Powerful Medical, a Slovakian medtech startup, has announced securing a €7.5M funding package, comprising a €2.5M grant and an additional €5M investment from the European Innovation Council (EIC). The company, recognized for its groundbreaking work in cardiovascular diagnostics, was selected from over a thousand applicants.
Founded in 2019 by Martin Herman, Dr. Robert Herman, Felix Bauer, Viktor Jurasek, and Simon Rovder, Powerful Medical is combating cardiovascular diseases with its AI-driven ECG platform, PMcardio. This certified medical device analyzes 12-lead ECG images to detect acute heart attacks and 38 other cardiac abnormalities at the initial point of contact, addressing the leading global cause of death.
By comparing results to millions of previous patient records, PMcardio fills a crucial gap in healthcare, enabling early and precise diagnoses. The integration of PMcardio into hospital workflows streamlines triage, offering an AI-augmented patient assessment pathway that facilitates prompt interventions for acute conditions, enhancing outcomes and boosting efficiency for institutions.
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Expanding Impact Beyond Immediate Treatment
Dr. Robert Herman, Chief Medical Officer at Powerful Medical, emphasized the broader impact of their technology, extending into the future well-being of patients. “Our AI models in development focus on ECG-based screening for heart failure as early as asymptomatic patients presenting for a routine check-up to their GP and early recognition of sudden cardiac death predictors,” Dr. Herman added.
Utilizing Capital for Commercialization and Expansion
The EIC grant and investment are pivotal for Powerful Medical’s commercialization plans. The company is intensifying clinical validation efforts and expanding its presence across Europe. With FDA approval pending and ongoing US pilots, Powerful Medical strategically positions for a global reach.
Martin Herman, CEO of Powerful Medical, expressed gratitude for the EIC’s support, propelling the company closer to its mission of saving lives on a global scale. “This investment fuels our ambition to broaden our reach within the EU and pioneer entry into the US,” Herman stated.
With this significant funding, Powerful Medical is set to accelerate the development of its AI-driven platform, PMcardio, and expand its impact on cardiovascular disease diagnosis and treatment, saving lives and improving patient outcomes worldwide.
