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PHEMI Raises $2.8 Million Seed Financing Round to Advance Its Vision for Transforming Healthcare Delivery
Tuesday, March 25, 2014Company Profile | Follow Company
BDC Venture Capital, Yaletown Venture Partners and angel investors back PHEMI to pioneer Privacy by Design for Big Data
Vancouver, BC, March 25, 2014--(T-Net)--PHEMI Health Systems announced today the closing of a $2.8 million seed-financing round which will allow it to commercialize PHEMI Clinical - a patient care management platform that dramatically improves clinic productivity and patient outcomes, and PHEMI Central - a next generation data warehouse based on Big Data technology that incorporates sophisticated Privacy By Design principles to meet the unique demands of healthcare.
Investors included BDC Venture Capital, Yaletown Venture Partners and a number of strategic angel investors.
The PHEMI suite of products supports the collection, curation and analysis of many rich datasets of healthcare information for population health management, clinical study engagement, evidence-based care, post-market surveillance and quality and performance analytics.
“Over 70% of healthcare information is unstructured and difficult to mine for relevant insight using traditional methods,” said Dr. Paul Terry, CEO of PHEMI Health Systems. “PHEMI changes that. What we're offering now, essentially, is the ability to turn virtually any piece of patient information - physician letters, lab results, imaging, medication, previous treatment plans - into searchable information, thereby unlocking vast amounts of new data for clinicians, analysts and researchers to extract insights from. PHEMI helps turn healthcare data into strategic assets.”
He adds, “We have found a way to manage patient consent and balance an individual's privacy requirements with a healthcare organization's legitimate need for patient information. This drives improvements in clinical care, medical innovation, business decision-making and cutting-edge research.”
Dion Madsen, Senior Managing Partner of the BDC Venture Capital Healthcare Fund, agrees, “Healthcare is an industry rapidly adopting innovative technology to drive more efficient care delivery and this rising market demand has created a great opportunity for investment. We are very impressed with the experienced PHEMI team and believe that they can build another world-class company.
Mike Satterfield, Partner at Yaletown Venture Partners, comments, “Early results from PHEMI's pilots have been outstanding. PHEMI has an ambitious vision to bring privacy and security to Big Data, a bold approach that is set to change healthcare delivery models across North America.”
About PHEMI
PHEMI Health Systems is a process automation and Big Data platform company that unlocks patient data to improve clinic productivity, patient outcomes, and medical research. The PHEMI team architected PHEMI Clinical and PHEMI Central from the ground up specifically for healthcare, fully incorporating the 7 foundational principles of Privacy by Design as applied to Big Data. For more information, please visit www.phemi.com.
About BDC
With more than $1 billion under management and more than 25 years of industry experience, BDC Venture Capital is an investor of choice focusing on IT, health, and energy/clean technology companies, as well as venture funds, with high growth potential. From seed through expansion to exit, our mandate is to help build outstanding Canadian companies, while working to create a sound financial ecosystem for Canadian technology ventures. Find out more at www.bdc.ca/vc or on Twitter @BDC_VC.
About Yaletown Venture Partners
Yaletown uses its extensive industry and regional networks to seek out the most promising early-stage IT and Cleantech companies in Western Canada and the US Pacific Northwest. Founded in 2002, Yaletown's team has more than 120 years' collective experience financing and growing technology companies. Yaletown is headquartered in Vancouver, with offices in Calgary and Seattle. For more information, visit www.yaletown.com.
Contact:
PHEMI Health Systems Inc.
Adam Lorant
604-202-3488
alorant@phemi.com
BDC Venture Capital
Shawn Salewski
514-283-1759
shawn.salewski@bdc.ca
Yaletown Venture Partners
Mike Satterfield
604-800-2207
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PHEMI Leadership Team (Impressive)
PRESIDENT & CEO
Currently serving on the board of directors for Providence Health Care, Paul is the President, CEO, and board member at PHEMI. For the past 11 years, Paul also was the secretary/treasurer and technology adviser for the Michael Smith Foundation for Health Research - British Columbia's health research support agency. He was recently one of the Entrepreneurs-in-Residence at SFU Venture Labs and is currently a Partner with Magellan Angel Partners. Prior to his experience in health care and venture capital, Paul was the Chief Technical Officer and cofounder of OctigaBay Systems - a pioneer in high performance computing - which was acquired by Cray Inc, the world leader in supercomputing. He was also the cofounder and CTO of Abatis Systems, which was acquired by Redback Networks in one of the largest technology acquisitions in Canadian history. Paul's early career included senior roles at Newbridge Networks and at technology companies in the UK. Paul was awarded Canada's “Top 40 Under 40? award in 2000. He holds an MBA from the Cranfield School of Management, a marketing diploma from the Chartered Institute of Marketing, a PhD in Electrical Engineering and an honors Bachelor's degree from the University of Liverpool.
Adam Lorant
VP, MARKETING & PRODUCT MANAGEMENT
Adam co-founded and served as the VP Marketing/Product Management for several successful startups including PolarBlue Systems, OctigaBay Systems (acquired by Cray Inc in 2004) and Abatis Systems, which was sold to Redback Networks in 2000 as one of the largest private acquisitions in Canadian history. Throughout his entrepreneurial career, Adam has helped generate over one billion dollars for investors. He has over 25 years of experience in strategic marketing, product management and business innovation. Adam holds an MBA from the Ivey School of Business at the University of Western Ontario and a B.Sc. in electrical engineering from the University of Toronto. In 2000, Adam was honored with Canada's “Top 40 Under 40? award. Adam Lorant is a Partner with Magellan Angel Partners where he invests in and mentors high tech startups. He is also CEO In Residence with the Centre for Growth at the BC Technology Industry Association, coaching early stage high tech companies.
Greg Pruner
VP, CORPORATE DEVELOPMENT
Greg is an innovative and energetic entrepreneur with over 20 years of high-tech and cleantech industry experience in the capacities of CEO, Vice-President of Corporate Development and Sales Leadership across a range of start-ups and Fortune 500 companies including Xerox, Cisco Systems, EMC and SAP. After a successful sales career in high-tech, Greg founded Solaris Energy Partners, a renewable energy company that developed one of Ontario's largest solar farms (33MW). Greg also has extensive expertise in distribution and channel sales development, sales team management, international business development and corporate and project financing. He has worked extensively in Europe and is fluent in French. Greg holds an MBA degree from the Ivey School of Business at the University of Western Ontario and a Bachelor of Science (Engineering) degree from the University of Waterloo.
Doug Lyons
VP, BUSINESS DEVELOPMENT
Doug leads the Canadian sales team at PHEMI. He has twenty years of experience in sales, business development and channel management during which he has helped large, complex organizations solve a variety of business problems through the application of emerging technology solutions. Doug has driven revenues for several startup and emerging technology companies - including Abatis Systems and Dyaptive systems, as well as industry leaders - Signatel and Nortel Networks. More recently, Doug provided his expertise to several companies offering mobile and SaaS-based technology solutions. Doug holds an Honors Business Administration (HBA) degree from the Ivey School of Business at the University of Western Ontario. Prior to entering the HBA program, Doug pursued Computer Science and Financial Studies.
John Seminerio
BOARD CHAIR
A serial entrepreneur, John chairs the board of directors at PHEMI, and also serves as the Managing Partner of Magellan Angel Partners. John was previously the President and CEO of Cray Canada, which was formed after the acquisition of OctigaBay Systems in April 2004 by Cray Systems - the worldwide leader in supercomputing. Before OctigaBay, John was the President & CEO of Abatis Systems Corporation, a Vancouver technology telecommunications vendor acquired in September 2000 by Redback Networks for $1.3 billion CND. John has over 27 years of experience in the telecommunications, networking, and high-performance computing industries and has held leadership roles in the sales, marketing and business development aspects of several early phase companies. He has also held senior positions in large industry leaders like DSC Communications and Nortel Networks. John holds a Bachelor's degree in Systems Engineering from the University of Waterloo and an MBA from the University of Southern Mississippi. He has been honoured with the British Columbia Technology Industries Association “Person of the Year” award in 2004, and was recognized by the University of Waterloo with an Alumni Achievement Medal for his contributions to the Canadian high tech community.