News | May 18, 2012

DICOM Grid Secures $5 Million in Financing, Reaches Milestones

Funding to help company expand distribution of product line for managing diagnostic

May 18, 2012 — DICOM Grid, provider of a cloud software-as-a-service (SaaS) platform for medical imaging applications, this week 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, Md., and Ella Health, a next-generation women's health center in Harrisburg, Pa. – as well as the expansion of its relationship with Texas Medical Center, the opening up of DG Suite to third-party developers and the milestone of more than 450 million images now 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," said Morris Panner, CEO of DICOM Grid. "Online banking and business software solutions like 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 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, computed tomography (CT) scans or magnetic resonance images (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 reduces costs by offloading long-term storage and using on-site storage solutions for near-term studies only. This is in sharp contrast to existing schemes for managing imaging data, which are extremely expensive and make it difficult to share data between medical offices.

DG Suite, the company's flagship product line, enables hospitals, imaging centers and doctors to eliminate traditional costs 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 DG Suite. Specifically, developers can now easily add advanced DICOM storage and viewing capabilities to their existing applications, including electronic medical records (EMRs) as well as other consumer health information sites.

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