Medicai, a Romanian provider of software and infrastructure solutions for medical imaging and part of GapMinder Ventures’ investment portfolio, estimates that US revenues will represent 50% of its business by the end of 2025, from 30% currently and 10% at the beginning of this year.
The company was founded in 2019 by Mircea Popa (CEO), Alexandru Artimon (CTO), and Andrei Blaj (COO).
In 2023, Medicai relocated its operations to the US and began rapid expansion into this market the following year.
Medicai develops a cloud-native health data platform that enables doctors, clinics, and hospitals to securely store, manage, and share medical images and health data with physicians, collaborators, and patients. Acting as a versatile cloud-based PACS platform, which connects to imaging equipment (such as CT, MRI, or X-ray machines), it allows doctors to access and analyze images and medical data directly from the web or a mobile application.
Clients also frequently use the Medicai platform for teleradiology, optimizing the time radiologists spend interpreting imaging studies, and for multidisciplinary tumor boards. Overall, the platform is primarily used by healthcare providers, as well as by US attorneys specializing in personal injury or workers’ compensation.
Medicai’s clients are generally health services providers that generate or consume medical imaging (radiology, neurology, oncology, orthopedics) and often manage multiple locations or work with a large network of partners or suppliers. It is also used by attorneys working in the field of personal injury or workers’ compensation, veterinary clinics, companies offering industrial imaging services, and pharmaceutical/medical research companies conducting multicentric clinical trials.
Medicai has 70 customers in Romania, the US, the UK, and India. At the same time, the company is in advanced discussions with potential customers in Spain, Brazil, Germany, France, Austria, Saudi Arabia, and Costa Rica.
Last year, Medicai had five clients in the US; now it has 25, and by 2025, the company’s management expects to have 50 clients in the US, more than in Romania. At the same time, in the last year, Medicai has increased its recurring revenue from the US fourfold and expects a 10-fold increase in 2025 versus 2024.
“We know we can grow significantly because the medical sector is increasingly responsive to technological innovations, and we will take advantage of this trend. Customers in the US make decisions very quickly, and we sign contracts in less than a month from the first contact,” said Andrei Blaj, Co-founder and Chief Operating Officer of Medicai.
The company’s expansion into the US market represented an investment of approximately EUR 200,000. Medicai has 11 employees in Romania and one person in Florida, US.
(Photo source: press release)
Leave a Reply