Artificial Intelligence Powering Boom in Israel's Digital Health Sector

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TEL AVIV, Israel, 16 April 2019--Israel's reams of electronic medical records –health data on its population of around 8.9 million people-- are proving fruitful for a growing number of digital health startups training algorithms to do things like early detection of diseases and produce more accurate medical diagnoses. According to a new report by Start-Up Nation Central, the growth in the number of Israeli digital health startups –537 companies, up from 327 in 2014--has drawn in new investors, including Israeli VCs who have never previously invested in healthcare. This has driven financing in the sector to a record $511M in 2018, up 32% year on year. By the first quarter of 2019 the amount raised was already at $214M. Of the $511M, over 50% ($285M) went to companies in decision support and diagnostics which rely heavily on data crunching.