Written by
Share article:
Cranfield, UK, 14th June 2024
Partnerships/Acquisitions
CARPL.ai has partnered with Philips, integrating CARPL.ai‘s AI orchestration platform with Philips’ Enterprise Imaging Solution (Vue PACS) across Brazil’s healthcare system. The partnership will provide radiologists within Brazil’s HealthCare System with direct access to AI algorithms within their diagnostic workflow. With Philips announcing a partnership with Blackford Analysis last year, this is the first formal dual AI platform strategy from an imaging IT vendor. A trend not unexpected but will be interested to observe how these dynamics evolve.
Samsung Medison announced the acquisition of Sonio, a foetal ultrasound AI software company with the aim to combine Sonio’s AI expertise with Samsung Medison’s ultrasound technology to improve prenatal care and patient outcomes. Post-acquisition, Sonio will remain independent and continue its commercial activities while ensuring compatibility with all ultrasound devices. This is a smart move from Sonio, enabling it to maximise its market presence and reach.
deepc has formed a strategic partnership with ImagineSoftware™ (Technology Partners, LLC), a medical billing and revenue cycle management technology provider in the US. Through this partnership, deepc will provide its advanced radiology AI solutions to ImagineSoftware’s network of healthcare organizations, reaching over 75,000 physicians. It allows healthcare organizations to leverage radiology AI to produce reports faster, facilitating downstream coding, claims, and reimbursements. AI ISVs and platform vendors should become innovative in the partnerships they look to forge, being aware of the health-economic advantages they can provide across the healthcare ecosystem.
GE HealthCareGE HealthCare has partnered with Medis Medical Imaging to enhance the diagnosis and treatment of coronary artery disease (CAD). They aim to develop and commercialize the Medis Quantitative Flow Ratio (Medis QFR), a non-invasive method for assessing cardiac physiology. This technology will be integrated into GE HealthCare’s interventional cardiology portfolio, centred around the Allia Platform. The partnership outlines an example of an AI solution providing benefits beyond the radiology department, increasing its value add.
And in final partnership and acquisition news, Lunit Cancer Screening has now completed the acquisition of Volpara Health, after the first initial M&A proposal occurred back in September 2023.
FDA Approvals/Product Releases
CARPL.ai has received FDA 510(k) clearance for its universal AI viewer, enabling radiologists to use multiple AI applications through a single interface integrated with any major PACS vendor. Of importance, the clearance allows FDA-approved AI applications to be integrated into PACS, facilitating complex workflows and maintaining human oversight including the ability to accept/reject/modify findings which increases radiologist’s trust in the AI they deploy. The platform can also be hosted on-premise, on private cloud, or on any major cloud provider.
RapidAI has received FDA 510(k) clearance for its AngioFlow™ solution, which delivers perfusion imaging analysis within the interventional suite. AngioFlow™ provides quick, clear perfusion maps to help specialists assess brain regions with reduced blood flow. The solution also improves operational efficiency, an avenue being explored by many AI vendors to add additional value to their solutions, through reducing redundant imaging, allowing for better resource management.
Other notable regulatory clearances throughout May include US-FDA 510(k) clearance for Heuron ICH, which represents Heuron‘s fifth AI software to receive FDA clearance and demonstrates the South Korean companies push to enter the US market. Brainomix also obtained FDA clearance for its Brainomix 360 e-Lung, marking its entry into the lung imaging field as well as a significant push into the pharma space, with the solution available for use in clinical trials.
And finally, Cortechs.ai, announced the rollout of its OnQ Prostate solution, which was previously limited to top-tier institutions, to Cortechs.ai’s wider commercial channels. The focus here is on enhancing the entire prostate cancer care pathway from screening to post-treatment, a strategy which looks to provide maximum benefit for providers.
Reimbursement
4DMedical has announced that its CT LVAS™ technology can now be billed using two existing Category III CPT codes for reimbursement by the CMS. Effective immediately, U.S. hospital outpatient facilities can bill Medicare $650.50 per CT LVAS™ scan. The decision followed a review by the AMA CPT Editorial Panel, which determined that a new individual code for CT LVAS™ was unnecessary. This, overall, should enable 4DMedical and other users of the code e.g. Optellum, to increase the number of claims being made, generating evidence for the conversion of the CPT III code to an CPT I code.
Clinical Evidence
Lunit Cancer Screening’s Insight CXR AI algorithm for chest radiography identified normal chest X-rays and could reduce 15% of radiologists’ workload in a new study in European Radiology. Identifying normals with AI can be argued as a harder task than detecting disease, and studies looking into how vendors can use AI to remove healthy studies off the worklist are welcomed to tackle the growing reporting workload.
Funding/IPO
AISAP announced its $13 million seed funding round. AISAP’s currently boasts an AI-powered Point Of Care Assisted Diagnosis (POCAD™) solution which can provide quick, accurate diagnoses that can be easily understood by non-experts. It is expected that AISAP will use the funding to expand its focus beyond cardiology to other clinical applications to enhance its product portfolio.
Tempus has filed for an IPO with the SEC, aiming to raise up to $100 million. The company has an AI-enabled patient data platform for diagnostics and personalized medicine across various applications, including cancer and cardiology and in 2022 acquired AI ISV Arterys. This is a reasonable but slightly bold move for Tempus, due to the current economic instability.
Related Research
AI in Medical Imaging Market Intelligence Service
This Market Intelligence Service provides regular data, strategic insights, and in-depth analysis on the global market opportunity for AI-based medical image analysis.
The four deliverables included in the 2023 subscription are:
- AI in Medical Imaging World Market Analysis 2023 – Core Report – June 2023
- Competitive Ecosystem – Topical Report – October 2023
- RSNA Show Report – Show Report – December 2023
About The Author
Ellie joined Signify Research in 2023 as part of the Medical Imaging team. She holds a BSc in Biomedical Sciences from the University of Bath and an MSc in Clinical Drug Development from University College London.
About the AI in Healthcare Team
Signify Research’s AI in Medical Imaging service provides expert market intelligence and detailed insights for several of the leading AI and Imaging IT vendors. Combining primary data collection and in-depth discussions with industry stakeholders, our thorough research approach yields credible quantitative and qualitative analysis, helping our customers make critical business decisions with confidence. Furthermore, our commitment to seeking a plurality of perspectives across the markets we cover guarantees that our insights remain independent and balanced.
About Signify Research
Signify Research provides healthtech market intelligence powered by data that you can trust. We blend insights collected from in-depth interviews with technology vendors and healthcare professionals with sales data reported to us by leading vendors to provide a complete and balanced view of the market trends. Our coverage areas are Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences and Healthcare IT.
Clients worldwide rely on direct access to our expert Analysts for their opinions on the latest market trends and developments. Our market analysis reports and subscriptions provide data-driven insights which business leaders use to guide strategic decisions. We also offer custom research services for clients who need information that can’t be obtained from our off-the-shelf research products or who require market intelligence tailored to their specific needs.
More Information
To find out more:
E: enquiries@signifyresearch.net
T: +44 (0) 1234 986111
www.signifyresearch.net