SCOPE 2018

Medrio expanding globally following $30m investment

By Melissa Fassbender contact

- Last updated on GMT

(Image: Getty/KenTannenbaum)
(Image: Getty/KenTannenbaum)
The healthcare technology company Medrio is expanding its business both internationally and domestically following a $30m investment – and demand knocking on its door.

Last year Medrio closed a $30m equity investment from Questa Capital Management, a venture capital firm. The investment was the first of its kind for the company’s twelve-year history, according to Medrio.

We’ve seen a lot of demand both in Europe and Asia​,” Leslie Olsen, vice president of product marketing at Medrio told us at the SCOPE Summit earlier this month.

Speaking at the company’s booth during SCOPE, Olsen said she was hearing a lot of the same things she usually hears at such events. Mainly, “We need tools that will easily integrate with what we’re doing. That don’t require a ton of training​.”

People who are looking to be more nimble – to fail fast, to make a decision quickly … we help them do that​,” she said.

Most recently, the company announced that Linear Clinical Research, an Australia-based Phase I unit, has implemented Medrio’s technology – a move that marked the company's first departure from paper-based data capture.

“[Liner Clinical Research] helped us understand that we have a real footprint there [in Asia]​,” said Olsen.

For us we’re really just trying to capitalize on the demand that’s coming to us, just knocking on our door​,” she added.

To meet this increasing demand, Medrio is opening offices in Charlotte, NC Heidelberg, Germany, and Tokyo, Japan, and is also increasing its business development headcount.

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