Intel Capital, the venture capital arm of tech giant Intel, led a $20 million funding round for MDI Health, an artificial intelligence-powered medication management company.
MDI’s platform analyzes different factors to identify medication-related risks. The financing brings the company’s total funding to $26 million, according to a Feb. 14 MDI Health news release.
The company will use the financing to scale its product in the U.S. and Israel.
“With more patients and less staff, clinicians’ mission to deliver exceptional care has limitations. Clinicians are forced to make a judgment call when treating patients, leading to unnecessary medications, clinic visits, hospitalizations, and readmissions,” Intel Capital Managing Director Roi Bar-Kat said in the release. “MDI Health’s technology is a game changer for health plans and value-based providers, helping them deliver ‘whole’ person medication management, at scale — saving costs, and most importantly saving patients’ lives.”
