Health

Ultrasound devicemaker Exo acquires AI developer Medo



Exo, maker of a point-of-care ultrasound gadget and platform, introduced Tuesday it has acquired Medo, which affords AI instruments for ultrasound imaging.

Medo brings two FDA-cleared algorithms to the mixed enterprise. Final 12 months the corporate acquired a 510(ok) for Medo Thyroid, which helps customers establish and consider thyroid nodules in adults. Medo Hip, which acquired the FDA inexperienced gentle in 2020, is used to assist diagnose developmental dysplasia of the hip in infants, a situation that might result in ache or issue strolling if left untreated.

Medo’s tech shall be built-in into the Exo platform. CEO and founder Sandeep Akkaraju stated the addition will assist healthcare employees with much less ultrasound experience to make use of its instruments, because the Medo AI lets them scan round an organ and presents the most effective pictures.

“Whereas we had been targeted on constructing actually highly effective {hardware} and making it actually easy to accumulate pictures, they had been targeted on permitting less-trained individuals to each seize and interpret pictures,” Akkaraju informed MobiHealthNews.

“So it was actually synergistic with all the pieces that we’re doing. By combining our know-how and the AI that Medo has been creating will radically simplify easy methods to use ultrasound to drive adoption with all caregivers.”

THE LARGER TREND

One other firm within the ultrasound area is Butterfly Community, which earlier this 12 months rolled out a brand new platform that connects with a well being system’s scientific 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 12 months. Philips additionally affords 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 12 months, bringing the corporate’s complete elevate 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 challenge in constructing a extra accessible ultrasound system, which will be significantly beneficial in rural areas.

“I do not suppose decentralization [of healthcare], residing in a post-COVID world, goes to decelerate,” he stated. “Like I inform our staff, concentrate on the horizon, not on the waves.”



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