FII Institute Announces Investment in AZmed, Helping to Address Global Shortage in Radiologists
PR92671
RIYADH, Saudi Arabia, October 28, 2021 /PRNewswire=KYODO JBN/--
The Future Investment Initiative (FII) Institute has announced a 1 million EUR
investment in AZmed, developers of Artificial Intelligence-enabled diagnostic
applications which can help address the shortage of radiologists around the
world.
The investment, which is part of AZmed's latest 3.5 million EUR round, builds
on the Institute's commitment to catalyze globally relevant, real-world
solutions in five focus areas: Artificial Intelligence and Robotics, Education,
Healthcare and Sustainability. AZmed is a medical technology company that
develops AI-enabled diagnostic applications for medical images.
AZmed CEO Julien Vidal said the company is addressing the recognised global
shortage of radiologists. "Our goal is to be the trusted tech partner for every
doctor analysing a medical image anywhere in the world," he said. "We are
excited to work with the FII Institute which will bring strategic value to
AZmed through connections with healthcare and AI specialists in its network, as
well as go-to-market partners in the United States and MENA region."
The AZmed investment announcement comes during the 5th Anniversary of FII, the
Institute's marquee platform taking place this week in Riyadh. The platform is
centered around the theme "Invest in Humanity" and discussions that can create
the greatest benefits for humanity especially in the post-COVID era.
FII Institute CEO Richard Attias welcomed the investment and said that AZmed
fits the Institute's mission to make an impact on healthcare, AI and education.
"We are very excited to support a company that is focused on life-saving
technologies. Improving products and services for radiologists is an important
issue for this specialty and we need to relieve the pressure on healthcare
systems around the world that are already stretched by limited resources."
The company's first product, Rayvolve, is a market leading, AI-powered Fracture
and chest abnormalities detection tool that was the first in its field to
receive CE-certification, ensuring the product is compliant with all applicable
European health, safety, performance and environmental requirements.
This marks the fourth FII Institute investment announced with Interstellar Lab,
a space technology company designing closed-loop biodomes for sustaining life
on Earth, the moon, and Mars; Lilium, an electric-powered aircraft reducing the
carbon impact of regional travel; and Red Sea Farms agtech making it possible
to grow food using sun and saltwater in challenging desert climates.
For more information visit https://fii-institute.org/en
About FII Institute
FII Institute is a global nonprofit foundation with an investment arm and one
agenda: Impact on Humanity. Committed to ESG principles, we foster the
brightest minds and transform ideas into real-world solutions in five focus
areas: AI and Robotics, Education, Healthcare and Sustainability.
We are in the right place at the right time – when decision makers, investors
and an engaged generation of youth come together in aspiration, energized and
ready for change. We harness that energy into three pillars – THINK, XCHANGE,
ACT – and invest in the innovations that make a difference globally.
Join us to own, co-create and actualize a brighter, more sustainable future for
humanity.
About AZmed
AZmed facilitates X-ray diagnostics thanks to artificial intelligence. It helps
doctors save time and dedicate resources to life-threatening exams. AZmed has
been the first French company to commercialize an AI-powered radiology software.
Deep learning technologies as developed by AZmed are fully integrated into
doctors' workflow, making it easy to use, without requiring any change in their
work habits.
AZmed solutions are already used in more than 250 centers. More than 2500
doctors are using their solutions on a daily basis, in 12 different countries.
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Source: FII Institute
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