VC Prescribes $9M for Amicas

Amicas, a Newton, Mass., company that helps medical workers send and manage images over the Internet, has raised $9
million in third-round financing for software development and sales and marketing.

Canaan Partners of Rowayton, Conn., and Menlo Park, Calif., was lead investor. Since its founding in May 200, the privately held firm has raised $21 million.

“Amicas pioneered the use of Internet technology for managing diagnostic images, and we are pleased to see that our approach has been endorsed by
many vendors and hospitals and now by Canaan Partners,” said Hamid Tabatabaie, Amicas president and CEO.

The company’s technology lets users capture, organize, index, transmit, view and store medical images. The company will soon introduce the latest in Internet PACS
in three product packages: Personal Office, Radiology Office and Enterprise Office. All include Amicas’ JPEG 2000, a viewer used for primary diagnosis or clinical

“The company has shown impressive growth, which we attribute to its ability to address the needs of a variety of facilities, ranging from large hospitals to independent
imaging centers,” said Seth Rudnick, M.D., a Canaan venture partner concentrating on health care deals.

As part of Canaan’s investment, Rudnick joins Amicas’ board of directors.

Amicas does not release detailed financial information, but it said its customer base grew nearly 40 percent during the last two quarters of 2001. The 6-year-old firm
now has 100 installations in 21 states and five countries.

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