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April 18, 2019updated 23 Dec 2019 10:23am

Israeli AI medical imaging firm Aidoc closes series B funding

Aidoc has raised $27m in a series B funding round led by Square Peg Capital.

Aidoc has raised $27m in a series B funding round led by Square Peg Capital.

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This latest round brings the company’s total financing to $40m. Aidoc intends to use the funds to support its technology and marketing team.

Aidoc provides an artificial intelligence (AI) based radiology solution, which is currently available at 100 centres. The company plans to extend its footprint to 500 hospitals over the next two years.

Approved by regulatory agencies in the US and Europe, the technology is designed to flag acute anomalies in medical scans. It will help radiologists expedite patient treatment and improve quality of care.

“Providing public visibility on the real-life clinical impact of AI across diverse settings is crucial for the continued adoption of these technologies in medical practice.”

Aidoc said that deep learning technology continuously runs in the background and allows better focus on diagnosis. It flags the most serious cases that require quicker diagnosis and treatment.

Aidoc co-founder and CEO Elad Walach said: “We’re working with the American College of Radiology Data Science Institute (DSI) to continuously monitor the performance of our solutions that are already active within hospitals across the US.

“Providing public visibility on the real-life clinical impact of AI across diverse settings is crucial for the continued adoption of these technologies in medical practice.”

Aidoc is planning to launch a range of oncology solutions and expand its existing line of time-sensitive conditions to X-ray. This announcement follows a recent report highlighting the growing importance of AI in diagnostic medical imaging.

Published in the Radiology journal, the report is based on a workshop co-sponsored by the National Institutes of Health (NIH), the Radiological Society of North America (RSNA), the American College of Radiology (ACR) and The Academy for Radiology and Biomedical Imaging Research (The Academy).

Though machine learning research is still in its early stages, the organisers believe that AI algorithms would transform clinical imaging practice over the next ten years.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
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  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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