Medical imaging company OXOS Medical scored $23 million in Series A funding from Intel Capital and Parkway Venture Capital, bringing its total raise to $45 million.
Gregg Hill, Parkway’s cofounder and managing partner, and Eric King, Intel Capital’s investment director, will join OXOS’ board of directors.
WHAT THEY DO
The Atlanta-based company offers an FDA 510(k)-cleared handheld X-ray system that can be used for static and serial diagnostic images of the extremities, dubbed the Micro C Medical Imaging System. The device connects directly to OXOS’ cloud platform, where physicians can access images.
The funds will be used to expand the company’s product availability worldwide and speed up product innovation.
“At OXOS, we have made it our mission to close the growing healthcare divide – the inaccessibility of radiographic technology is impairing patient outcomes in every corner of the globe,” Evan Ruff, cofounder and CEO of OXOS, said in a statement.
“We aim to put safe, powerful, and simple X-ray technology in the hands of urgent care centers, sports teams, home care, and international mission operations, where a real-time diagnosis is critical to saving human lives.”
MARKET SNAPSHOT
OXOS first received FDA clearance for its Micro C System in 2021. Last year, it acquired another FDA 510(k) clearance for the device that included its AiLARA System, an AI-automated radiation dosage engine.
Accessing imaging in low- to middle-income countries can be difficult. OXOS is pitching its device as a way to allow more individuals worldwide to access X-ray imaging technology.
Another company working to make imaging devices more portable is Philips, which created Lumify, a handheld ultrasound transducer that can be plugged into a smartphone or a tablet and brought to a patient’s bedside.
Darren Mann, Kathryn Kuttler and Dr. Peter Haug will offer more detail during the HIMSS23 session “Improved Patient Care Enabled by Real-Time Interoperable Clinical Decision Support.” It is schedule for Thursday, April 20 at 4 p.m. – 5 p.m. CT at the South Building, Level 1, room S105 C.
