Arterys secures fresh funds to speed up global delivery of medical AI

1 June 2020 (Last Updated June 1st, 2020 16:03)

Medical imaging platform Arterys has raised $28m in a Series C investment round led by Benslie Investment Group and Temasek Holdings.

Arterys secures fresh funds to speed up global delivery of medical AI
Arterys aims to speed up partners’ efforts to bring new clinical-grade AI applications to providers. Credit: Oleg Gamulinskiy / Pixabay.

Medical imaging platform Arterys has raised $28m in a Series C investment round led by Benslie Investment Group and Temasek Holdings.

The funding was also joined by Fosun, Revelation Partners, Emergent Medical Partners and Varian Medical Systems.

The proceedings from the round will be used by the company to expand Arterys ecosystem. It includes a range of partners on the new Arterys Marketplace to deliver clinical applications built on the company’s cloud-native viewer and platform.

The fund will be also used to speed up partners’ efforts to bring new clinical-grade artificial intelligence (AI) applications to providers.

The company also intends to extend its proprietary technology platform to application partners and enable clinicians to integrate AI into their workflows from a single interface.

Arterys co-founder and acting CEOJohn Axerio-Cilies said: “We realise that we cannot transform the healthcare system alone. No company can.

“And now, the same technology and strengths that we have leveraged to build our core products [Arterys Cardio AI and Arterys Lung AI] are now available to medical innovators at companies and universities around the world — they can benefit from regulatory support, channel partnerships, performance, security and best-in-class hospital system integrations.”

Benslie International managing partner Henry Weinstein said: “The current crisis has shown us the necessity of a different approach to providing healthcare, where technology and AI are crucial for future success.

“Arterys is committed to transforming the way AI is integrated into the medical workflow, a promise that is long due in the industry. We recently launched our cloud platform and marketplace that will consolidate the work of thousands of AI models to be readily available for use by healthcare institutions around the globe.”

Arterys’s Oncology AI suite acquired 510(k) clearance from the US Food and Drug Administration (FDA) in 2018.

In 2017, the company’s Arterys Cardio DL application to support cardiac MRI received 510(k) clearance from the FDA.