Burlington, VERMONT (December 15, 2021)—THINKMD, a Vermont-based healthcare technology company, has been awarded a $2.3 million technology development grant by the Bill & Melinda Gates Foundation and has closed a $4 million financing round led by health technology investors.
THINKMD is a social impact, mission-driven technology company focused on making its clinical intelligence technology universally available so that anyone, anywhere can make better healthcare decisions for themselves and their communities. The company’s solutions are currently active in 10 countries and help any user identify how sick a person is, what illness they may have and what next steps to take. Validation studies have demonstrated that THINKMD’s clinical assessments and triage recommendations correlate up to 95% with those of healthcare professionals.
The Bill & Melinda Gates Foundation grant will support the next phase of THINKMD’s technology expansion, including the development of a clinical decision support Fast Healthcare Interoperability Resources (FHIR)-based clinical Application Programming Interface (API) that will help globally scale its technology. The grant will also accelerate the company’s machine learning and data analytics efforts, as well as field-based implementations of THINKMD’s solutions to demonstrate scalability and impact.
“Support by the Bill & Melinda Gates Foundation allows for exploration of the multitude of ways that THINKMD’s clinical intelligence API can be globally distributed,” said Dr. Barry Finette, co-founder of THINKMD. “These funds will allow us to adapt our proven model into a variety of contexts and settings, and continue to scale and increase the health impact we are striving towards.”
The company, which recently appointed Chris Powell, a veteran digital healthcare executive, as CEO, also finalized a $4 million equity investment round in October. This injection of capital will enable the company to enter its next phase of growth. Investors in the round include Save the Children Federation and Save the Children Impact Fund Ltd.
“Now more than ever, we need to enable a frontline healthcare workforce with the tools to offer clinical quality to those most often left behind in the health response,” said Chris Powell, THINKMD’s CEO. “We feel privileged that global health leaders recognize that THINKMD’s solution can help close some of the gap.”
President and CEO of Save the Children, Janti Soeripto, said, “The power of innovation to improve health outcomes for children cannot be overstated. In the countries where we work, quality healthcare is often restricted due to the shortage of healthcare providers or limitations on healthcare delivery. We are excited to partner with THINKMD to help achieve a future where no child under five dies of preventable causes.”
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About THINKMD
THINKMD’s mission is to make clinical intelligence technology universally accessible so that anyone, anywhere can make better healthcare decisions for themselves and their communities. A social impact company based in Burlington, Vermont, THINKMD’s clinical intelligence technology helps any user identify how sick a person is, what illness they may have and what appropriate next steps to take. The scientifically validated technology, which also addresses the COVID-19 pandemic, uses World Health Organization (WHO) compliant guidelines. THINKMD empowers users, healthcare delivery organizations and governments with acquired data that informs accurate clinical and public health decision-making. THINKMD is currently active in 10 countries (Bangladesh, Indonesia, Zambia, Kenya, Togo, Sudan, Somalia, Nigeria, South Africa and the USA). Learn more at www.thinkmd.org.
