Perth technology entrepreneur Nathan Buzza has added to his investment in health informatics company Alcidion Corporation, which has raised $1.5 million to fund the expansion of its Miya platform.
Alcidion received funding from its co-founders Ray Blight and Malcolm Pradhan, alongside Blue Sky Private Equity and Mr Buzza’s private equity firm Allure Capital.
Mr Buzza, who is a 2003 Business News 40under40 First Amongst Equals winner, said he had come across a lot of technologies that were either poorly implemented or did not hit the mark over the past 25 years, but believed 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,” Mr Buzza said.
The Miya platform is designed for emergency departments, patient flow and outpatient services, and couples a holistic patient profile with customised best practice modules to help maximise efficiencies, avoid clinical errors and reduce costs.
Alcidion was backed by a $2.4 million investment by Blue Sky in 2012, which helped fund the development of Miya.
Since then, it has gone live in several sites, including three Western Health hospitals in Victoria.
Mr Blight, chief executive of Alcidion, 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.
“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.”
