Australian health informatics company, Alcidion Corporation, has raised $1.5 million to fund the expansion of its clinical decision support platform, Miya.
Blue Sky Private Equity, Allure Capital and Alcidion co-founders Ray Blight and Malcolm Pradhan were behind the most recent funding.
In 2012, Alcidion was backed by a $2.4 million investment by a fund managed by Blue Sky Private Equity, which helped fund the development of its clinical decision support ‘Miya’ platform.
Designed for emergency departments, patient flow and outpatient services, Miya couples a holistic patient profile with customised best practice modules.
The unique combination helps clinical and allied health staff maximise efficiencies, avoid clinical errors and reduce costs.
Miya has gone live in several sites, including three Western Health hospitals in Victoria.
Alcidion has since been awarded significant contracts to deploy the platform at the Departments of Health in Tasmania and the Northern Territory.
Alcidion chief executive and former Chair of the SA Health Commission, Ray Blight, said real-time clinical decision support was one of the most critical challenges facing hospitals.
“As the healthcare industry evolves, hospitals and clinicians need high-precision, high-value decision support at the point-of-care," he said.
"Health IT will play an integral role in sustainable health care delivery,” he said.
“Our customers are excited about using the Miya platform as an enterprise decision-support solution.
They have the flexibility to add incremental modules without the burden of costly and cumbersome implementation processes or the need to purchase different departmental products.”
Blue Sky Private Equity director, Alexander McNab, said increasing pressures were being placed on healthcare around the world as the population grows and ages.
“The only way hospitals, clinicians and carers can work sustainably is by using innovative technology to help increase productivity and improve quality of care,” he said.
“Alcidion has a strong and experienced team at the helm and has invested millions into developing a world class solution. Miya represents one of the most significant innovations in clinical decision support the industry has seen in decades and the newly-raised capital will help bring the breakthrough solution into the mass market.”
Blue Sky is investing alongside technology entrepreneur, Nathan Buzza, who has helped develop global clinical middleware solutions, and his private equity firm Allure Capital.
Buzza said over the last 25 years he had come across a lot of technologies which were either poorly implemented or did not hit the mark, but Alcidion stood out from the healthcare technology crowd.
“One of the greatest challenges in healthcare is providing a high quality of interoperability with the myriad of clinical systems that are installed throughout the global healthcare ecosystem, and that’s what Alcidion has done exceptionally well with the Miya platform,” he said.