AIRS Medical Secures $20M in Series C Funding to Advance AI-Powered Preventive Healthcare Solutions

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Jul 10, 2024, 06:45 ET

SEOUL, South Korea, July 10, 2024 /PRNewswire/ -- AIRS Medical, a pioneering force in artificial intelligence (AI) and robotics for healthcare applications, today announced the completion of its Series C funding round, securing $20 million from seven institutional investors in Korea. The investment, led by BSK Investment and Shinyoung Securities, underscores confidence not only in the company's flagship product, SwiftMR™, but also in its larger mission to revolutionize preventive healthcare through technology innovation.

Transforming MRI

SwiftMR™ uses deep learning technology to enhance magnetic resonance imaging (MRI) scan speeds by as much as 50% compared to the standard of care.* On average, radiology centers and hospitals that integrate SwiftMR™ achieve a 38% increase in patient throughput and a 22% reduction in business hours, leading to $44,000 per month in additional revenue and an $8,000 reduction in monthly operating costs.

SwiftMR™ is a scan time reduction solution with whole pulse-sequence coverage and true super resolution. This cutting-edge technology has set the standard in diagnostic imaging, helping to address critical roadblocks radiology centers and hospitals face, such as long patient wait times and the downstream effects of delayed diagnoses.

Improving patient outcomes

A frequent problem in healthcare is the delayed diagnosis of patients, often after symptoms have advanced. This, along with resource shortages, results in worse outcomes.

AIRS Medical is paving the way to detect diseases proactively, before they manifest. Through AI and robotics, AIRS Medical is democratizing the best diagnostics and prognostics, reducing costs and increasing the accessibility of MRI scans. Ultimately, this empowers patients with conditions such as dementia, stroke, and cancer to receive early diagnoses and improve their chances of better health.

Expanding access to care

In its quest to deliver the highest-quality preventive care to all, AIRS Medical is rapidly expanding. Backed by a talented team, SwiftMR™ was initially launched in Korea in 2021. By 2023, the technology had successfully entered the United States and Europe, markets that now account for over half of the company's annual recurring revenue (ARR).

"We're thrilled to receive this substantial support from our investors," said Hyeseong Lee, CEO of AIRS Medical. "This funding will empower us to increase access to preventive healthcare services and create a healthier future for people around the globe."

Building a better future

With this latest round of funding, AIRS Medical is poised to accelerate its growth and innovate beyond the award-winning SwiftMR™. The company plans to expand its presence in international markets, invest in research and development, and ultimately improve patient outcomes worldwide.

For more information about AIRS Medical, visit https://airsmed.com/en/.

*For investigational purposes in countries outside of the United States, South Korea, Canada, Brazil, Japan, Taiwan, Malaysia, Saudi Arabia, UAE, Thailand, Vietnam, and Indonesia. FDA 510(k)-cleared to support images with scan time reduction by up to 50% in the United States.