Romanian-born health-tech startup Medicai plans rapid growth in the United States

Medicai, a provider of software and infrastructure solutions for medical imaging and part of GapMinder Ventures’ investment portfolio, estimates that US revenues will represent 50% of its business by the end of 2025, from 30% currently and 10% at the beginning of this year. The company, founded in 2019 by Mircea Popa (CEO), Alexandru Artimon (CTO), and Andrei Blaj (COO), moved Medicai’s operations to the US in 2023 and began rapid expansion into this market last year.

Medicai develops a cloud-native health data platform that enables doctors, clinics, and hospitals to securely store, manage, and share medical images and health data with physicians, collaborators, and patients. Acting as a versatile cloud-based PACS platform, which connects to imaging equipment (such as CT, MRI, or X-ray machines), one of the most frequent use cases allows doctors to access and analyze images and medical data directly from the web or mobile application. Clients also frequently use the Medicai platform for teleradiology, optimizing the time Radiologists spend interpreting imaging studies, and for Multi-disciplinary Tumor Boards, where providers hold multidisciplinary diagnosis and treatment planning meetings (with data access, viewing, document templates, e-signature, and Zoom video calls).

Overall, the platform is mostly used by healthcare providers, but also by US attorneys specializing in personal injury or workers’ compensation.

Medicai’s clients are generally health services providers that generate or consume medical imaging (radiology, neurology, oncology, orthopedics) and often manage multiple locations or work with a large network of partners or suppliers. Medicai is also used by attorneys working in the field of personal injury or workers’ compensation, veterinary clinics, companies offering industrial imaging services, and pharmaceutical/medical research companies conducting multicentric clinical trials.

Medicai has 70 customers in Romania, the US, the UK, and India, and for now, most of them in Romania. At the same time, the company is in advanced discussions with potential customers in Spain, Brazil, Germany, France, Austria, Saudi Arabia, and Costa Rica.

The company is growing the most in the US market – last year, Medicai had five clients in the US, now it has 25, and by 2025, the company’s management expects to have 50 clients in the US, more than in Romania. At the same time, in the last year, Medicai has increased its recurring revenue from the US fourfold and expects a 10-fold increase in 2025 versus 2024.

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€200,000 investment for expansion in the US. Focus on digital marketing – essential for rapid growth in the US

“By the end of the year, the US market will become the most important in terms of recurring revenue and number of customers. This growth is supported by a marketing strategy focused on digital marketing: a mix of paid advertising, social media, and SEO. We know we can grow significantly because the medical sector is increasingly responsive to technological innovations, and we will take advantage of this trend. Customers in the US make decisions very quickly, and we sign contracts in less than a month from the first contact,” said Andrei Blaj, Co-founder and Chief Operating Officer of Medicai.

Medicai’s expansion into the US market represented an investment of approximately €200,000.

“The solutions offered by the companies in our portfolio are successfully entering highly competitive markets such as the US. Romanian companies like Medicai rely on a successful mix: exceptional technology, smart marketing positioning, and effective sales. Sales growth in the US is exponential and encouraging for other companies in our portfolio. We are confident that the future holds very pleasant surprises from Medicai. We wish them every success!” said Alexander Ruff, partner at GapMinder Ventures.

Andrei Blaj says that the decision that helped them expand so quickly in the US was to invest in digital marketing and thus generate leads before hiring a local team in the US market.

“Many people told us that we had to move to the US and hire a local team there. That’s not wrong, but there’s one more step to take – generating leads and interest. And that step is a marketing function, particularly digital marketing. So we analyzed the competition, noticed that their online presence wasn’t very strong, and took action. Now we generate hundreds of leads per month, and hiring a local team makes sense and has the potential to be a successful sales team,” explained Andrei Blaj.

Medicai has 11 employees in Romania and one person in Florida, USA.

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The company’s plans for the end of 2025

Since its launch in 2017, Medicai has raised €700,000 in funding from several investment funds, including GapMinder, a fund co-financed by the Competitiveness Operational Program 2014-2020.

The company’s management is currently focused on growth, but the founders believe that the business’s progress will attract further funding.

By the end of 2025, management will invest in the development of the offline version of Medicai PACS (which allows doctors to access and analyze medical images and data at their location without the need for permanent access to the internet and Medicai’s cloud infrastructure), in features for mobile apps, since they’re widely used by doctors, and in a system that better coordinates medical flows (both within Medicai and in connection with other apps used in hospitals, such as electronic health records or files, and other AI-powered diagnostic solutions).

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