Boston, USA-based medical imaging and AI developer company, PaxeraHealth closed its Series A funding. The company announced the closure on December 16, 2022. However, it did not disclose the amount of the financing. Sopris Capital led the round for the company.
Purpose of financing for PaxeraHealth
With the latest financing from the Series A funding, the company aims to accelerate further its enterprise medical imaging and AI authoring platforms capabilities.
Meanwhile, it has plans to expand its product offerings to more healthcare facilities. PaxeraHealth intends to continue providing best-in-class support and services for its fast-growing and high-profile client base.
What the founder of the company has to say
Dr Mohamed Shoura, founder and chief executive officer, PaxeraHealth, said, “We are thrilled to partner with a supportive, successful investor who sees the disruptive potential of AI in Healthcare.”
He further added, “Our goal is not to build yet another AI algorithm but to democratize AI in medical imaging and make it accessible, affordable and faster to deploy. PaxeraHealth’s industry-first “Algorithm as a service” platform is designed to enable healthcare facilities to create AI algorithms with no coding, using their own imaging data sets. This will accelerate AI adoption and help reduce diagnostic errors in medical imaging, thus reducing overall healthcare costs.”
What the lead investor has to say
Taylor Paul, lead on the deal at Sopris Capital, said, “With imaging volumes on the rise creating vast demand on imaging-focused clinicians, PaxeraHealth’s differentiated solution enables these clinicians to create their own customized AI models that easily integrate into their existing workflow expediting their processes and yielding more accurate results.”
About the company
Mohamed Shoura founded the company in 2014. The Boston-based company is a world-leading, innovative medical imaging platform developer. It designs next-generation technology to automate clients’ workflow, elevate patient care and improve clinical, financial, as well as operational outcomes.
The company’s zero-coding authoring platform offers “Algorithm as a service.” It expedites the production of clinically validated imaging AI algorithms and reduces algorithm development timelines and costs. Since the demand for AI in medical imaging to support radiologists in diagnosing a wide variety of diseases continues to grow, as healthcare and research facilities face an increasing need for a large number of algorithms for different types of abnormalities and diseases, some of the largest healthcare facilities in the world, use PaxeraHealth’s authoring tools.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
