Company Overview
American HealthCare Capital is pleased to exclusively present an opportunity to invest in a highly scalable comprehensive AI solution for medical imaging. The company offers artificial intelligence software to streamline imaging diagnosis and reporting for healthcare providers. Their solution enhances precision in billing procedures and enables practices to expand patient volume without increasing staff. The AI technology automates workflows to boost efficiency. This allows radiology groups to scale their operations and raise productivity without compromising quality or accuracy.
Facing Big Problems
In healthcare facilities of all sizes, medical imaging reporting takes up an excessive amount of healthcare workers’ time. This inefficiency results in less patient interaction and slower diagnoses that delay treatment. Imaging systems that cannot share data compound the problem. Since image interpretation varies by individual, misdiagnoses and errors frequently occur, jeopardizing patient wellbeing and exposing providers to liability. The conventional diagnostic workflow contains redundant steps and bottlenecks that necessitate more qualified staff and inflate operational costs for healthcare organizations. To summarize:
- Excessive time is spent by the provider to generate imaging reports.
- Slow diagnosis and delayed treatment are caused by soiled imaging data.
- Conventional diagnoses are subject to misinterpretation, increasing risk for patients and providers.
- Operational inefficiencies lead to higher overhead costs.
Solving the Big Problems
The Company’s innovative cloud platform leverages artificial intelligence to efficiently deliver imaging analysis software on demand. This SaaS offering allows healthcare providers to swiftly generate precise imaging reports, boosting productivity in diagnostics.
Their AI-powered system optimizes the diagnostic workflow, lowering operating costs and time allocated to creating reports. This results in substantial savings for medical facilities. The expedited and more precise results also help raise revenue by improving patient volume and reducing diagnostic mistakes.
In addition, seamless sharing and collaboration of imaging information is facilitated between healthcare providers. This further enhances patient care through integrated and well-informed clinical decision-making.
The Sales Pipeline Traction and Financials
The company has secured $1.55 million in funding from its founders, family, and friends. With this capital, the company launched an artificial intelligence solution for medical imaging in over 300 healthcare facilities and signed up 50 paying customers. The company generated $1.3 million in revenue in 2023 and $1.9 million in the first quarter of 2024. The company projects recurring revenue of $3 million in 2024 and expects to become profitable in the third quarter of 2024. The company forecasts $6 – 7 million in annual recurring revenue by the end of 2025 based on current contracts under negotiation and several smaller deals.
The Ask
The founders and management team have played an instrumental role in developing, testing, and deploying the company’s comprehensive AI solution for medical imaging to market. The solution is highly scalable across all types of healthcare facilities.
The company is now seeking a strategic partner with the financial resources and experience to help aggressively market the solution and scale it to achieve market domination. The founders are open to all deal structures, including raising capital in exchange for equity, convertible debt, or selling a majority stake in the company to achieve their goals. The asking price is yet to be determined.
