DICOM Grid Secures $5 Million in Financing and Hits Business Milestones

Funding to help company expand distribution of its software-as-a-service (SaaS) product line for managing diagnostic imaging and related health data

May 16, 2012, 07:30 ET from DICOM Grid

PHOENIX, May 16, 2012 /PRNewswire/ -- DICOM Grid, provider of a cloud software-as-a-service (SaaS) platform for medical imaging applications, today announced the close of a $5 million financing expansion round led by Canaan Partners, CHL Medical Partners and existing individual investors. The funds will be used to expand distribution of DG Suite, the company's product line for managing diagnostic imaging and related health data.

The company also announced the signing of two new hospitals, Frederick Memorial Hospital in Frederick, Maryland and Ella Health, a next-generation women's health center in Harrisburg, Pennsylvania, the expansion of its relationship with Texas Medical Center, the opening up of DG Suite to third-party developers, and the milestone that it has now more than 450 million images under management, growing at close to 1 million images per day.

"Winning the confidence of customers like Frederick Memorial and Ella Health, third party developers and investors reflects our successful execution of a clear strategy," Morris Panner, CEO of DICOM Grid said.  "Online banking and business software solutions like salesforce.com have revolutionized business operations.  Healthcare is on the cusp of a similar revolution, and our diagnostic medical imaging storage technologies can be a part of that sweeping market change."

"DICOM Grid was the only logical infrastructure choice for our women's health center," Joe Hoban, CEO of Ella Health said.  "The cost savings were remarkable, but the functionality it provides for us to deliver next-generation imaging studies rapidly to our patients is even more important and core to our mission."

DICOM Grid enables seamless workflow and storage for medical imaging and related data.  Clinicians and patients can get real-time access to images, such as X-rays, CT scans or MRIs, on any device.  In addition, clinicians and patients can upload images from a CD using any conventional PC or Mac.  The DG storage solution dramatically reduces costs by offloading long-term storage and using onsite storage solutions for near-term studies only.  This is in sharp contrast to existing schemes for managing imaging data, which are extremely expensive and which make it difficult to share data between medical offices.

"DICOM Grid's open software-based platform for diagnostic imaging challenges everything that today's market leaders are doing," said Dr. Stephen Bloch, General Partner at Canaan Partners and a board certified radiologist.  "Its product suite will result in a dramatically better patient experience and financial outcome for hospitals and imaging centers.  Health IT companies that are developing solutions that break down financial barriers and improve patient care represent the types of investments that we want to make."

DG Suite, the company's flagship product line, enables hospitals, imaging centers and doctors to eliminate traditional costs and hassles associated with sharing, exchanging and storing diagnostic imaging. DG Suite is now operating at more than 40 hospitals throughout the United States with more than 450 million diagnostic images stored in the DICOM Grid infrastructure.

With the inauguration of its developer platform, third-party developers can now take advantage of DICOM Grid's next generation imaging platform, DG Suite.  Specifically, developers can now easily add advanced DICOM Storage and viewing capabilities to their existing applications, including electronic medical records as well as other consumer health information sites.  Developers can contact API@dicomgrid.com for more information. 

"We chose DICOM Grid to dramatically reduce our storage costs and to provide innovative workflow to better serve our clinicians and patients in an era of information exchange and accountable care," David Quirke, CIO of Frederick Memorial Hospital.

About DICOM Grid

DICOM Grid is a cloud platform for medical imaging applications with patented data security. Your medical imaging information is stored in a clinical data warehouse and easily accessed through secure web applications. Now you can safely and easily deploy applications for vendor-neutral archive, zero footprint viewing, image exchange, business continuity, EHR - PHR image enablement, and more.

The DICOM Grid solution provides cloud-based continuity for 24/7 access to images and reports with enterprise-wide image distribution.

Discover what DICOM Grid can do for your healthcare enterprise at http://www.dicomgrid.com