What that you must know:

– Ferrum Well being, a pioneering software program supplier enabling AI implementation in healthcare programs, raises $16 million in Sequence A funding led by Foundry, with participation from Catalyst by Wellstar, Headwaters Ventures, UnitedHealthcare Accelerator, and present buyers together with Blumberg Capital, Cercano, GSR, City Innovation Fund, and Singtel Innov8. This brings Ferrum Well being’s whole funding to $31 million.

– This Sequence A funding will gasoline Ferrum Well being’s growth and innovation. The corporate plans to additional improve its platform, broaden its AI algorithm library, and prolong its attain to extra healthcare establishments.

Vendor-neutral AI platform for improved affected person outcomes

Ferrum Well being’s distinctive platform allows clinicians to validate and implement AI algorithms inside their present workflows, whereas holding protected well being info (PHI) safe throughout the healthcare system’s firewall. The platform’s rising library of AI algorithms spans a broad vary of specialties, together with oncology, ladies’s and males’s well being, cardiovascular, neurology, and orthopedics.

Improved care. Extra worth.

Ferrum Well being’s AI platform has already demonstrated important affect, with an early associate reaching a exceptional 77% enhance in early lung most cancers detection charges and improved five-year most cancers survival charges. Moreover, the platform drives operational efficiencies, enabling healthcare programs to scale back inner IT staffing and computing prices by 75% and speed up AI implementation timelines from a median of six weeks to lower than a day.

Adoption by caregivers

Greater than 250 places, together with Sutter Well being, Carle Clinic, Premier, Asheville Radiology Associates, Radiology Associates of Albuquerque and Mercy Radiology, depend on Ferrum Well being options. This broad adoption has resulted in an 86% enhance in income for Ferrum Well being previously six months. These well being programs leverage Ferrum’s superior algorithms to investigate huge quantities of medical information, empowering clinicians with essential insights and proposals to enhance affected person care.

Democratizing entry to scientific AI

Ferrum Well being’s Enterprise AI Deployment Platform is targeted on enhancing affected person outcomes by democratizing entry to superior scientific AI applied sciences. The answer gives end-to-end AI Hubs able to operating quite a few purposes throughout service strains, seamlessly integrating scientific imaging and administrative information. As of 2024, greater than 2,500,000 distinctive affected person information can have been analyzed via the Ferrum Enterprise AI Platform.

“The healthcare business is raring to understand the potential of AI, however adoption stays restricted on account of safety, security and scalability challenges,” mentioned Pelu Tran, CEO of Ferrum Well being. “Ferrum solves this drawback by offering a safe platform that allows well being programs to implement AI with out sacrificing information privateness or innovation. Our new funding permits us to give attention to product improvement and associate growth so healthcare professionals can harness the facility of AI to make extra knowledgeable selections and enhance affected person outcomes.”