Business & Tech
Digital Medical Tech Raises $1.5 Million
Funding to generate widespread growth for medical equipment tracking startup
Digital Medical Tech (DMT), a solution provider for hospital management and asset tracking, recently raised $1.5 million in seed capital. St. Louis, Mo.-based DMTI Capital Partners, LLC provided the funding which will be used to launch a nationwide engagement program for targeting healthcare providers and potential partnerships.
Digital Medical Tech, which enables health systems to proactively track medical equipment and devices via a Bluetooth platform, was founded in 2016 by CEO Matthew Nicholson. The company’s real-time location system monitors and manages medical assets while requiring less infrastructure and shorter installation time compared to other tracking solutions.
“Our technology platform ensures that medical equipment is delivered and tracked,” said Nicholson. “This type of tracking means instruments and equipment are instantly located to eliminate costly search time. It also reduces the hunt for lost or misplaced items while increasing patient safety thanks to this visual solution.” Nicholson added that “our state-of-the-art system benefits everyone within the healthcare institution–from security to department heads–by communicating if an asset remains idle or is removed from a specified zone.”
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Digital Medical Tech recently graduated from the Cedars-Sinai Accelerator business program powered by Techstars. The three-month Los Angeles program provides healthcare startups with $120,000 in funding, mentorship from more than 300 leading clinicians and executives, access to Cedars-Sinai, and exposure to a network of more than 10,000 entrepreneurs and investors.
Digital Medical Tech currently has pilot programs at Cedars-Sinai Medical Center in Los Angeles, Calif.; Keck Medicine of USC; and American Medical Concepts, an exclusive distributor for Stryker Corporation, in Portland, Ore.
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Digital Medical Tech
Founded in 2016 by CEO Matthew Nicholson, Digital Medical Tech utilizes a Bluetooth platform that delivers real-time asset location in order to track medical devices and equipment. DMT’s headquarters are located in Annapolis Md. with offices in Los Angeles, Calif. For more information, visit http://www.digitalmedical.tech or call (443) 623-2470.
