Boston, MA, and Tel Aviv, Israel – February 17, 2016 – MedyMatch Technology, Ltd., the artificial intelligence healthcare startup, announced today its launch and vision to improve performance in healthcare with real-time decision support tools, starting in the Emergency Room. Additionally, the Company announced that Mr. Gene Saragnese joined as Chairman & Chief Executive Officer.
“I am thrilled to be joining the Company in this capacity and at this time in its history,” said Mr. Saragnese. “MedyMatch’s unique ability to deliver better clinical care at a lower cost is exceptionally positioned in the industry, and our technology, artificial intelligence-based image classification, will provide physicians with the deep contextual patient insights they need to make the right assessment in challenging acute care settings when every minute is critical.”
Prior to joining the Company, Mr. Saragnese was the Chief Executive Officer of Phillips Imaging Systems, a multi-billion dollar medical imaging division of Phillips Healthcare. Before serving at Philips Healthcare, Mr. Saragnese headed up the CT, Molecular imaging, and image processing divisions within GE Healthcare. Prior to that, he was the overall GE Healthcare Chief Technology Officer and the General Manager of GE’s MRI business. MedyMatch utilizes deep vision, advanced cognitive analytics and artificial intelligence to deliver real-time decision support tools that, when paired with standard emergency room imaging platforms, enables any radiologist or emergency department physician to recognize the hardest to see or most obscure conditions as easily as the most common.
Despite advancements in medical imaging technologies, the medical imaging misdiagnosis rate in the emergency room has remained unchanged for 30 years, with misdiagnosis occurring in approximately 30% of cases.
According to the American Heart Association and American Stroke Association (AHA/ASA), by 2030, there will be approximately 3.4m stroke victims annually in the U.S., with a total cost of $240b. 42% of this cost -some $183b – is the annual direct medical and extended care expenses, a number that MedyMatch can help drastically reduce given its accuracy in the treatment window, helping lead to fewer long-term chronic conditions.
MedyMatch will also increase its presence and capabilities in North America with the opening of its first US office, in Boston, MA. The office will provide support for the Company’s rapidly expanding list of clinical trial partners, machine and deep learning collaborations, and it’s ongoing product development.
About MedyMatch Technology, Ltd.
MedyMatch utilizes advanced cognitive analytics and artificial intelligence to deliver real-time decision support tools to improve clinical outcomes in acute medical scenarios. The foundation of clinical discovery and value creation lies in the deep clinical understanding of how to diagnose disease, utilizing the right data (electronic medical record, medical imaging, and genomic data). MedyMatch’s vision includes an innovative approach in re-defining ‘capacity in healthcare’ by applying advanced analytic technologies in the emergency room setting to prognosticate downstream cost of care outcomes. The MedyMatch team of artificial intelligence, machine learning, deep learning, and algorithmic experts along with its medical and scientific advisory boards are achieving breakthroughs in standards of cost and care.