Australian healthcare technology start-up Heidi has secured US$65 million in a new funding round, as it aims to expand its workforce and establish offices in Hong Kong and Singapore to capitalise on the growing demand for medical artificial intelligence technology in the region.
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The company is valued at US$465 million following its series B round announced on Monday, led by Point72 Private Investments, a global alternative asset manager.
The six-year-old start-up planned to build a team of about 15 to 20 people in Hong Kong and Singapore by the end of next year, depending on market traction, with a central office to be established in one of the two cities, according to CEO and co-founder Thomas Kelly.
Heidi’s self-developed AI-enabled platform was designed to transcribe consultations between medical professionals and patients into clinical notes to reduce doctors’ administrative workloads. This would allow them to focus more on patient care and enhance hospital operational efficiency, the company said.
Hong Kong has a large patient population but a relatively small number of doctors, according to Kelly, a former doctor. “If we can increase the capacity of clinicians, it’s going to make a much bigger impact than in places like Australia,” he said.
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Heidi said its data showed nearly 20,000 and 55,000 consultations had been conducted through its platforms in Hong Kong and Singapore, respectively. “That was before we’d even launched here,” Kelly said.