Daniel from Improve Press
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Exo, maker of a point-of-care ultrasound machine and platform, introduced Tuesday it has acquired Medo, which presents AI instruments for ultrasound imaging.
Medo brings two FDA-cleared algorithms to the mixed enterprise. Final yr the corporate acquired a 510(okay) for Medo Thyroid, which helps customers determine and consider thyroid nodules in adults. Medo Hip, which acquired the FDA inexperienced mild in 2020, is used to assist diagnose developmental dysplasia of the hip in infants, a situation that would result in ache or problem strolling if left untreated.
Medo’s tech can be built-in into the Exo platform. CEO and founder Sandeep Akkaraju stated the addition will assist healthcare staff with much less ultrasound experience to make use of its instruments, because the Medo AI lets them scan round an organ and presents one of the best photos.
“Whereas we had been centered on constructing actually highly effective {hardware} and making it actually easy to amass photos, they had been centered on permitting less-trained folks to each seize and interpret photos,” Akkaraju advised MobiHealthNews.
“So it was actually synergistic with every part that we’re doing. By combining our expertise and the AI that Medo has been growing will radically simplify use ultrasound to drive adoption with all caregivers.”
THE LARGER TREND
One other firm within the ultrasound house is Butterfly Community, which earlier this yr rolled out a brand new platform that connects with a well being system’s medical workflow. AI-assisted ultrasound platform Caption Well being raised $53 million in Collection B funding in 2020. It then partnered with cardiovascular disease-focused Ultromics final yr. Philips additionally presents its personal handheld ultrasound system, which first acquired FDA clearance in 2015.
In the meantime, there are a variety of corporations utilizing AI in different varieties of imaging, together with Aidoc, RapidAI, Gleamer, Nanox and Qure.ai.
Based in 2015, Exo scored $220 million in Collection C funding in July final yr, bringing the corporate’s whole increase to greater than $320 million. Exo had beforehand raised a $40 million Collection B+ in 2020 and a $35 million Collection B in 2019.
The Medo deal marks the corporate’s first acquisition. Akkaraju stated Exo is a long-term undertaking in constructing a extra accessible ultrasound system, which could be notably precious in rural areas.
“I do not assume decentralization [of healthcare], residing in a post-COVID world, goes to decelerate,” he stated. “Like I inform our group, concentrate on the horizon, not on the waves.”
