," Brian Lee, senior vice president of CB Insights’ Intelligence Unit, said in a press release. "We are excited to follow the meaningful impact and continued success of this year’s winners."
CB Insights said it pooled its 150 winners from a database of 13,000 private companies, which included applicants and nominees. Factors such as research and development activity, market potential, business relationships and other elements drove the final makeup of the list.
"We are incredibly excited and honored to have been included alongside companies working to solve some of health care's biggest, most complex challenges," Max Sims, MindTrace’s CEO and co-founder, said in a prepared statement. "This recognition is a testament to all the help we’ve received along the way. Our team is especially grateful to the clinicians, advisors and investors working with us in lockstep to bring this technology into neurosurgery patients’ lives at scale."
In a separate prepared statement, Abridge Co-Founder and CEO Dr. Shivdev Rao said: "More and more, providers are finding themselves under pressure from strained health care systems, somehow needing to see more patients while also improving patient experiences and outcomes. That changes with Abridge. We’re incredibly proud that CB Insights has recognized the progress we’ve made in leveraging cutting-edge generative AI that can scale to this clinician burnout crisis and improve the care delivery experience for both providers and their patients."
MindTrace and Abridge have had a significant year.
This past spring, MindTrace won the inaugural Inno Madness reader poll competition from Pittsburgh Inno, besting out 15 other local startups to emerge as the readership's favorite. And in August, Abridge landed a $12.5 million Series A funding round that will help propel the startup's growth of its medical transcription platform.
