Top doctors tip into AI medtech capital raise a second time as Aussie start up expands globally
Medow Health AI, an Australian start up developing AI native tools for specialist doctors to automate medical reports has successfully closed a $3M funding round backed by the same doctors who funded the company’s first capital raise.
Some of the specialist doctors who have come on board a second time as investors and advisors include Chris O’Brien Lifehouse CEO oncologist Professor Michael Boyer, leading orthopedic surgeon Michael Solomon and eye surgeon Dr Johnny Wu.
This year Medow Health AI has grown revenue by 300% and its AI technology is processing over 100,000 specialist consults each month in private practices as well as recently completing a successful pilot at a leading Australian hospital.
“Where others only focus on AI we use our engineering talent to integrate with key medical systems, recently launching a tailored hospital product for meditech powered Chris O’Brien Lifehouse,” said Medow Health Co-Founder Joel Freiberg.
“The capital raise will enable us to launch new AI products to specialist medical communities across the country, increase integrations into key healthcare systems and see us through to profitability within 12 months,” Mr Freiberg said.
“We didn’t have to look far for investors for both the initial and second round capital raise with our early medical specialist customers already using the technology wanting to be involved.”
“This year we have expanded to New Zealand and now South East Asia with strong pick up in both regions following our first capital raise that closed at $2M.”
“Leading in AI quality and interoperability has been a key priority since day one and led to our amazing partnership with Magentus almost 3 years ago.”
“Our talent is shown by not only our AI capabilities but also our ability to work within existing healthcare ecosystems and that is our advantage, as evidenced by Meditech and Genie integrations with more to come.”
“Our shared commitment to supporting specialist doctors, enhancing their operational excellence and improving patient outcomes, has the potential to redefine the standard of care across Australia’s medical community.”
“Central to our vision is the creation of a system that genuinely resonates with the specialists who use it.”
About Medow Health AI
Medow Health AI is a pioneering Australian healthcare technology company ‘by Specialists, for Specialists,’ dedicated to revolutionising the medical industry through the power of artificial intelligence to streamline processes, improve patient care, and enhance overall efficiency in healthcare settings.
The company was founded by Joel Freiberg who lives with Crohn’s disease and has experienced long waits to see a specialist. Along with his brother Josh, they recognised there was a need for change growing up as they watched their father, a respiratory physician spend endless hours doing admin after work.
