QLOG Secures Seed Funding to Transform Healthcare Operations
27 Jun 2023
Proceeds to be used for international expansion in the US, UK and EU
TEL AVIV, Israel, June 27, 2023 /PRNewswire/ -- QLOG, an innovative healthcare technology provider, announced the successful completion of its seed funding round of $2.5M, led by eHealth Ventures and Sanara Capital. This investment will be used to support QLOG's expansion of international commercial activities.
QLOG's Healthcare Operations Platform has gained widespread adoption by over 40 hospitals in Israel and Europe. Now, with the newly secured funds, the company is poised to expand its market presence in the US, UK and EU.
In almost every health institution, the healthcare workforce is constantly required to spend a significant part of their time in chores unrelated to patient care. Complex and inefficient documentation, searching for equipment and data, locating supplies and scheduling tasks can take over 25% of nurses' and technicians' time.
The QLOG Healthcare Operations Platform redefines the communication pathways between healthcare providers and their workforce. QLOG creates real time, crowed-sourced data flow and visibility, enabling everyone better control, less waste, and an improved work environment. The system enables seamless asset tracking, staff workflow optimization and enhanced patient safety.
QLOG's solution encompasses Real-Time Location Systems (RTLS) and next generation Enterprise Resource Planning (ERP) systems. Combined with ultra-lightweight RTLS technology, the platform facilitates improved coordination and compliance, ultimately delivering better patient outcomes.
QLOG's Healthcare Operations Platform has been validated to drive enhanced quality of care and unprecedented overall improvements in:
Quality of care – up to 90% better compliance & safety
Staff workload – up to 80% reduction in workload & improved staff retention
Profitability – 45% better equipment utilization, 65% less supply loss & waste
Operational readiness – 85% more visible data, supporting decision making
0$ investment in infrastructure – no hardware or installation required
"QLOG is here to help improve the way healthcare is operating. We are proud to be making a huge impact, redefining both the communication channels between the organization and the workforce, and the way healthcare is managed" said Dr. Amit Lehavi, Founder and CEO of QLOG. "Our Healthcare Operations Platform has already displayed remarkable financial impact and quality improvements across Israel and Europe. This has shown a direct positive influence on patient care and nurses' burnout and retention. We look forward to expanding our capacity to improve healthcare and thank eHealth Ventures and Sanara for their trust and support in this mission."
Talor Sax, CEO of eHealth Ventures, shares: "QLOG is installed in 90% of Israeli hospitals and has become a mission critical system in all. The secret of QLOG is the unique combination of 'stickiness' and simple implementation and interoperability. We expect to see a high level of adoption all over the world."
"We're proud to invest in QLOG. We believe that this unique and innovative digital solution will transform the way hospitals work throughout the world, just as it already has in Israel" said Assaf Barnea, Sanara Capital's Managing Partner.
About QLOG
Committed to driving excellence in patient care, QLOG Technologies is an innovative healthcare technology provider, disrupting the healthcare management space. Specializing in crowd-sourced ERP and RTLS Hospital and Clinic Resource Management solutions, QLOG's revolutionary solution provides healthcare institution managers and stakeholders full data visibility. QLOG's Healthcare Operations Platform has been developed within the healthcare ecosystem. It optimizes equipment utilization; minimizes medication and equipment loss and waste and provides complete process visibility, significantly improving efficiency and patient safety.
eHealth Ventures is a unique, early-stage digital health fund that is focused on optimizing venture building. The fund utilizes a unique alliance of strategic healthcare partners providing access to healthcare partners, capital, and expertise. The Fund's highly skilled professional team supports clinical integration, business validation and commercial expansion of portfolio companies.
Sanara Capital is a Health-Tech fund, focusing on Israeli digital health, bio-convergence and medical devices startups, at their A-B investment round of financing. Sanara Capital is a follow-on fund to Sanara Ventures, a seed-stage investment platform supported by Philips and Teva with nearly 20 active portfolio companies.
Contact:
Dr. Amit Lehavi (CEO)
+972-50-2061419
Logo - https://mma.prnewswire.com/media/2141868/QLOG_Logo.jpg
SOURCE QLOG
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