CVAid Medical, a Tel Aviv, Israel-based digital health company, raised $4M in funding.
The round was led by Rad Biomed investment fund with participation form Philips, Sanara Capital.
The company intends to use the funds to expand operations and accelerate its business reach.
Led by CEO Oren Dror, CVAid Medical has developed a platform based on artificial intelligence for diagnosing and treating cerebrovascular accidents (CVAs, or strokes). The system allows medical teams to perform a neurological examination based on a video recording and recording of the patient’s voice using a smartphone, and to process the image and voice data sent to its cloud server. Using algorithms and artificial intelligence (AI) developed in house, the technology enables analysis of the data in real time, and comparison with the medical records stored by the company. This provides the triage clinician with a tool for immediate diagnosis, with a high degree of accuracy, of whether the patient has had a stroke and definition of its severity.
In addition, analysis of the data also gives the clinician a set of tools for making quick decisions regarding the actions required to treat the stroke, improving the speed and quality of providing treatment.
The platform also allows non-professional staff, such as in retirement homes, nursing homes, or family members, to film the patient when there is fear of a stroke – and in the event of a positive diagnosis, to perform a rapid evacuation process and put the medical staff on alert. This enables remote diagnosis, control and management of patients suspected of suffering a stroke at a very early stage, and coordination of the evacuation and transfer of the patient to the appropriate medical center, as well as preparing and readying the medical staff in advance immediately upon arrival of the ambulance to the hospital.
To date, the company has conducted clinical trials at a number of hospitals in Israel and Europe, and examined hundreds of patients.
CVAid Medical was established in 2018 by CEO Oren Dror, Executive Chairman Danny Farin, CTO Nadav Eichler, Dr. Rotem Sivan-Hoffman, senior physician and director of the radiology department at Meir Medical Center, and Dr. Shmuel Raz, a scientist and inventor.
FinSMEs
01/03/2022