Matrix Analytics Receives Mark Cuban Investment
DENVER, March 3, 2017 /PRNewswire/ — Matrix Analytics, creator of LungDirect, closes seed round with an investment from Mark Cuban. The capital will be used to increase distribution of LungDirect, the only automatic registry software system enabling hospitals to track pulmonary nodule patients from detection through diagnosis.
An estimated 1.5 million pulmonary nodules are detected by CT scans each year. This creates a burden on healthcare systems and a complex management problem, which is exacerbated by hospital IT infrastructure not designed to capture nodule patients. Roughly 4% of nodules will be malignant, however 85% of lung cancer is diagnosed late stage, and kills more people each year than breast, prostate, and colon cancer combined. Matrix Analytics is creating a paradigm shift in nodule management by identifying all nodule patients and registering them to an end-user dashboard.
«I’m thrilled to welcome Mark Cuban to the Matrix Analytics team,» says Christine Spraker, President of Matrix Analytics. «Mr. Cuban joins our other lead investors, George Conrades and Chancy and Zach Love, and I’m excited by what this means for hospitals struggling to manage this complex problem. Mr. Cuban’s investment will allow us to further our mission of putting a dent in lung cancer, and ultimately, more patients and families will benefit from it.»
Dr. Aki Alzubaidi, an Interventional Pulmonologist and Founder and CMO of Matrix Analytics, developed LungDirect after seeing the disjointed care pulmonary nodule patients receive. Electronic Medical Record systems are not equipped to manage nodule care coordination, so Dr. Alzubaidi and his staff were left to use spreadsheets and other outdated mechanisms to manage nodule clinic patients. After much frustration, he decided there had to be a better way. LungDirect offers an innovative way for providers to manage both lung cancer screening patients and other at-risk pulmonary nodule patients.
About Matrix Analytics: Matrix Analytics is a collection of clinical and business experts aligned in the belief that conquering illness and disease requires data, creativity, and an unrelenting focus on Always Learning. First in our sights: Lung Cancer. Despite recent clinical advancements and available technology, an integrated solution to drive the consistent and efficient detection, diagnosis, and treatment of pulmonary nodules and lung cancer does not exist. LungDirect is the first line of defense in the fight. LungDirect registers incidental pulmonary nodules and screening patients to a dashboard and makes a user aware of these patients so they can be followed and treated according to standard clinical care guidelines. Pulmonary nodule management has never been easier!
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SOURCE Matrix Analytics