Artificial Intelligence applied to medicine: Strategic investors support IOMED's internationalization

Philips Ventures, the venture capital group of health technology leader Philips, and XTX Ventures, the venture capital arm of leading algorithmic trading company XTX Markets, led the latest funding round of IOMED. Fondo Bolsa Social and Redseed also participated in the round, as well as IOMED’s existing investors Adara Ventures and EASO Ventures.

Barcelona 13 September 2023 – IOMED, a leader in Artificial Intelligence applied to healthcare data, has recently closed a financing round of €10 million, which will be used to expand its technology in Europe,  reinforce its current position in the market, and strengthen its grounds for sustainable growth.

The round was led by Philips Ventures, the venture capital group of health technology leader Philips, and XTX Ventures, the venture capital arm of leading algorithmic trading company XTX Markets. Fondo Bolsa Social and Redseed also participated in the round, as well as IOMED’s existing investors Adara Ventures and EASO Ventures. The company has also received a grant of nearly €1 million from red.es to support a research and development project in artificial intelligence.

This milestone represents the company's consolidation as a reference in the sector and is clear evidence of its unique value proposition in the field of artificial intelligence applied to healthcare data activation.

Using an advanced Natural Language Processing system, IOMED helps hospital centers by structuring and standardizing data to meet OMOP CDM standards.

This technology has the potential to overcome historical obstacles in the healthcare sector by unlocking and activating data for multiple uses in the healthcare field while maintaining strict compliance with the European data protection regulations (GDPR).

Gabriel Maeztu, IOMED’s Co-Founder, CTO, and Chairman of the Board, said, "We are at a turning point in the history of medicine, where artificial intelligence can make a significant difference."

Javier de Oca, Co-Founder, and CEO of IOMED, stated, "Our mission is to be the catalyst that drives a better future for the healthcare ecosystem through the application of Artificial Intelligence."

In addition to international expansion, IOMED is focused on consolidating its leadership in the market and fortifying the foundations for the company's sustainable growth.

To achieve these objectives, IOMED has implemented a strategic team in both business and technological development areas to help lead the company during this next stage of growth. Pedro Cladera, who has a solid track record working in major companies such as KPMG and Vueling, Montserrat Roura, who has over 17 years of experience previously working for Novartis, and Antoni Mallol, with more than 30 years of experience in the healthcare sector. 

This milestone is also reflected in IOMED’s brand evolution, which reaffirms the maturity of the company, its forward-looking approach, and its continuous commitment to excellence and innovation in the healthcare sector.

With the closing of this investment round, IOMED positions itself as a leader in the field of artificial intelligence for healthcare data, standing out as a key ally in the transformation of the healthcare ecosystem towards a more efficient and innovative future.

About IOMED:

IOMED develops AI-powered technology for healthcare data activation, which unlocks data from hospitals’ data sources. Our technology activates data from both structured and unstructured sources, thanks to our Natural Language Processing System. This data is transformed into OMOP Common Data Model, and never leaves hospital facilities, thanks to our Federated Data Model. Thus, IOMED is the strategic ally for achieving a healthcare ecosystem driven by Real-World Data.