Best Practice leads $5.4m Medcast raise for clinical AI platform

Best Practice Software has led a $5.4 million capital raise for Medcast to advance the Australian company’s AI-enabled clinical knowledge platform, MedLuma, according to a Medcast announcement dated 21 September 2026.

Medcast said the investment would accelerate development of “governed clinical knowledge solutions” and expand MedLuma, which is designed for Australian healthcare. The company said the funding would support deeper integrations with clinical software and help scale its technology and clinical teams.

The announcement is primary material from Medcast. It said Best Practice Software, described by Medcast as Australia’s leading provider of clinical and practice management software, and Medcast had announced the investment as part of a long-running collaboration. Medcast described itself as an Australian organisation providing clinical education, continuing professional development programs and governed clinical guidance.

MedLuma is described by Medcast as a platform that helps clinicians navigate clinical information and access evidence at the point of care. The company said it provides evidence-based answers grounded in Australian guidelines and clinical sources, with citations linking back to original material.

Medcast said a core principle in MedLuma’s development was respecting the intellectual property and authorship of organisations producing clinical guidance. It said it works directly with copyright holders so publishers retain ownership of their intellectual property and are acknowledged within the platform.

A secondary account published by The Medical Republic on 21 September 2026 reported that Best Practice Software invested $1.7 million as the largest component of the $5.4 million round. It also reported that Best Practice chief technology officer Jessica White joined Medcast’s board as part of the deal, that the round was oversubscribed, and that private high-net-worth investors took up the remainder. The same account said a Series A was planned for 2027. These details were not included in the supplied Medcast announcement.

The Medical Republic, in an article labelled opinion and technology, also reported that an integration with Best Practice was expected to go live in mid-to-late October, placing MedLuma as an icon in the Best Practice toolbar and inside the results inbox. A substantially similar secondary account appeared in Health Services Daily on the same date.

Startup Daily also reported the $5.4 million funding development, identifying Medcast as a medical edtech company and describing the raise as being for a clinical AI platform.

The deal comes amid growing activity around AI in clinical workflow software. The Medical Republic reported that Best Practice had previously invested $3.378 million in Lyrebird Health, an AI scribe company, and said Best Practice held approximately 80 per cent of Australia’s GP practice management software market. Those claims are from the secondary account and were not independently verified in the supplied primary material.

Medcast’s announcement positioned the collaboration as a way to support access to Australian clinical guidance, education pathways and digital health capability in primary care.