Healthcare Delivers is undergoing a transformative shift, with new technologies enabling breakthroughs that were once unimaginable. According to the World Economic Forum, recent advancements include tools capable of detecting fractures, predicting ambulance needs, identifying early signs of over 1,000 diseases, and using clinical chatbots to guide decision-making. Researchers at McKinsey & Company highlight how these innovations are unlocking insights from previously inaccessible data, driving unprecedented consumer engagement and personalization in medicine. Mayo Clinic experts stress that “Deployment is King,” as these technologies begin to take root in healthcare systems worldwide. Leading the charge are innovators such as Avant Technologies, RadNet, Inc, Stryker Corporation, Absci Corporation, and Twist Bioscience Corporation.
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The article continued: Analysts at MarketsandMarkets Research forecast the AI in Healthcare Market to expand at a remarkable 48.1% CAGR, reaching $148.4 billion by 2029. With billions in investment pouring in, the World Economic Forum emphasizes the need for strategic spending, workforce adaptation, and proactive preparation to ensure these innovations achieve their full potential in reshaping global healthcare.
Avant Technologies and Ainnova Advancing Proprietary Retinal Camera to Market with Vision AI Software
Avant Technologies, Inc, an emerging technology company developing solutions in artificial intelligence (AI) infrastructure while exploring additional technologies in the biotechnology and healthcare sectors, today announced an update from its Joint Venture (JV) with Ainnova Tech Inc. (AINN), a leading healthcare technology (healthtech) company. The announcement details advances from their newly-formed JV entity Ai-nova Acquisition Crop. (AAC), particularly with Ainnova’s proprietary low-cost retinal camera, which will be used for fundus photography, and seamlessly packaged together with Ainnova’s Vision AI software platform for commercialization.
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By combining the two technologies, Ainnova’s versatile camera will provide precise retinal scans to its AI software leading to even more accurate data. Currently, Ainnova’s Vision AI software works well with any fundus camera on the market; however, Ainnova and Avant are aiming for exclusivity by developing a lower-cost, easier to use camera that captures retinal images automatically and then uploads those images to the Vision AI software platform, which then produces a “risk report” in mere seconds.
“Our vision is that the retina will be a new standard in primary care, as basic as taking a patient’s blood pressure, and together with other datapoints, such as demographic data or laboratory results, to generate a complete report of preventive medicine,” said Vinicio Vargas, CEO of Ainnova, and member of AAC’s Board of Directors. “The goal is to provide patients with a risk screening so that they can be referred to the appropriate specialist. Our proprietary retinal camera, combined with our VisionAI software technology will offer a real accessible opportunity for early detection—and this is how we are going to impact the world.”
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AAC will develop the retinal cameras as part of the joint venture and licensing deal to facilitate the development of Ainnova’s technology portfolio. AAC owns the licensing rights to develop, maintain, and market Ainnova’s technology portfolio in both North America (United States and Canada) and throughout Europe.
As well, AAC will market the two technologies as a Software as a Service (SaaS) + retinal camera package with the hope of making retinal scans a part of routine healthcare. The business model is a pay-per-use platform, per patient, monthly, aimed at primary care clinics, insurance companies, opticians, pharmacies, occupational health companies that provide the service to employees of many companies, and pharmaceutical companies that sell the treatments or therapies.
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Ainnova currently has commercial agreements with pharmaceutical companies, clinics, insurance companies, and medical service providers, and these relationships should offer AAC guidance into marketing the SaaS + retinal camera package in the North American and European markets.
Avant sees this partnership as advantageous to the company and its shareholders given how the AI in healthcare market is projected to grow from $6.9 billion just 3 years ago to $67.4 billion by 2027, at a CAGR of 46.2% during the forecast period.
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Source – Prnewswire
