Canaan Partners backs DICOM Grid

DICOM Grid has raised $6 million in funding. The investors included Canaan Partners, CHL Medical Partners and Mayo Clinic. Based in Phoenix, Arizona, DICOM Grid is a digital medical imaging platform.

PRESS RELEASE

PHOENIX, AZ, July 17, 2014 – DICOM Grid, makers of the most comprehensive cloud-based platform for medical image management and exchange, today announced a $6 million inside funding round backed by Canaan Partners, CHL Medical Partners, Mayo Clinic and several individual investors. Fueled by the increased demand for image management and exchange strategy among top healthcare organizations, DICOM Grid’s funding will drive product development and open up additional strategic integration opportunities with the industry’s leading EHR and RIS providers.

Dozens of healthcare organizations, in pursuit of a cloud-based platform that safely shares and stores information, now rely on DG Suite, DICOM Grid’s product line, for managing diagnostic imaging and related health data. DICOM Grid’s customers include Mayo Clinic, Rush University Medical Center, Greater Houston Healthconnect, Baptist Health South Florida, Memorial Hermann Health System, Frederick Memorial Hospital, and some of the world’s largest clinical trial research organizations.

“Leading healthcare institutions in the U.S. are adopting our technology to improve the lives of patients,” said Morris Panner, CEO of DICOM Grid. “There is a huge demand for an easy workflow that moves imaging data between locations and across disparate systems, all under HIPAA compliance. DG Suite eliminates traditional costs and hassles associated with moving data, which translates to a smoother experience for the patient.”

Current estimates show that imaging has been one of the fastest growing components of medical costs, and constitutes between 7.5 and 10% of total healthcare expenditures. Even though costs of imaging amount to more than $100 billion per year, 10% of these exams—$10 billion worth—are duplicative or unnecessary. With DG Suite, healthcare organizations can break down financial and operational barriers by eliminating traditional hassles associated with sharing, exchanging and storing diagnostic imaging.

Greater Houston Healthconnect, one of the largest health information exchanges in the nation, serves 20 counties in Southeast Texas and is collaborating with DICOM Grid to create community-wide access to diagnostic imaging.

“DICOM Grid’s technology is being made available to 15,000 physicians and 130 hospitals in the region, to deliver immediate access to imaging at the point of care, says Phil Beckett, PhD, Healthconnect’s Acting CEO and Chief Technology Officer. “Being able to electronically retrieve prior imaging will mean providers can make more informed treatment decisions and help to eliminate unnecessary duplicative tests, which are often not reimbursable. We believe this will save dollars and reduce radiation exposure for patients.”

Recently recognized by KLAS Research, DICOM Grid manages over 1.2 billion images for users world-wide, who use its secure, HIPAA compliant imaging software to facilitate CD ingestion, image sharing, patient transfers, remote reads, and disaster recovery. For more information about DG Suite and DICOM Grid, visit www.dicomgrid.com.

About DICOM Grid:
Founded in 2006, DICOM Grid is a healthcare IT company that makes digital medical imaging accessible to medical facilities and physicians. Based in Phoenix, Arizona, DICOM Grid has secured $30.9 million in funding backed by Canaan Partners, CHL Medical Partners, Mayo Clinic and individual investors. DICOM Grid’s product line, DG Suite, allows healthcare organizations of all sizes to manage diagnostic imaging and related health data safely in the cloud. For more information, visit www.dicomgrid.com

 

 

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