Lifetrack Medical Systems runs a platform that enable rapid transmission, aggregation, and access of medical images from multiple sites

Singapore-headquartered healthtech startup Lifetrack Medical Systems today announced that it has raised a US$5.2 million Series A funding round led by UOB Venture Management (UOBVM) through its Asia Impact Investment Fund (AIIF).

Global tech giant Philips and existing investor Kickstart Ventures also participated in the funding round.

The startup plans to use the funding to support its international growth and build on its LifeSys medical imaging platform, which enables rapid transmission, aggregation, and access of medical images from multiple sites, including remote rural areas.

It aims to solve the problem of access to medical facility in remote rural areas, particularly radiology, by using off-the-shelf consumer hardware and consumer DSL or 4G.

Traditional radiology software (RIS/PACS) requires expensive server hardware, workstations, and high-speed bandwidth, constraining access to diagnostic imaging in less developed countries.

Also Read: Philippine medtech startup secures Kickstart Ventures funding

Lifestrack Medical Systems CEO and Founder Eric Schulze, MD, PhD, is a practicing radiologist and member of the American Board of Radiology.

In 2003, he co-founded one of the first teleradiology companies in the US, 24/7 Radiology. The company has exited in 2011 to Alliance Imaging.

Schulze then founded Lifetrack Medical Systems shortly after to “completely rethink how radiology software could be architected from the ground up.”

“We started this journey with medical imaging in emerging markets such as the Philippines where needs are greatest, resources are scarcest, and demand for high-quality affordable healthcare is growing because of the rapidly expanding middle class. Our new investors embrace that vision and mission, and we’re excited to move into this next phase with them as our partners,” he explained in a press statement.

Their platform is currently being used in over 10 countries in Asia, North America, Europe, and Africa.

Also Read: ASEAN Rice Bowl Startup Awards 2017 unveils 89 regional finalists

For lead investor UOBVM, the investment into Lifestrack Medical Systems was made through its Asia Impact Investment Fund (AIIF).

With Credit Suisse as its impact advisory partner, the fund aims to support growth companies in Southeast Asia and China that address key social challenges and improve lives in low income communities.

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Image Credit: Owen Beard on Unsplash

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