Ferrum Health, a developer of artificial intelligence (AI) platforms for healthcare, announced that it recently raised $6 million in a funding round led by Urban Innovation Fund, Cercano Management, and Singtel Innov8.
“We are delighted to have the support of the Urban Innovation Fund, Singtel Innov8, and Cercano Management in our mission to bring AI to healthcare,” said Pelu Tran, CEO of Ferrum Health. “Our platform has already proven its value to healthcare providers, and we believe it has the potential to revolutionize the way physicians care for their patients.”
Ferrum has already seen significant traction for its Enterprise AI Platform, with major healthcare organizations such as Sutter Health and Carle Clinic adopting its technology. The company’s AI platform uses advanced machine-learning algorithms to analyze medical data and provide physicians with insights and recommendations that can help improve patient care.
dr Jason Wiesner, Chair of Radiology at Sutter Health, said, “As AI has become the standard of care across the clinical spectrum, Ferrum Health’s AI platform has been a valuable tool for our physicians. It helps us quickly and accurately ensure the quality of important things, and diagnoses and provides insights that can help us improve patient care. We look forward to continuing with Ferrum Health as their platform expands.”
The company will use the funds to further develop its Enterprise AI Platform, which aims to help healthcare providers improve patient care and expand the healthcare system’s customer base to make intelligent healthcare accessible to all.
Julie Lein, Managing Partner of the Urban Innovation Fund, added: “Ferrum Health is building the ‘Plaid for AI’ in health data. This powerful vision will transform the adoption of AI in clinical settings, reducing medical errors and saving millions of lives.”
The healthcare AI market is expected to witness significant growth in the coming years as more healthcare providers seek ways to improve patient care and reduce costs. However, adopting AI technology in healthcare can be challenging as it requires significant investment and a willingness to embrace new technologies. Ferrum helps healthcare systems to overcome challenges in introducing AI. Through a privately provided platform, Ferrum offers unparalleled data security along with a growing and extensive catalog of AI applications in a variety of therapeutic areas, driving early diagnosis and intervention.
From interpreting medical imaging to promoting equity in healthcare, AI is having far-reaching implications for the care system. Ferrum streamlines a healthcare system’s AI strategy through simplified integration and a single contract, making implementing AI in healthcare easy and equitable for everyone.
“Ferrum Health is at the forefront of the AI revolution in healthcare,” said Tran. “We are committed to helping healthcare providers overcome the challenges and costs associated with the adoption of AI technology so they can focus on providing the best possible care for their patients.”
