Slovak MedTech Powerful Medical secures €7.5M to bring its AI-driven ECG to the next level
Powerful Medical, a Slovakian medtech startup, has recently made headlines by securing a €7.5M funding package, which includes a €2.5M grant and an additional €5M investment from the European Innovation Council (EIC). This funding comes as a recognition of the company’s groundbreaking work in cardiovascular diagnostics, standing out among over a thousand applicants. Founded in 2019 by a team of visionaries including Martin Herman, Dr. Robert Herman, Felix Bauer, Viktor Jurasek, and Simon Rovder, Powerful Medical is on a mission to combat cardiovascular diseases using its AI-driven ECG platform, PMcardio.
Th certified medical device of Powerful Medical specializes in analyzing 12-lead ECG images to detect acute heart attacks and 38 other cardiac abnormalities right from the initial point of contact, addressing one of the leading global causes of death. The integration of PMcardio into hospital workflows has proven to be a game-changer, streamlining triage and offering an AI-augmented patient assessment pathway that enables prompt interventions for acute conditions, ultimately enhancing outcomes and boosting efficiency for healthcare institutions. By leveraging the power of AI and comparing results to millions of previous patient records, PMcardio fills a crucial gap in healthcare, facilitating early and precise diagnoses that can potentially save lives.
Dr. Robert Herman, the Chief Medical Officer at Powerful Medical, has highlighted the broader impact of their technology, emphasizing its potential to contribute to the future well-being of patients. “Our AI models in development focus on ECG-based screening for heart failure in asymptomatic patients presenting for routine check-ups with their GP, as well as early recognition of sudden cardiac death predictors,” Dr. Herman explained. This forward-thinking approach demonstrates the company’s commitment to pushing boundaries and exploring new possibilities in the field of cardiovascular diagnostics.
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The recent influx of capital from the EIC grant and investment is a significant milestone for Powerful Medical, as it paves the way for the company’s commercialization plans. With a focus on intensifying clinical validation efforts and expanding its presence across Europe, Powerful Medical is strategically positioning itself for a global reach. As FDA approval is pending and ongoing pilots are taking place in the US, the company is gearing up for the next phase of growth and expansion. Martin Herman, the CEO of Powerful Medical, expressed his gratitude for the EIC’s support, highlighting the role of this investment in fueling the company’s ambition to save lives on a global scale. “This investment propels our mission to broaden our reach within the EU and pioneer entry into the US market,” Herman stated.
With a clear focus on accelerating the development of its AI-driven platform, PMcardio, and expanding its impact on cardiovascular disease diagnosis and treatment, Powerful Medical is poised to make a lasting impact on patient outcomes worldwide. The success of Powerful Medical serves as a testament to the power of innovation and collaboration in the healthcare industry. By harnessing the potential of AI technology and pushing the boundaries of traditional diagnostics, the company is paving the way for a future where early and precise diagnoses are within reach for patients around the globe. As Powerful Medical continues to expand its reach and impact, the potential for saving lives and improving patient outcomes remains at the forefront of its mission.
