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Investment of $150 million secured by Aidoc for foundation artificial intelligence model

Rapidly advancing AI technology, referred to as CARE, is projected to expedite the creation of artificial intelligence models capable of addressing a wider range of health-related issues.

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AI company Aidoc secures $150 million for development of foundation model using artificial...
AI company Aidoc secures $150 million for development of foundation model using artificial intelligence

Investment of $150 million secured by Aidoc for foundation artificial intelligence model

In a significant move for the healthcare industry, artificial intelligence company Aidoc has secured over $150 million in investments to advance its AI models for clinical decision support. This funding round, led by venture capital firms General Catalyst and Square Peg, aims to propel Aidoc's flagship model, CARE, and its enterprise AI operating system, aiOS.

CARE, a healthcare foundation model, is designed to improve clinical decision-making by flagging high-risk findings, automating follow-ups, and enabling real-time inference with high performance and efficiency. Aidoc plans to scale and commercialise CARE, with the goal of supporting clinical decision-making for over 100 million patients.

The aiOS platform serves as an enterprise operating system that supports the deployment and governance of multiple AI models—including both Aidoc's and third-party algorithms—at scale across health systems. It offers real-time monitoring, seamless integration into clinical workflows, and outcome measurement to ensure responsible and effective AI usage. Currently, 69% of Aidoc's customers use non-Aidoc models on aiOS, highlighting its role as an open ecosystem rather than a closed proprietary tool.

Aidoc's AI has demonstrated impact through partnerships like the recent deployment at Advocate Health, where AI algorithms integrated into imaging workflows help radiologists prioritise critical cases (pulmonary embolism, intracranial hemorrhage) leading to faster diagnoses for nearly 63,000 patients annually across 22 sites in Wisconsin and North Carolina.

With this investment, Aidoc expects to cover more clinically relevant diseases in the future, such as cancer and cardiovascular conditions, with its CARE foundation model. The technology supports Aidoc and third-party models, and Aidoc plans to invest more than $150 million in the coming years to expand both CARE and aiOS.

Aidoc also plans to expand aiOS, fostering an ecosystem of AI solutions with real-time governance and outcome-driven deployment. The investment will be used for strategic initiatives with cloud and hardware providers like Nvidia and Amazon Web Services to enhance AI performance and accessibility.

Chief Technology Officer, Michael Braginsky, expects "foundation models will soon be as ubiquitous in healthcare as ChatGPT is in general use." This investment marks a significant step towards transforming clinical AI from diagnostic assistance to a comprehensive, connected platform driving improved healthcare outcomes.

Since its inception in 2016, Aidoc has looked to develop broader foundation models, which can be used to detect multiple features in an image. The company has already received Food and Drug Administration clearance for two solutions based on the CARE model: one for rib fracture and another for aortic dissection. Aidoc currently supports over 150 health systems and has done enterprise-wide rollouts at Advocate Health and Sutter Health with its solutions.

This investment round includes a $40 million revolving credit facility and participation from Nvidia's venture capital arm, NVentures, and health systems Hartford HealthCare, Mercy, Sutter Health, and WellSpan Health. With these funds, Aidoc is poised to revolutionise the healthcare industry by making AI an integral part of clinical decision-making processes.

  1. Aidoc's flagship model, CARE, is designed to enhance clinical decision-making for over 100 million patients by flagging high-risk findings, automating follow-ups, and enabling real-time inference with high performance and efficiency.
  2. The aiOS platform serves as an enterprise operating system, supporting the deployment and governance of multiple AI models, including Aidoc's and third-party algorithms, at scale across health systems.
  3. With this investment, Aidoc expects to cover more clinically relevant diseases in the future, such as cancer and cardiovascular conditions, with its CARE foundation model, which supports both Aidoc and third-party models.
  4. Aidoc plans to expand aiOS, fostering an ecosystem of AI solutions with real-time governance and outcome-driven deployment, and will invest more than $150 million in the coming years.
  5. This investment round includes participation from Nvidia's venture capital arm, NVentures, and health systems like Hartford HealthCare, Mercy, Sutter Health, and WellSpan Health, positioning Aidoc to revolutionise the healthcare industry by making AI an integral part of clinical decision-making processes.

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