HealthTech Industry Update

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According to a report from Frost & Sullivan, 80% of healthcare industry CXOs reckon that AI, big data, mhealth, and wearables will be 'game changers' during 2019. As we keep our eyes on developments in the industry, we're seeing these technologies being deployed for a variety of purposes, and in numerous combinations. We've highlighted a few examples here.

And a little reminder that we're having our Winter Sale for newsletter subscribers, with 66% off all tickets.

Barry and the GIANT Health team

HealthTech News

Novartis banking on AI
This week, Swiss pharmaceuticals company Novartis presented its full-year earnings for 2018, its first under the stewardship of Vas Narasimhan. Net sales were up 6% to $51.9bn.

The company has a goal of submitting 60 new drugs for regulatory approval by 2021. According to its CEO, big data and artificial intelligence are essential components of achieving this ambition, by reducing the cost, and increasing the speed, of drug discovery.
RPM reduces hospital readmission
In the UK, the Dartford and Gravesham NHS Trust has deployed remote patient monitoring this winter. It serves as an example of how to reduce cost, while improving patient care and outcomes. 

An AI-enabled wearable from Current provides realtime health data after patients are discharged from hospital. The system sends an alert if a patient’s health shows signs of deterioration, providing an early warning system that allows for faster intervention

Fundraising in HealthTech

Eagle Genomics, UK
  • $3.5 million
  • Led by ETF Partners

The raise will accelerate the development of Eagle Genomics' software platform to meet growing demand from enterprise companies in the consumer goods, agritech and healthcare industries.

The investment will also support global expansion, with plans to open international offices in Paris and New York to service the European and American markets.

Draper & Dash, UK
  • £3 million
  • Guinness EIS Fund
Draper & Dash’s SaaS-based analytics platform uses advanced data science and machine learning techniques to predict patient flow and demand for hospitals and care providers.

The funding will allow Draper & Dash to continue to develop its product offering as well as grow its sales and marketing resource to expand into new territories.

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Spotlight on innovators

Chief Physician at the Turku University Hospital Department of Oncology and Radiotherapy Heikki Minn examining the delineated organs and target volume. Picture:

For radiation oncologists, the laborious task of determining the treatment plan for cancer patients is being simplified and shortened with the application of AI software from Finnish company MVision.

Drawing up a detailed treatment plan requires consideration of the size and location of the tumor, as well as possible metastases. Physicians define the radiotherapy target by manually delineating structures onto multiple X-ray image slices. There can be hundreds of images, and dozens of critical tissue structures, which makes for a time-consuming error-prone process. MVision's software automatically delineates critical tissue structures for a physician to review and approve. 

MVision has now been deployed in two Finnish hospitals, Turku University Hospital (Tyks) and the Docrates Cancer Center in Helsinki, aimed at prostate cancer patients, and will soon accommodate other cancer sites including head and neck cancers, and breast cancer. The company is also now seeking to reach the global market.

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