A top attractor of investors interested in medical imaging AI has drawn in a fresh $110 million.
Tel Aviv-based Aidoc says it will use the money to continue building out its product portfolio beyond imaging and into “the entirety of the hospital enterprise,” covering “various specialties and aiding physicians in managing the entire patient care continuum.”
The company announced the Series D investment June 14, saying its total funding has now reached $250 million.
The company adds that its AI Care Platform is the first of its kind and has FDA approval for 15 related products.
Aidoc is positioning its AI product line largely as a response to labor shortages plaguing U.S. healthcare. The announcement cites research suggesting U.S. healthcare will fall 3.2 million workers short within five years and quotes David Shulkin MD, former secretary of the U.S. Department of Veterans Affairs.
As the staffing shortage unfolds, Shulkin suggests, healthcare leaders will face an increasingly difficult challenge involving basic economics.
Managing a hospital or health system in this environment, Shulkin adds, “is going to require that we use technology like artificial intelligence to re-think ways to do business.”
The announcement also quotes an executive from one of the investment firms leading the new $110M funding round.
“Aidoc has a bold vision to forge a new market category in healthcare and deep, established roots in medical imaging,” says the executive. “We believe Aidoc’s platform will change the way hospitals operate and serve as the missing layer of intelligence needed to transform healthcare.”
Full announcement here.