TeraRecon acquires McCoy Medical Technologies and spins out a new AI platform company aimed at simplifying access and use of 3rd party computer vision and artificial intelligence applications
(Thomson Reuters ONE) -
PITTSBURGH, June 01, 2017 (GLOBE NEWSWIRE) -- TeraRecon (www.terarecon.com), a
leader in advanced visualization and enterprise medical image viewing solutions,
today announced the acquisition of machine learning company, McCoy Medical
Technologies, (www.mccoymed.com), at the Society for Imaging Informatics in
Medicine's Annual Meeting (SIIM17) in Pittsburgh, PA.
Initially called WIA Corporation, a new company has been formed to provide
simplified access to artificial intelligence (AI) algorithms with a focus on
integrations that connect the work of individual end users, machine learning
researchers, open source organizations and diagnostic imaging companies. The
company's products include a developer platform and a vendor neutral API
interface for integration partners designed to streamline the distribution and
hospital implementation of evidence-based practices and trained machine learning
algorithms. The McCoy platform allows users anywhere to access cloud-based
algorithms without requiring access to the algorithm code or training data to
protect PHI and developer intellectual property.
As part of the transaction completed earlier this week, the new independent
company retains the McCoy Medical advisory board, including three world-leading
imaging informatics experts and serial entrepreneurs: Dr. Eliot Siegel, Dr. Paul
Chang and Dr. Khan Siddiqui.
Dr. Siegel shared, "This decade has seen a proliferation of extremely impressive
applications leveraging machine learning, especially for computer vision. Today,
there is a real need for simpler, standards-based channels to socialize, access
and apply these technologies. The TeraRecon and McCoy venture holds great
potential to be among the first to develop and commercialize their offerings in
the form of a truly open platform community. This kind of approach is exactly
what is needed for the amazing innovations in AI to achieve widespread
utilization."
Jeff Sorenson, TeraRecon President and CEO, said "The new company's platform is
open to everyone, from individual physician-inventors, to research institutions,
and the world's largest PACS vendors alike. Together, this new company becomes a
catalyst to join the various AI communities together." He continued, "Our goal
is to incubate and accelerate a new kind of AI platform that allows a proven
algorithm to be productized in 20 minutes."
Misha Herscu, McCoy CEO, commented, "This transaction results in a company with
a unique combination of technology, healthcare-specific expertise and commercial
reach. We look forward to meeting with potential collaborators and partners at
SIIM17 and introducing these new possibilities."
The acquisition is aligned with the main interests of the SIIM17 conference
attendees. The keynote address, titled "Harnessing Artificial Intelligence,
Medical Imaging's Next Frontier", focuses on the potential impact of artificial
intelligence on the medical imaging industry and the many uses of AI in
healthcare.
Visit WIA Corporation and TeraRecon June 1(st)-3(rd) during SIIM17 in
Pittsburgh, Pennsylvania at Booth #603, as well as at the Society of Vascular
Surgery's 2017 Annual Meeting in San Diego, California at Booth #510.
About McCoy Medical Technologies (www.mccoymed.com) McCoy Medical Technologies
provides a developer platform and API interface for algorithm developers,
partners and end users. McCoy facilitates the streamlined distribution and
hospital implementation of evidence-based practices and trained machine learning
algorithms via a vendor neutral distribution platform. The McCoy platform allows
users anywhere to access cloud-based algorithms without requiring access to the
algorithm code or training data to protect PHI and developer intellectual
property. McCoy assists research institutions and emerging AI companies in the
translational and commercialization processes, starting with rapid deployment
via a scalable, secure, cloud-based infrastructure. McCoy also works with
distribution partners, including TeraRecon, to make algorithms on the platform
available to a very wide footprint of hospitals and, ultimately, to physicians.
Press Inquiries:
US: 1-413-320-6636 | info(at)mccoymed.com
About TeraRecon (www.terarecon.com) TeraRecon is the largest independent, vendor
neutral medical image viewing solution provider with a focus on advanced image
processing innovation. TeraRecon's solutions advance the accessibility,
performance, clinical functionality and medical imaging workflow throughout many
areas of the healthcare ecosystem. The company provides world class advanced
visualization 3D post-processing tools, as well as a spectrum of enterprise
medical image viewing, diagnostic interpretation, image sharing, cloud,
interoperability and collaboration solutions. TeraRecon is a privately held
company with its world headquarters in Foster City, California with major
offices in Frankfurt, Germany; Tokyo, Japan; Acton, MA, and Durham, NC.
Press Inquiries:
US: 1-650-372-1100 | info(at)terarecon.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TeraRecon, Inc via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 01.06.2017 - 11:00 Uhr
Sprache: Deutsch
News-ID 545697
Anzahl Zeichen: 5944
contact information:
Town:
Foster City
Kategorie:
Business News
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