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Rcadia Medical Imaging Closes $3.3 Million Investment Led by BioVentures Investors
Date:12/15/2008

BOSTON, Dec. 15 /PRNewswire/ -- Rcadia Medical Imaging, Ltd., developer of the COR Analyzer(TM) software for the automated analysis of coronary CT angiography (CCTA) studies, has closed a $3.3M investment round led by BioVentures Investors of Cambridge, MA, Rcadia announced today. Existing investors, including 20/20 HealthCare Partners, also participated in the financing.

Developed by leading Israeli image processing scientists, the COR Analyzer(TM) enables rapid and effective triage of chest pain patients. Immediately after a Coronary CTA study, the COR Analayzer(TM) identifies patients who need further evaluation for severe coronary artery disease, versus those who can be safely discharged. While improving emergency department (ED) workflow, the Rcadia application also can lead to more rapid diagnosis, enabling appropriate treatments and avoiding unnecessary delays for patients without coronary artery disease.

Shai Levanon, Rcadia President and CEO, said that the proceeds of the financing will fund the full commercial launch of the COR Analyzer(TM) and the establishment of a U.S. office to support North American sales and marketing.

"We are extremely pleased to be partnering with BioVentures Investors in this financing round," commented Hillel Bachrach, Executive Chairman of the Board of Directors and Managing Partner at 20/20 HealthCare Partners. "BioVentures has unique expertise in the commercial development of advanced technology in the life sciences." (www.bioventuresinvestors.com)

Simultaneous with the financing, Peter Feinstein, General Partner, BioVentures Investors, and Alex Norbash, M.D., Chairman of Radiology, Boston University Medical Campus, have joined Rcadia's board of directors.

About Rcadia Medical Imaging

Rcadia Medical Imaging is the principal developer of automatic imag
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SOURCE Rcadia Medical Imaging, Ltd.
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