Six digital health start-ups from five nations comprise the first cohort of GE Healthcare’s Edison Accelerator in Canada. The program accelerates, validates, and scales innovative solutions that address healthcare concerns.
AI to Boost Healthcare Productivity & Efficiency
The selected start-ups use AI to enhance medical imaging, which could alter healthcare. AI will boost healthcare productivity and efficiency, allowing more patients to receive better treatment. AI can help healthcare practitioners spend more time with patients and reduce burnout.
The selected companies displayed unique and scalable healthcare solutions. Paritosh Dhawale, PhD, SVP and GM, Edison Digital Health Platform at GE Healthcare said that GE’s Edison Digital Health Platform was specifically created to host applications created by creative outside parties and includes a comprehensive collection of development tools for creating and integrating apps. He added that the company’s objective is to hasten the use of AI in clinical practice by encouraging the most promising inventors and participating actively in the Canadian health tech ecosystem.
Participating Companies in GE Healthcare’s Edison Accelerator
16 Bit: This physician-founded firm has produced a computer-aided identification and notification software for low bone mineral density utilizing commonly collected x-rays of the chest, spine, pelvis, knee or hand.
Bot Image: This medical device business invented a post-processing MRI tool that uses AI to provide very accurate prostate cancer detection. The software can be SaaS or deployed behind the client’s firewall.
CardioWise: This AI cardiac image analysis company streamlines heart disease diagnosis using CT data. CardioWise analysis will enable doctors’ next-generation algorithms and data to make better patient care decisions.
contextflow: This company creates deep learning-based solutions to help radiologists perform their daily job faster and with higher quality. contextflow also offers comprehensive clinical decision support for lung CT, analyzing lung disease patterns and nodules related to ILD, COPD, and lung cancer.
corelinesoft: This company specializes in AI development that delivers medical image processing solutions. Its vision is to drive towards a future where one easy scan may expose any condition and give early screening and prevention, such as using AI to detect lung cancer nodules.
US2.ai: Founded in 2017, US2.ai is a software start-up supported by Sequoia, Singapore’s Agency for Science, Technology, and Research, and IHH Healthcare. The company automates the fight against heart disease using AI-structured reports generated in under 2 minutes.
In addition to the six companies, Circle Cardiovascular Imaging, a leading global medical imaging company, is employing the Edison Accelerator to speed the integration of its StrokeSENS software with the Edison Platform.
Companies to Test Solutions on GE Healthcare’s Edison Digital Health Platform
The seven companies will test their solution over the next three months on the Edison Digital Health Platform, which is vendor-agnostic and integrates AI into clinical workflow. Each company will receive a personalized program plan and mentors to speed up integration and commercialization.
The program culminates with an Innovation Showcase, when participants present to investors, possible business partners, and customers. Successful applications may be disseminated through the GE Healthcare Marketplace, subject to regulatory approvals and commercial distribution agreements. GE Healthcare Marketplace is an online store where users may acquire software from third-party developers to improve patient care.
GE Posted Solid Q2 Results
On July 26, GE reported a strong second quarter, with revenue, profit, orders, and cash all growing. Chairman and CEO of GE and CEO of GE Aerospace Larry Culp said that the 26% orders growth in GE’s Aerospace business drove the 4% organic year-over-year order growth.
Three of the company’s four segments grew 5% organically. Aerospace, GE HealthCare, and Power all had mid-single-digit gains as the market recovered. Renewable Energy was down double digits due to the expiration of the PTC and the company’s worldwide selectivity policy.
Featured Image: Megapixl @Vitalily73
