The Honourable Steve Crocker, Minister of Industry, Energy and Technology, today announced an investment of $652,295 through the Business Growth Program to support SiftMed Inc. in advancing its AI-powered medical file management platform. A research and development initiative will enhance the company’s ability to deliver solutions for organizing and summarizing complex medical records.
Traditionally, independent medical assessments have been performed manually by physically reviewing documents. SiftMed has developed and launched its advanced machine learning and artificial intelligence system designed to streamline the organization and identification of medical files.
The system automatically categorizes documents such as imaging reports, emergency records, and insurance forms and enables users to filter, organize chronologically, and summarize records with precision. This technology is particularly valuable for medical professionals, insurance companies and other entities that must navigate large volumes of complex documentation.
This project will focus on enhancing the platform’s accuracy, flexibility, and customization. These enhancements will allow SiftMed to scale its platform, reduce manual review time, and deliver a more intuitive and efficient user experience.
SiftMed is a St. John’s-based technology company, founded in 2020. The company has grown to employ 26 full-time and 34 part-time staff, with the majority based in Newfoundland and Labrador. This project will create four new positions in the province.
The Provincial Government’s contribution will leverage $893,061 from SiftMed and $350,000 from other sources. The Business Growth Program provides non-repayable contributions for projects or initiatives to assist businesses in starting, innovating, scaling, and improving sales locally, nationally or internationally
Quotes
“SiftMed is a shining example of the innovation and talent emerging from Newfoundland and Labrador’s tech sector. This project will not only create high-value jobs but also position our province as a leader in AI-driven health technology solutions.”
Honourable Steve Crocker
Minister of Industry, Energy and Technology
“We’re incredibly grateful for the support we’ve received from Industry, Energy, and Technology, which has played a pivotal role in accelerating SiftMed’s mission – to uncover facts that change lives. Their investment validates the importance of innovation in the medical file review process and enables us to scale our product across the medical-legal claims industry.”
Holly Hill
CEO and Co-Founder, SiftMed
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