Tele: 561.316.3330
Breaking Medical Device News

Monday, October 18, 2021
HomeFUNDINGAidoc Announces Series B Extension to $47M As Market Demand for Proven...

Aidoc Announces Series B Extension to $47M As Market Demand for Proven Radiology AI Soars

September 16, 2020

Aidoc today announced it has raised an additional $20 million as part of its Series B extension round which brings the total amount of funding raised by the company to $60 million to date.

The announcement comes as radiology practices continue to choose Aidoc as their core AI solution, tripling the company’s revenue since the beginning of 2020, even amidst a global pandemic.

“We are incredibly proud and excited to be able to continue to back the Aidoc team,” said Dan Krasnostein, Partner at Square Peg Capital. “The value AI brings in supporting radiologists is so obvious to us and Aidoc has stamped itself as a clear leader in the space. Since our first investment the company has continued to make giant steps forward with new products brought to market and a significant increase in the number of customers they serve. Supporting a business that is improving patient care and saving lives on a daily basis is incredibly exciting.”

Aidoc’s comprehensive suite of AI solutions for radiology includes six FDA-cleared products for flagging acute abnormalities directly in the radiology workflow. The company has undergone a rapid global expansion, now serving more than 400 health centers in five continents. On a recent KLAS webinar, Aidoc’s partners shared their satisfaction from the value they have experienced in turnaround time as well as the ease of deployment within their clinical environment.

“I am encouraged to see that recent changes in the healthcare world helped crystalize the value of AI,” said Aidoc co-founder and CEO Elad Walach. “As healthcare organizations work through case backlogs and prepare for a different future – solutions that can show improved operational efficiency and increased revenue potential are being prioritized. Our solutions have augmented radiologists to provide the highest standard of care, reducing turnaround time, and helping save lives for over 3 years now and this funding allows us to continue expanding our comprehensive portfolio as well as facilitate our rapid expansion into additional practices across the globe.”

Medical Device News Magazinehttps://infomeddnews.com
Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

Stay Connected

spot_img

Don't Miss

Insulet Announces Board of Director Changes with Appointment of Luciana Borio, M.D. and Retirement of Sally W. Crawford

Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the global leader in tubeless insulin pump technology with its Omnipod® brand of products, today announced...

Ganymed Robotics Awarded a €2.5M Grant from the EC through the EIC Accelerator Program

Ganymed Robotics is developing a radically new approach to surgical robotics by combining computer vision, a branch of artificial intelligence, and mechatronics.

Global Healthcare Exchange Announces Acquisition of Explorer Surgical

Explorer Surgical will operate as a wholly-owned subsidiary of GHX.

Arlington Scientific Broadens Product Portfolio and Further Expands its Product Offering Through the acquisition of Non-Mammalian Blocking Buffers

Arlington Scientific, Inc. (ASI) is pleased to announce that it has acquired the non-mammalian blocking buffer product line from Clark McDermith, former owner of...

Laborie Medical Technologies Acquires Pelvalon

Laborie was represented by Piper Sandler (financial advisor) and Simpson Thacher & Bartlett LLP (legal advisor). Pelvalon was represented by J.P. Morgan Securities LLC (financial advisor) and Dorsey & Whitney LLP (legal advisor).

Herculite Products, Inc. Promotes Two Employees to New Roles

Paul Flaherty Chief Strategy Officer and Marco Angelone is being promoted to the role of Chief Financial Officer.

Prof. Joseph Kvedar Added to the Sweetch Advisory Board Member

Prof. Josdeph Kvedar is the current chair of the board at the American Telemedicine Association (ATA), formerly VP of Connected Health at Mass-Gen Brigham, co-chair of the American Medical Association (AMA) Digital Medicine Payment Advisory Group, and author of The Internet of Healthy Things and The New Mobile Age.

Sid Bala Named President of HealthChampion

Sid Bala is the former president and chief executive officer of alligatortek, a custom software applications company that was acquired by HealthChampion in 2020 where he led them for 27 years after he founded the business

By using this website you agree to accept Medical Device News Magazine Privacy Policy