Healthcare innovator invests $1.5 million in Vestec

Feb 4 2013

Vestec, Inc. a leader in cutting-edge Artificial Intelligence technologies, today announced that they have secured a $1.5 million equity investment from V. Raman Kumar, founder and former CEO of MModal, the world's largest clinical documentation company and pioneer of voice-based medical transcription.

“We are very happy Raman will be contributing his considerable expertise and relationships to our team.”

Mr. Kumar has joined Vestec's Board of Directors as Vice Chairman and will also oversee the development of products and services for the global industry with a special focus on healthcare.

"Natural language understanding applications represent the next frontier in healthcare," said Dr. Fakhri Karray, Vestec's primary Founder and Chairman. "We are very happy Raman will be contributing his considerable expertise and relationships to our team."

"I am delighted to join the Board of Vestec," said Mr. Kumar. "Healthcare has a growing need for natural language understanding technologies, and Vestec, with its strong IP and advanced AI platform offers many competitive advantages which we will productize and bring to market."