Developer of an artificial intelligence (AI) platform for the healthcare industry, Ferrum Health, recently raised $6 million in a funding round that was co-founded by Urban Innovation Fund, Cercano Management, and Singtel Innov8.
“We are excited to have the support of Urban Innovation Fund, Singtel Innov8, and Cercano Management in our mission to bring AI to healthcare”, “Our platform has already demonstrated its value to healthcare providers, and we believe it has the potential to revolutionize the way doctors deliver care to their patients.”
Pelu Tran, CEO, Ferrum Health
Major healthcare organizations like Sutter Health and Carle Clinic have already adopted Ferrum’s Enterprise AI Platform, demonstrating the platform’s strong market momentum. The business’ AI platform analyses medical data using sophisticated machine learning algorithms to give clinicians recommendations and insights that can enhance patient care.
“With AI becoming standard of care across the clinical spectrum, Ferrum Health’s AI platform has been a valuable tool for our doctors. It helps us quickly and accurately ensure the quality of important diagnoses, providing insights that can help us improve patient care. We are excited to continue with Ferrum Health as their platform expands.”
Dr. Jason Wiesner, Chair of Radiology at Sutter Health
The business plans to utilise the funds to further develop its Enterprise AI Platform, which was created to assist healthcare professionals in providing better patient care, as well as to increase the number of people who use its health system, making intelligent healthcare more widely available.
“Ferrum Health is building the ‘Plaid for AI’ in healthcare data. This powerful vision will transform the adoption of AI in clinical settings, reducing medical errors and saving millions of lives.”
Julie Lein, Managing Partner of Urban Innovation Fund
As more healthcare providers explore for ways to enhance patient care and cut costs, the market for healthcare AI is anticipated to develop significantly over the coming years. Adopting AI technology in healthcare can be difficult, though, as it necessitates a substantial financial commitment and a willingness to try new things. Ferrum aids health systems in overcoming obstacles to AI deployment. Ferrum provides unmatched data protection through a privately installed platform, as well as a developing and wide portfolio of AI applications across a variety of therapeutic fields that promote early diagnosis and intervention.
AI has a significant impact on the way healthcare is delivered, from interpreting medical images to promoting equity in the industry. Through a streamlined integration and a single contract, Ferrum streamlines a health system’s AI strategy, making the adoption of healthcare AI simple and fair for everyone.
“Ferrum Health is at the forefront of the healthcare AI revolution”, “We are committed to helping healthcare providers overcome the challenges and costs associated with adopting AI technology, so they can focus on delivering the best possible care to their patients.”
Pelu Tran, CEO, Ferrum Health