Ireland-based 3D4Medical, which has developed apps for medical education and fitness, raised $16.4 million from Irish life sciences company Malin, which now owns 38 percent of the company. Malin also has a further call option to increase its shareholding to 50 percent.
3D4Medical's flagship app, called Essential Anatomy, is a medical reference application that displays male and female models with 11 systems and 8,200 anatomical structures. Essential Anatomy also allows medical students to create customized pins with notes that they can place anywhere on the model, slice through certain structures using a plane tool, create bookmarks, and take interactive quizzes.
Other apps 3D4Medical offers explore a variety of areas like the brain and nervous system, knee, radiology, eye, and spine. 3D4Medical also offers fitness apps including iMuscle, iDance, and iYoga. The company has more than 20 apps, which have seen a combined 9 million downloads globally.
3D4Medical CEO John Moore said in a statement that they would use the funds to release a new version of their 3D technology, which the company has been developing for 24 months.
"3D4Medical offers Malin a unique asset at the intersection of the technology and healthcare sectors," Adrian Howd, CEO of Malin said in a statement. "...The mobile healthcare sector is clearly part of the future and we are pleased to add such a quality asset to our overall life sciences focus."
In 2012, Apple CEO Tim Cook highlighted 3D4Medical in a video played at World Wide Developers Conference that showed a few apps that had made an impact in people’s lives. At the time, Moore explained that the company originally started off as a medical stock image company, but when the iPad came out the company started to offer educational content.
Since it launched in 2004, 3D4Medical has generated more than $20 million in cumulative revenues. The company said that in the financial year that ended in 2014, 3D4Medical's recorded earnings before interest, taxes, depreciation, and amortization (EBITDA) was $700,000 on revenues of $4.1 million.