MedAware secures second year funding from Israel Innovation Authority
Summary
MedAware, a provider of algorithm-rich solutions for the detection and elimination of prescription-related medication errors, has announced that the company has recently received approval for its second year of funding from the Israel Innovation Authority. The financing grant is a clear indication of the Israeli government’s support for MedAware’s game-changing medication surveillance solutions, as well as the company’s technological progress, roadmap and market potential. MedAware’s medication surveillance technology was purpose-built to eradicate such catastrophic errors by leveraging its patented software to perform a real-time evaluation of a prescribed drug against a specific and up-to-date patient profile. The company’s advanced machine-learning algorithms mine data gathered from millions of EMRs to detect outliers in prescription behaviour that could potentially be fatal and immediately flag them as life-threatening. “We are grateful for the financing support from the Israel Innovation Authority and we are equally appreciative of their guidance and direction as we look to scale the reach and impact of our potentially life-saving medication surveillance technology.” MedAware intends to use the financing to expand its technology offering, including developing additional machine learning-enabled decision support solutions, as well as making ongoing product enhancements to cover added types of catastrophic errors.
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