Medigate raises funds to boost medical device security offering

16 September 2020 (Last Updated September 16th, 2020 11:51)

US-based medical device security and asset management company Medigate has secured $30m as part of its Series B round led by new investor Partech.

Medigate raises funds to boost medical device security offering
Medigate’s solution is designed to automatically locate, identify and manage the security posture of all devices connected to the network. Credit: Fernando Zhiminaicela / Pixabay.

US-based medical device security and asset management company Medigate has secured $30m as part of its Series B round led by new investor Partech.

The round, which takes Medigate’s total funding to $50m, was joined by its existing investors YL Ventures, US Venture Partners (USVP) and Blumberg Capital, along with new investor Maor Investments.

Medigate said it will use the investment to fulfil its vision of becoming healthcare’s security and clinical analytics company.

The healthcare organisations are currently scaling up their digital strategies to include technology such as wearable devices designed for patient monitoring and mobile devices used for telehealth.

Offering a single solution will enable them to reinforce their security stance and provide analytics that will boost their operational efficiencies and organisational effectiveness, and help them enhance patient experiences and reduce CapEx and OpEx, the company noted.

Medigate’s solution is designed to automatically locate, identify and manage the security posture of all devices connected to the network while ensuring patient safety and privacy.

Additionally, it powers clinical engineering with the device data to enable healthcare organisations to manage their fleet of medical devices.

Medigate CEO and co-founder Jonathan Langer said: “Partech is a very sophisticated technology investor. With their backing, we will be able to quickly expand to help healthcare organisations around the world experience the same ROI as those in the US.

“We are very appreciative of the continued support we receive from our investors at YL Ventures, USVP and Blumberg Capital and are excited to add Partech and Maor Investments to our team as we enter in the next phase of our growth.”

In March, Medigate partnered with Forescout Technologies to help secure the Internet of Medical Things (IoMT), the Internet of Things (IoT), operational technology (OT) and IT network-connected devices.

Meanwhile, marking another major development in the North American medical device industry, Canadian company 7D Surgical completed the largest financing round to date.

The investment will support the company’s international expansion plans and its effort for the expansion of current operations and product portfolio.

7D Surgical develops advanced optical and machine-vision technologies for surgical navigation. The round follows the company’s commercialisation in the US and its recent expansion in Southeast Asia.