Tag: AI

Octagos Health Secures Over $43 Million Investment to Advance AI-Driven Cardiac Device Monitoring

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HOUSTON, July 9, 2024 /PRNewswire/ — Octagos Health, an industry-leading provider of AI-driven cardiac device monitoring solutions, today announced a successful equity raise of over $43 million in investment capital. The Series B investment round was led by funds managed by Morgan Stanley Expansion Capital, with continued participation from Mucker Capital and other strategic investors. This funding will accelerate Octagos Health’s mission to use artificial intelligence to revolutionize cardiac care and provide comprehensive patient monitoring services. 

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Octagos Health provides an AI-driven platform that offers continuous monitoring and data analysis for patients with cardiac devices (pacemakers, defibrillators, ambulatory monitors, consumer wearables, and other modalities). Atlas AI, the company’s proprietary technology, ensures high accuracy and sensitivity in detecting clinically relevant events, automating physician workflows, and enabling healthcare providers to make informed decisions and improve patient outcomes. The platform’s comprehensive capabilities include seamless integration with electronic health records (EHR) and customizable reporting features, making it a preferred choice for cardiology practices. 

“By combining AI, patient services, and bidirectional EHR integration, the Octagos Health platform enables cardiologists to efficiently monitor patients, improve patient care, and enhance clinic economics.”

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“By combining AI, patient services, and bidirectional EHR integration, the Octagos Health platform enables cardiologists to efficiently monitor patients, improve patient care, and enhance clinic economics. The funding will help us accelerate our growth across the US and expand into other critical areas of cardiac care, including ambulatory monitors, consumer wearables, and sleep.  Our goal is to build a comprehensive AI-based clinical decision support engine for healthcare. We are thrilled to have Morgan Stanley Expansion Capital as our lead investor and the continued support of Mucker Capital. In a short period, we have grown from first servicing my cardiology clinic to becoming one of the largest cardiac remote monitoring companies that provides software and services,” said Dr. Shanti Bansal, cardiologist, CEO of Octagos Health and Houston Heart Rhythm. 
“This investment will enable us to accelerate enhancements to our platform, in addition to scaling our commercial team and operations. We are currently the only company that helps cardiology practices migrate their historical data from legacy software providers and fully integrates with any EHR system. We do this while enabling customized reporting supported by patient and practice decision-support analytics,” said Eric Olsen, COO of Octagos Health. “We are excited to partner with Octagos Health and support their vision of transforming cardiac care,” said Melissa Daniels, Managing Director of Morgan Stanley Expansion Capital. “Octagos Health has demonstrated exceptional growth and innovation in a critical area of healthcare. We believe their platform and vertically integrated software and services significantly improve patient care and streamline cardiac monitoring processes for healthcare providers.” “Octagos Health is poised for scale – industry leading gross margins, a very sticky product that doctors and clinical staff love, and a market ready for disruption with artificial intelligence. This is the new wave for diagnostic care,” said Will Hsu, Co-Founder and Partner at Mucker Capital. “This funding will help Octagos Health continue to add additional data sources from various diagnostic and consumer devices and further differentiate their offering.” About Octagos Health Octagos Health is a leading provider of cardiac monitoring solutions, dedicated to improving patient outcomes through advanced technology and comprehensive monitoring services. The company’s AI-driven platform offers continuous monitoring and data analysis for patients with implantable cardiac devices, enabling healthcare providers to make informed decisions and deliver timely care. Octagos Health’s solutions are designed to seamlessly integrate with electronic health records and provide customizable reporting features, making it an essential tool for modern healthcare institutions. For more information, please reach out to [email protected]. You can also follow us on LinkedIn. About Morgan Stanley Expansion Capital Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets growth equity and credit investments within technology, healthcare, consumer, and other high-growth sectors. For nearly four decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 200 companies, leveraging the global brand and network of Morgan Stanley.About Mucker Capital Founded in Santa Monica, CA in 2011, Mucker Capital provides Pre-Seed, Seed, and Series A capital and support for startups in Southern California and in other, similarly underfunded ecosystems outside Silicon Valley.SOURCE Octagos Health, Inc.

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UltraSight Joins Butterfly Garden to Expand AI Real-Time Guidance Across Point of Care Ultrasound Devices

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Leveraging Butterfly Network’s platform, UltraSight seeks to enable patients to access cardiac imaging with real-time AI guidance 
TEL AVIV, Israel, June 27, 2024 /PRNewswire/ — Today, UltraSight, a digital health pioneer transforming cardiac imaging through the power of artificial intelligence, announced it has joined Butterfly Garden, an artificial intelligence (AI) Marketplace launched by Butterfly Network, Inc. (“Butterfly”) (NYSE: BFLY), a digital health company transforming care through the power of portable, semiconductor-based ultrasound technology and intuitive software.
UltraSight and Butterfly have partnered to increase patient access to cardiac care by enabling more healthcare professionals to perform cardiac ultrasound. Subject to regulatory approvals and authorizations, UltraSight aims to integrate and deploy its real-time AI guidance software on Butterfly’s imaging platform and build the software for use with Butterfly’s single-probe, whole-body handheld ultrasound system.
Cardiovascular disease (CVD) is the leading global cause of death, accounting for an estimated 18 million deaths yearly. Today patients face significant delays in receiving crucial cardiac testing due to a fragmented market full of system bottlenecks, in addition to a national shortage of expert sonographers.
UltraSight’s mission is to empower any medical professional, including novice users with no prior sonography experience, to confidently conduct echocardiographic examinations and capture diagnostic quality cardiac ultrasound images at the point of care. Achieving compatibility with the most prominent handheld ultrasound device companies in the market, such as Butterfly, facilitates the company’s goal of increasing access to cardiac care and reducing system bottlenecks for patients.
“Joining the Butterfly Garden marks an important moment in our mission to revolutionize cardiac care,” said Davidi Vortman, CEO of UltraSight. “By integrating our real-time AI guidance software with Butterfly’s cutting-edge ultrasound technology, we are poised to transform the landscape of cardiac imaging. This collaboration will empower healthcare professionals, regardless of their experience level, to perform accurate and timely cardiac ultrasound exams at the point of care. Together, we will break down existing barriers in cardiac care, ensuring that more patients receive the critical diagnostics they need, when and where they need it most.”
“We are thrilled to partner with UltraSight to bring their AI guidance software to Butterfly devices in an effort to mitigate the pressing issue of sonographer shortages, among other workforce challenges, impacting medical communities around the world,” said Darius Shahida, chief strategy officer of Butterfly Network. “UltraSight and Butterfly are jointly dedicated to making healthcare more efficient, effective and accessible through high-quality ultrasound that’s easy-to-use and globally available.”
In August 2023, Butterfly Network launched Butterfly Garden, allowing third-party developers access to its proprietary SDK and APIs to build new AI applications that work in conjunction with Butterfly’s imaging platform, bringing with it access to the largest point-of-care ultrasound customer base. UltraSight, with capabilities to provide more medical professionals with the ability to take high-quality diagnostic images of the heart, has the potential to close the gap between novice and skilled Butterfly ultrasound users, and is an ideal match for the program. 
When paired with ultrasound devices, and following the appropriate regulatory clearance for each device, UltraSight’s underlying AI neural network can predict the position of the ultrasound probe relative to the heart based on the ultrasound video stream and guide the user on maneuvering the probe to capture diagnostic quality cardiac images.
UltraSight’s partnership with Butterfly follows a series of recent collaborations with other industry leaders such as Mayo Clinic and EchoNous. For more information about UltraSight, visit www.ultrasight.com. For more information about Butterfly, visit www.butterflynetwork.com.
About UltraSight
UltraSight’s mission is to make diagnostic imaging more accessible by empowering medical professionals to successfully acquire timely and accurate cardiac ultrasound images anywhere. UltraSight’s AI-driven software offers real-time guidance, making cardiac ultrasound accessible and efficient, which may lead to quicker diagnoses and improved patient care. In 2022, UltraSight won the Bristol Myers Squibb Improving Cardiovascular Disease Outcomes Challenge as the most “innovative cardiac technology.” Additionally, the company was awarded a patent for its real-time guidance solution for ultrasound devices. UltraSight’s software has FDA 510(k) Clearance, is UKCA and CE Marked, and has Israeli AMAR Clearance to assist medical professionals in performing cardiac ultrasound scans. For more news and information, visit our website or follow UltraSight on LinkedIn and Twitter
About Butterfly Network
Founded by Dr. Jonathan Rothberg in 2011, Butterfly Network is a digital health company with a mission  to democratize medical imaging by making high-quality ultrasound affordable, easy-to-use, globally accessible, and intelligently connected, including for the 4.7 billion people around the world lacking access to ultrasound. Butterfly created the world’s first handheld single-probe, whole-body ultrasound system using semiconductor technology, Butterfly iQ. The company has continued to innovate, leveraging the benefits of Moore’s Law, to launch its second-generation Butterfly iQ+ in 2020, and third-generation iQ3 in 2024 – each with increased processing power and performance enhancements. The disruptive technology has been recognized by TIME’s Best Inventions, Fast Company’s World Changing Ideas, CNBC Disruptor 50, and MedTech Breakthrough Awards, among other accolades. With its proprietary Ultrasound-on-Chip™ technology, intelligent software, and educational offerings, Butterfly is paving the way to mass adoption of ultrasound for earlier detection and remote management of health conditions around the world. Butterfly devices are commercially available to trained healthcare practitioners in areas including, but not limited to, parts of Africa, Asia, Australia, Europe, the Middle East, North America and South America; to learn more about available countries, visit: www.butterflynetwork.com/choose-your-country.
SOURCE UltraSight

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Tempus Receives U.S. FDA 510(k) Clearance for Tempus ECG-AF, an AI-based Algorithm that Identifies Patients at Increased Risk of AFib

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CHICAGO–(BUSINESS WIRE)–Tempus AI, Inc. (NASDAQ: TEM), a leader in artificial intelligence and precision medicine, today announced it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Tempus ECG-AF device that uses AI to help identify patients who may be at increased risk of atrial fibrillation/flutter […]

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American College of Radiology Launches First Medical Practice Artificial Intelligence Quality Assurance Program

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ARCH-AI Can Help Radiology Sites Safely and Effectively Implement AI in Daily Practice
RESTON, Va., June 26, 2024 /PRNewswire/ — The American College of Radiology® (ACR®) today launched the ACR Recognized Center for Healthcare-AI (ARCH-AI), the first national artificial intelligence quality assurance program for radiology facilities.
The program, built on best practices, outlines expert consensus-based building blocks of infrastructure, processes and governance in AI implementation in real-world practice.
By working toward, and attesting to, compliance within the tenets of the program, participation in ARCH-AI can help radiology practices provide safe and effective implementation of AI products and help radiologists provide better patient care.  
“AI is different from previous technologies,” said Christoph Wald, MD, PhD, MBA, FACR, vice chair of the ACR Board of Chancellors and chair of the ACR Commission on Informatics. “Even a U.S. Food and Drug Administration-cleared AI product must be tested locally to ensure it works safely and as intended. Practice leaders must put safeguards in place to maximize the benefit of AI products while minimizing risk; ARCH-AI is a low-cost, efficient system to help sites do that.”
ARCH-AI site recognition criteria include:

Establishing an interdisciplinary AI governance group.
Maintaining an inventory of AI algorithms with detailed documentation.
Ensuring adherence to security and compliance measures.
Engaging in diligent review and selection of AI algorithms.
Documenting use cases and training procedures.
Monitoring algorithm performance, including safety and effectiveness.
Contributing to the “Assess-AI” central AI registry for performance benchmarking.

“ARCH-AI can help radiology practices structure QA processes that help them plan for what can go wrong, including the development of good AI governance practices, acceptance testing and effectiveness monitoring of AI products to ensure they continue to function as expected over time,” said Keith J. Dreyer, DO, PhD, FACR, ACR Data Science Institute® (DSI®) chief science officer.
Radiology practices that complete the ARCH-AI process will receive an ACR Recognition badge to display in their waiting rooms and lobbies to demonstrate to their communities, patients, payers and referring physicians that they are committed to integrating AI in a safe, responsible manner that allows them to provide the best possible modern healthcare.
“ARCH-AI provides a great blueprint and assists radiology facilities with AI implementation,” said Bibb Allen Jr., MD, FACR, ACR DSI chief medical officer. “DSI also offers AICentral.org, a database of FDA-cleared imaging AI products, and Assess-AI, the ACR’s AI registry that can support local AI acceptance testing and monitoring. These ACR programs can help practices meet ARCH-AI standards and receive meaningful guidance and assistance in implementing AI in a safe and effective manner for their patients.”
SOURCE American College of Radiology

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Viz.ai Collaborates with Hypertrophic Cardiomyopathy Association to Improve Care for Hypertrophic Cardiomyopathy Patients

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SAN FRANCISCO–(BUSINESS WIRE)–Viz.ai, the leader in AI-powered disease detection and intelligent care coordination, today announced a collaboration with the Hypertrophic Cardiomyopathy Association (HCMA), the preeminent organization improving the lives of those with hypertrophic cardiomyopathy (HCM), to support, educate and advance research for HCM. “We’re thrilled to collaborate with the HCMA […]

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University Hospitals Transforms Patient Care with Aidoc’s AI-Enabled Solutions Across Its Entire Health System

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Aidoc aiOS™ integration across 13 hospitals focuses on enhancing clinical outcomes and streamlining workflow with access to 17 FDA-cleared AI algorithmsCLEVELAND, June 12, 2024 /PRNewswire/ — University Hospitals (UH) has announced a major advancement in its AI strategy with the deployment of Aidoc’s comprehensive AI platform (aiOS™) across 13 of its hospitals and dozens of its outpatient locations. This initiative marks a significant leap forward in leveraging cutting-edge technology for superior patient outcomes.

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Image of University Hospitals Medical Center Campus in Cleveland, Oh. (PRNewsfoto/Aidoc)

University Hospitals Logo (PRNewsfoto/Aidoc)

Driven by a commitment to provide the highest standard of care, UH sought a standardized, hyper-accurate AI platform that could be seamlessly integrated across its network of academic hospitals and outpatient locations. Having utilized AI in various small-scale applications, UH chose to expand its capabilities with Aidoc to empower care teams with the information they need to address some of today’s most pressing medical issues.

Patients at UH will benefit from faster diagnosis and treatment of acute conditions such as pulmonary embolism, aortic dissection, vertebral compression fracture and pneumothorax. When a patient arrives at a UH facility and undergoes a CT scan for an injury or pain, Aidoc’s AI analyzes the scan using its comprehensive algorithms. The technology identifies both expected and unexpected findings, helps physicians prioritize urgent cases and ensures all flagged conditions are reviewed by the care team. Aidoc’s AI facilitates communication between the care team to enhance collaboration and speed up treatment.
Key Benefits of Aidoc for University Hospitals
Seamless integration across the entire health network
Immediate access to critical patient information
Expedited care and improved patient outcomes
Access to all 17 FDA-cleared AI algorithms for triage, quantification and care coordination
“Today’s care delivery is incredibly complex with numerous moving parts,” shared Dr. Donna Plecha, Chair of Radiology at University Hospitals.” Aidoc’s AI technology assists our radiologists in evaluating various patient images, allowing our clinicians to access precise, actionable data quickly. The AI technology enables our care teams to be more accurate and efficient leading to even more exceptional care for our patients.”The agreement leverages Aidoc’s proprietary aiOS™, a groundbreaking platform that addresses common AI implementation challenges such as integrating with existing IT systems, ensuring EHR compatibility, and managing data and reporting. This comprehensive approach ensures that UH can provide leading-edge care while maintaining operational efficiency and clinical excellence.”We are thrilled to collaborate with University Hospitals to drive healthcare innovation through our AI solutions,” said Elad Walach, CEO, Aidoc. “University Hospitals’ visionary approach to healthcare and dedication to integrating technology sets a new standard for patient care. UH is not only enhancing care coordination and streamlining workflows but also ensuring every patient receives the precise, timely and exceptional care they deserve. UH’s commitment to medical ingenuity and excellence is truly transformative.”By integrating Aidoc’s AI platform, University Hospitals ensures seamless deployment and minimal technical challenges, allowing for a collaborative approach to continuous monitoring and governance. This partnership not only enhances patient safety and care but also enables UH to maintain high standards in AI performance and reliability. Through this collaborative effort, UH can focus more on patient care, ensuring every patient receives the best possible treatment with the aid of AI technology.About University Hospitals Founded in 1866, University Hospitals serves the needs of patients through an integrated network of 21 hospitals (including five joint ventures), more than 50 health centers and outpatient facilities, and over 200 physician offices in 16 counties throughout northern Ohio. The system’s flagship quaternary care, academic medical center, University Hospitals Cleveland Medical Center, is affiliated with Case Western Reserve University School of Medicine, Northeast Ohio Medical University, Oxford University, the Technion Israel Institute of Technology and National Taiwan University College of Medicine. The main campus also includes the UH Rainbow Babies & Children’s Hospital, ranked among the top children’s hospitals in the nation; UH MacDonald Women’s Hospital, Ohio’s only hospital for women; and UH Seidman Cancer Center, part of the NCI-designated Case Comprehensive Cancer Center. UH is home to some of the most prestigious clinical and research programs in the nation, with more than 3,000 active clinical trials and research studies underway. UH Cleveland Medical Center is perennially among the highest performers in national ranking surveys, including “America’s Best Hospitals” from U.S. News & World Report. UH is also home to 19 Clinical Care Delivery and Research Institutes. UH is one of the largest employers in Northeast Ohio with more than 30,000 employees. Follow UH on LinkedIn, Facebook and Twitter. For more information, visit UHhospitals.org.About AidocAidoc is a pioneering force in clinical AI. We focus on aiding and empowering healthcare teams to optimize patient treatment, which results in improved economic value and clinical outcomes. Our clinically proven AI solutions eliminate silos, increase efficiencies, and improve outcomes by delivering critical information when and where care teams need it leading to immediate collective action. Built on Aidoc’s proprietary aiOS™, we analyze and aggregate medical data to enable care teams to operationalize the unexpected and work seamlessly with a continued focus on the patient. Used in more than 1,000 medical centers worldwide, Aidoc has the most FDA clearances (17) in clinical AI and its AI-based solutions cover 75 percent of patient populations, enabling physicians to make informed decisions based on real-time data. Aidoc AI is always on, running in the background to change the foreground. Visit Aidoc.com to see how we are connecting all points of care with always on AI.Photo – https://mma.prnewswire.com/media/2436134/Aidoc_UH.jpgLogo – https://mma.prnewswire.com/media/2015772/4756850/Aidoc_Always_On_AI_Logo.jpgLogo – https://mma.prnewswire.com/media/2436135/University_Hospitals_Logo.jpgSOURCE Aidoc

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Cardio Diagnostics Announces Publication of Study Showing That its PrecisionCHD™ Test Could Save Health Insurers Over $113 Million Annually

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CHICAGO–(BUSINESS WIRE)–Cardio Diagnostics Holdings, Inc. (Nasdaq: CDIO), a leader in the next generation of precision cardiovascular medicine technologies that combine proprietary AI algorithms with epigenetic and genetic biomarkers, today announced the publication of results from a budget impact modeling study for PrecisionCHD™, the Company’s AI-powered multiomic coronary heart disease detection test. […]

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