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Kira Radinsky’s Diagnostic Robotics wants to improve patients’ treatment, raises $45M

Photo Credit: Diagnostic Robotics

Diagnostic Robotics, Ukraine-born Israeli computer scientist Kira Radinsky’s latest firm, has raised $45M in a Series B fundraising round. The Israel based company has developed an AI platform that helps identify which patients would benefit from preventative interventions and improve the point of care.

The round was headed by StageOne investors, with Mayo Clinic participating, and the company became a Mayo Clinic Platform portfolio company as a result. Other existing investors include Technion – Israel Institute of Technology. Bradley Bloom, co-founder of Berkshire Partners and a strategic angel investor, also participated in this investment round.

Fund usage

The fresh funding will be utilised to drive product development, go-to-market growth, including sales and marketing investments, and other important hires within the business.

Radinsky founded Diagnostic Robotics in 2017 alongside Yonatan Amir and Prof. Moshe Shoham. Radinsky is the CEO, Amir is the President, and Shoham, the former founder of Mazor Robotics, which was sold to Medtronic for $1.6B in 2018, is the Engineering Director.

Diagnostic Robotics received $24M in a Series A round at the end of 2019, and the series was extended with a little sum last year. To date, the company has raised approximately $70M.

“Diagnostic Robotics is using the most precise predictive models, leveraging nuanced definitions of risk and shifting focus away from purely risk-based targeting to clinically-actionable targeting to not only change how health plans approach their members, but to drastically improve member clinical care journeys,” said Radinsky.

“We are incredibly excited to be partnering with Kira and the team as they expand and change the way health plans address risk, while helping to drive immensely improved care management for members,” added Yossi Vinitski, of StageOne Ventures.

Business model

Diagnostic’s primary business can be roughly split into two parts on the patient side, the company operates technology for regulating loads through automation in the reception of patients’ data, rapid diagnosis, and referrals for additional care in healthcare facilities; on the side of health organisations, the company developed a system for preventative medicine, based on the databases of the organisations and a larger historical picture — thanks to which it gives systems with information.

A number of data sources, including sensors on the patient’s body, lab test results, and analyses of his medical history in the computerised medical file, are all integrated by diagnostic systems in real time. It is crucial for the company’s staff to explain that this is anonymous data coming from many health organisations and that the system is one that is continually learning.

Hospitals, insurance providers, governments, and private businesses in Israel and around the world, such as the Mayo Clinic, Salesforce, Deloitte, the Israeli Ministry of Health, Clalit Health Services [HMO], Leumit Health Services [HMO], and others, are among the company’s clients.

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