Digital Medical Tech Secures $1.5M Seed Funding to Advance Healthcare Asset Tracking Platform

On August 26, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media that U.S. medical technology company Digital Medical Tech (DMT) announced the completion of a $1.5 million seed funding round. The investor in this round was DMTI Capital Partners.

DMT plans to use the proceeds from this financing round to launch a nationwide program targeting healthcare providers and potential partners, and to further develop its medical asset tracking platform.

DMT, founded in 2017 and headquartered in Los Angeles, USA, primarily provides hospital management and asset tracking solutions. The company has developed a platform system capable of tracking medical equipment via Bluetooth Low Energy (BLE) beacons. DMT’s Real-Time Location System (RTLS) enables the monitoring and management of medical assets, eliminating the need for barcode scanning or time-consuming equipment searches. Compared with other tracking solutions, this system requires less infrastructure and offers faster installation.

DMT has recently received support from the Cedars-Sinai Accelerator business program, is currently conducting a pilot project at Cedars-Sinai Medical Center in Los Angeles, California, and serves as the exclusive distributor for the Keck School of Medicine of USC, American Medical Concepts, and Stryker Corporation. The company also maintains an office in Los Angeles, California.

The platform system developed by DMT manages surgical scheduling, vendor communications, and medical equipment tracking. Hospital staff can easily track and manage assets, schedule surgeries, and generate reports through a web portal. DMT has successfully deployed its software at the University of Maryland Medical System and MedStar Health, and has developed numerous websites and applications.

Matthew Nicholson, CEO and Founder of DMT, previously served as an Associate Representative at Johnson & Johnson, where he was named Representative of the Year for his region. Nicholson stated, “Our technology platform ensures the delivery and tracking of medical devices, enabling immediate localization of instruments and equipment to eliminate time-consuming searches. This solution also reduces the effort spent locating lost or misplaced items, thereby enhancing patient safety. Our state-of-the-art system benefits everyone within healthcare institutions.”

Headquartered in St. Louis, Missouri, USA, DMTI Capital Partners is a venture capital firm primarily investing in startups in the healthcare sector. This investment in Digital Medical Tech (DMT) marks the firm’s inaugural investment.

(Compiled by Hu Yifan)