# MedCurrent Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/medcurrent

- Industry: Healthcare IT
- Headquarters: Toronto, Canada
- Website: www.medcurrent.com
- Total disclosed funding: $2.2M
- Latest round: Series A (Mar 7, 2013)
- Investors on record: 1

## About

MedCurrent Corporation develops clinical decision support (CDS) software solutions that integrate evidence-based guidelines into electronic health records, improving patient outcomes and optimizing diagnostic pathways in healthcare.Founded in 2003 and headquartered in Toronto, Canada, MedCurrent Corporation specializes in clinical decision support solutions. The company has undertaken strategic initiatives to enhance its software offerings and has completed a total of 5 funding deals. In July 2016, MedCurrent raised USD 2.8 mn in funding led by FedDev Ontario. Steve Herman, the CEO and founder, has focused the company on delivering high-value tools for healthcare providers, without previous known ventures.MedCurrent specializes in clinical decision support (CDS) software solutions that seamlessly integrate evidence-based guidelines into electronic health record (EHR) and order entry systems. The core product offerings include iRefer CDS, which incorporates the iRefer guidelines from the Royal College of Radiologists (RCR) to assist clinicians in determining the most suitable imaging investigations. Other products include Imaging OrderWise, which encompasses imaging and echocardiography referral guidelines, and Lab OrderWise, which integrates lab and pathology referral guidelines from various sources. MedCurrent’s solutions are actively employed by over 80 healthcare customers, including 60 NHS Trusts in England, and are recognized for improving patient outcomes, managing healthcare costs, and reducing unnecessary diagnostic tests. Their customer base extends across multiple geographical markets, including Australia, Canada, the United Kingdom, and the United States, showcasing the company’s commitment to enhancing healthcare delivery on a global scale.MedCurrent's revenue model is primarily centered around B2B transactions, with clients typically comprising hospitals, healthcare systems, and other medical institutions that utilize their CDS platforms. The company structures its transactions through subscription-based services, allowing clients to access their software solutions for a set period, often accompanied by support and analytics capabilities. This model facilitates ongoing relationships with healthcare providers and allows for continuous updates and improvements within their software platforms. Specific pricing plans are tailored to the needs of individual clients, reflecting the diverse nature of their product offerings, such as iRefer CDS, Imaging OrderWise, and Lab OrderWise. Each of these solutions is designed to optimize diagnostic referral pathways while ensuring compliance and enhancing clinical efficiency, contributing to the overall financial health of the organization through sustained user engagement.MedCurrent plans to utilize its most recent funding of USD 2.8 mn, raised in July 2016, to support the development of new CDS products and expand into additional international markets. Specific plans include enhancing their current offerings and exploring entry into healthcare sectors in Europe and Asia by 2024. The company aims to leverage this funding to enhance its technology infrastructure and establish a stronger presence in under-penetrated markets.

## Funding rounds

- Series A, Mar 7, 2013, $2.2M — BDC Capital

## Investors

- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series A