GE Healthcare in collaboration with Nex Cubed select six digital health start-ups for inaugural Edison Accelerator in Canada
August 09 2022 - 9:24AM
Six digital health start-ups from five countries have officially
become the first cohort of the Edison Accelerator in Canada – a
program designed by GE Healthcare and delivered in collaboration
with Nex Cubed to accelerate, validate, and scale innovative
solutions that address important challenges in the healthcare
sector.
The selected companies all focus on applying Artificial
Intelligence (AI) to augment medical imaging with the potential to
transform how healthcare is delivered. AI is poised to increase
productivity and the efficiency of care delivery and allow
healthcare systems to provide better care to more people. AI can
help improve the experience of healthcare practitioners, with the
goal of enabling them to spend more time in direct patient care and
reducing burnout.
The selected companies were chosen as they demonstrated
innovative and scalable solutions to pressing problems in the
healthcare sector. “GE’s Edison Digital Health Platform is designed
with specific focus on hosting applications developed by innovative
third parties. It comes with a rich set of development tools to
build and integrate applications. We are starting to see the use of
AI in clinical practice and our goal is to accelerate this by
supporting the most promising innovators and playing an active role
in the Canadian health tech ecosystem.” said Paritosh Dhawale, PhD,
SVP and GM, Edison Digital Health Platform at GE Healthcare. The
companies in the program are:
- 16 Bit Inc : 16 Bit is a physician-founded startup that
created a computer-aided detection and notification software that
is intended to function as an opportunistic prescreening device for
low bone mineral density using routinely acquired x-rays of the
chest, spine, pelvis, knee or hand.
- Bot Image : Bot Image is a medical device company that
created a product for post-processing MRI that is using artificial
intelligence (AI) to aid physicians in image interpretation by
providing highly accurate prostate cancer diagnostics. The software
is provided as a SaaS model or can be installed behind the client’s
firewall.
- CardioWise: CardioWise is an AI cardiac image analysis
company that simplifies the diagnosis of heart disease enabling a
quantitative diagnostic evaluation of the heart system using CT
data. CardioWise analysis will provide caregivers with next
generation algorithms and data to help physicians to make better
more informed decisions about patient care.
- contextflow : contextflow develops deep
learning-based tools to enable radiologists to complete their daily
workload faster and with higher quality and offers comprehensive
clinical decision support for lung CT, providing quantitative and
qualitative analysis of lung disease patterns and nodules related
to ILD, COPD and lung cancer.
- corelinesoft : corelinesoft specializes in AI
development that provides medical image processing solutions with a
mission to drive for a future where one simple scan can reveal any
ailment and provide for early screening and prevention – for
example utilizing AI to detect nodules that have the possibility of
progressing into lung cancer.
- US2.ai : Us2.ai is a software start-up founded in 2017
and backed by Sequoia; Singapore's Agency for Science, Technology
and Research; and IHH Healthcare that automates the fight against
heart disease through AI with AI-structured reports processed
automatically in under 2 minutes.
“We are honored to have this exceptional group of companies on
board our first Canadian Edison accelerator. Each of our finalists
are solving real problems in medical imaging and we look forward to
working with them over the coming months,” said Matthew Khoory,
Senior Director – Solutions and Digital Development, GE Healthcare
Canada.
As such, in addition to the six startups, Circle Cardiovascular
Imaging, a prominent global medical imaging company, who is already
collaborating and has integrated its stroke-focused AI-based tools
with GE Healthcare’s FastStroke processing platform, is leveraging
the Edison Accelerator to accelerate the integration of its
StrokeSENS software with the Edison Platform.
Over the next three months, the seven companies will test their
solution within the Edison Digital Health Platform, which takes a
vendor-agnostic approach to developing and deploying Artificial
Intelligence at scale integrated within the clinical workflow. Each
company will get a customized program plan and hand-picked mentors
with the aim to accelerate integration and commercialization.
“Nex Cubed has a successful heritage of startup formation and
acceleration for companies ranging from ideation to innovation,
angel to seed, and growth to IPO. This enables us to work with
companies at any stage, across the globe from the USA, Luxembourg,
Singapore, Korea, Canada and beyond,” said Marlon Evans, CEO at Nex
Cubed. “Through our collaboration with GE Healthcare, we are able
to accelerate the growth and impact of innovative digital health
solutions tackling critical issues within the healthcare
ecosystem.”
The program culminates with an Innovation Showcase during which
all participants will present to a network of investors, potential
business partners and customers, who could help take their
companies to the next level. Subject to applicable regulatory
authorizations, successful applications may have the opportunity to
be distributed through the GE Healthcare Marketplace after
culmination of relevant steps that include commercial distribution
agreements. GE Healthcare Marketplace is GE Healthcare’s online
store that allows customers to find and buy applications from a
range of third-party developers that can be integrated within their
clinical and operational workflows to help healthcare providers
improve patient care.
About GE Healthcare:
GE Healthcare is the $17.7 billion healthcare business of GE
(NYSE: GE). As a leading global medical technology, pharmaceutical
diagnostics and digital solutions innovator, GE Healthcare enables
clinicians to make faster, more informed decisions through
intelligent devices, data analytics, applications and services,
supported by its Edison intelligence platform. With over 100 years
of healthcare industry experience and around 48,000 employees
globally, the company operates at the center of an ecosystem
working toward precision health, digitizing healthcare, helping
drive productivity and improve outcomes for patients, providers,
health systems and researchers around the world.
About Nex Cubed:
Nex Cubed is an investor and innovation partner that empowers
startups, investors, corporates, academia, and governments to bring
new technologies to market, helps rising companies scale, and
provides paths to liquidity - the power of three. Over the last 5
years, Nex Cubed has established itself as a leader in corporate
innovation and startup acceleration, creating a global ecosystem of
3 industry-specific COEs (Frontier Tech, Digital Health, and
FinTech), 81 portfolio companies, 20+ corporate partners, 100+
investment partners, 50+ strategic advisors, and over 140 mentors.
To date, Nex Cubed portfolio companies have an aggregate value of
over half a billion dollars and nearly 60% of the Nex Cubed
portfolio is led by female or minority founders.
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Linh Dinh
GE Healthcare
linh.dinh@ge.com
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