OneMedNet partners with Medcase to expand into healthcare data annotation

MINNEAPOLIS - OneMedNet Corporation (NASDAQ:ONMD), a micro-cap healthcare technology company with a market capitalization of $42.41 million, announced Wednesday a strategic partnership with Medcase to enter the healthcare data annotation market, establishing a new revenue channel in the healthcare AI ecosystem. According to InvestingPro analysis, the company currently appears overvalued based on its Fair Value estimates.

The collaboration positions OneMedNet to expand beyond its core Real-World Data (RWD) business into the healthcare data annotation sector, which is valued at $1.5 billion in 2025 and projected to reach $2.8 billion by 2030. This expansion comes as the company faces challenges, with revenue declining by nearly 60% in the last twelve months and a current ratio of 0.37, indicating potential liquidity concerns.

Under the partnership, OneMedNet will leverage Medcase’s network of 15,000 healthcare professionals who provide medical data annotation services. In turn, Medcase will gain access to OneMedNet’s provider network and iRWD platform, offering clients regulatory-grade, de-identified real-world data across clinical imaging and electronic health records.

"This partnership positions OneMedNet at the center of the healthcare data value chain," said Aaron Green, CEO & President of OneMedNet, according to the press release. "By combining our iRWD platform with Medcase’s annotation expertise, we are extremely well positioned to serve a large unmet market need."

Niv Shochat, CEO of Medcase, noted that "the demand for specialized healthcare annotation is accelerating faster than ever," adding that the alignment with OneMedNet would allow access to real-world data for their clients.

The companies aim to deliver recurring revenue streams by meeting the requirements of healthcare AI developers, pharmaceutical companies, and medical technology companies. The partnership comes as the healthcare data annotation market experiences significant growth, with a reported 58% year-over-year headcount growth among healthcare-specific data curation providers. While OneMedNet’s stock has shown strong momentum with a 59% gain over the past six months, it remains down 32% year-to-date. InvestingPro subscribers have access to 11 additional investment tips and comprehensive financial metrics to better evaluate this opportunity.

The announcement was based on a press release statement from OneMedNet Corporation.

In other recent news, OneMedNet Corporation has announced several key developments that could impact its business operations. The company revealed it has secured a partnership with one of the world’s top five medical device companies, under which four purchase orders have been placed for its AI-powered Real-World Data services to aid in medical imaging AI model development. Additionally, OneMedNet has expanded its cardiovascular data network by adding 85 new centers, enhancing its capacity to deliver de-identified cardiovascular imaging and diagnostic reports to various stakeholders in the medical field.

Moreover, OneMedNet has entered into a partnership with Inka Health Corp., a subsidiary of Onco-Innovations Limited, to develop external control arms for cancer therapy trials. This collaboration will utilize OneMedNet’s patient data platform and Inka Health’s SynoGraph platform to focus initially on the Keynote-189 trial of pembrolizumab in non-small cell lung cancer. Inka Health has also been selected to lead a data analytics initiative with OneMedNet, aiming to improve cancer therapy development through advanced data analytics techniques.

These recent developments reflect OneMedNet’s ongoing efforts to expand its partnerships and enhance its data capabilities in the healthcare sector.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.