Australian veterinary tech company, Vedi [previously VetDB], secures $3 million in funding from two major international industry investors - MSD Animal Health, a division of Merck & Co., Inc., Rahway, N.J, USA, and Companion Fund - that is set to fund the expansion of their first-of-its-kind medical record technology in Australia and into the UK.
In a world-first, veterinary tech company, Vedi, is ringing in the new age of digital veterinary care with their universal medical record platform and smart data collection tools; similar to that of My Health Record, but for pets. In doing so, Vedi is enabling vets to access pet health records via the animal’s microchip, making their job incredibly effective and efficient.
“Vedi is radically improving the quality and accessibility of veterinary health data and creating a smarter, connected healthcare system,” says Dr Steve Joslyn, CEO of Vedi and specialty radiologist. “Vets have been anticipating the move to modern, digitised veterinary care for so long. We’ve taken it upon ourselves to become the trusted medical record that connects different veterinary providers so animals can access the best quality care anytime, anywhere.”
This latest round of funding, led by arguably two of the most respected animal health funds in the world, signals the serious industry backing behind the growing Australian vet-tech company.
"MSD Animal Health has supported Vedi from the early stages of their journey. We look forward to the growth and development of Vedi's microchip-enabled health record technology, which can bring more efficiency and accuracy in the management of health records to the veterinary community, while positively impacting the health and well-being of pets," says Oleksiy Nagorny, lead of Companion Animal Technology Solutions, MSD Animal Health.
In the vet practice, vets use Vedi to capture error-free health data with simple tools – like taking a photo of a vaccine vial with a smartphone – and locks the data to the animal’s microchip. Veterinary professionals can then access, share and update that information over the animal’s lifetime using the Vedi platform.
Vedi medical records are saving time for busy vets. They can now register a microchip, record vaccinations or submit pathology work in seconds.
“These kinds of processes previously required time-consuming admin like filling out forms, writing on samples or calling for a courier – with Vedi, they can be done at the touch of a button,” says Dr Joslyn.
For Companion Fund, Vedi is a promising technology that could expedite a new digital age of veterinary care.
“As a fund dedicated to the advancement of pet health, we see what Vedi is building as very compelling. By improving the accuracy of healthcare data, and allowing faster access, Vedi can dramatically enhance the efficiency and quality of the medical care delivered to our pets," says Cindy Cole, Technical Partner at Companion Fund.
In the long-term, Dr Steve Joslyn says the prospects of Vedi are even more exciting. “Collecting better quality health data over an animal’s lifetime will open the doors to research opportunities, biosecurity programs and novel lifesaving treatments,” explains Dr Joslyn. “Vedi means that soon animals and vets will have a better connected, streamlined healthcare system than the human world.”
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