Introducing the Cypriot startup MEDTL

“The motivation behind our solution stems from the global health crisis marked by undiagnosed or belatedly diagnosed cardiac issues leading to cardiac arrests. After listening to cardiologists and industry providers, we have developed a revolutionary AI Platform that provides a fast and accurate solution to the problem,” says Constantinos Matheou, Founder & Managing Director of Medical Technologies Ltd (MEDTL).

MEDTL embodies the idea that humanity paired with technology can save lives. It is a dynamic startup with five years’ experience in developing cutting-edge AI software tailored for Telemedicine and Healthcare. The company’s in-house technology powers a global telemedicine Platform, offered as a SaaS, facilitating the creation of reliable, scalable and recurring revenue streams.

“Cardiovascular Disease (CVD) is the number one cause of death amongst non-communicable diseases, representing 31% of all global deaths,” indicates Matheou. Overall, CVD is estimated to cost the EU economy €210 billion a year, of which more than half – 53% (€111 billion) – is due to healthcare costs, 26% (€54 billion) to productivity losses and 21% (€45 billion) to the informal care of people with CVD.

“Our innovative Turnkey SaaS Cloud solution transforms CVD diagnosis for healthcare professionals. With a remarkable benefit-to-cost ratio, we achieve a minimum of 70% cost reduction in diagnosing arrhythmia-related CVDs. Our platform seamlessly integrates with any ECG recording device, enabling doctors to move away from traditional methods and provide real-time patient monitoring and treatment. Within less than a minute of receiving a patient's ECG raw data, our customers have access to a complete analysis, optimizing CVD diagnosis response time with at least 99% accuracy,” Matheou enthuses. The platform detects 22 cardiac ECG Cardiovascular arrhythmias and generates 24-hour reports in just one minute. The ECG summary report includes heart rate, bradycardia, pauses, ventricular and supraventricular rhythm analysis, along with statistics.Top of Form

The road is long, and in order for MEDTL to scale its solution, it requires €1.2 million in funding. “Having secured grants and engaged with potential investors and venture capital firms, MEDTL is set to accelerate its development and expand internationally,” says Matheou outlining his plans. The investment will be strategically distributed across three key areas: (1) team enhancement, by bolstering the R&D team with top talent to maintain a competitive edge; (2) obtaining essential certifications such as CE (MDR/2017) for regulatory compliance to ensure that the platform meets industry standards; and (3), promotion through participation in medical events, engaging and expanding partner channels for a wider outreach.

While admitting that it won’t be easy, Matheou is determined to use smart technology to save and enrich the lives of those around him. “We're committed to innovation, compliance and effective promotion to meet the evolving needs of our clients and the industry,” he says. “MEDTL is dedicated to saving people's lives.”

Founder: Constantinos Matheou.

What is it? An Innovative Artificial Intelligence SaaS Medical Cloud Platform, for delivering enhanced ECG Services to Healthcare Professionals and Consumers globally.

Stage: Seed.

Funds received: €1,000,000

What it aspires to become: A solution that saves lives and has a significant social impact by revolutionizing healthcare through increased efficiency, cost-effectiveness and superior patient care.

Funds needed: €1,200,000.

Awards: Pre-seed Grant and Innovation Certificate.

This interview first appeared in the October edition of GOLD magazine. Click here to view it.