Medimaps Group, a global company headquartered in Switzerland, is specialized in image processing software for the assessment of bone health. The company’s current flagship product, Trabecular Bone Score (TBS iNsight), has received medical reimbursement in the U.S. beginning January 1, 2022. The funds raised will be used to expand its product portfolio with the development and market in the U.S., Europe, Asia, and Latin America.
Medimaps Group has secured $20 million in an institutional investment round led by Swisscanto Invest by Zürcher Kantonalbank, alongside Swiss Entrepreneurs Fund, Swisscom Ventures, and Verve Ventures. The company’s product TBS iNsight enables clinicians to identify patients with a high risk of an osteoporotic fracture sooner.
The estimated cost of these fractures per year in the United States is $52B and $57B in Europe, according to the National Osteoporosis Foundation and the International Osteoporosis Foundation respectively, and these costs are expected to grow exponentially with the aging population. This phenomenon is largely a result of the fact that 75% of high-risk patients are not being diagnosed, nor screened, in a timely manner. Of the patients receiving a bone mineral density (BMD) assessment, roughly 40% are incompletely diagnosed, because BMD can only measure quantity of bone, not quality of bone.
Medimaps Group’s TBS iNsight provides deep tech bone texture analysis related to bone micro-architecture to assess bone quality. It has been shown that 30% of osteopenic patients are reclassified with TBS.Their technology utilizes already acquired images and therefore does not expose the patient to additional radiation and it integrates seamlessly into the workflow.
“We are delighted, alongside our investment partners, to lead the investment in Medimaps,” said Dr. Robert Schier, Investment Director PE/VC, Swisscanto Invest. “We were very impressed with their level of clinical validation and medical acceptance worldwide. Medimaps is positioned well to lead the way for innovative solutions for bone health assessment and advancing A.I. analytics in medical imaging. Their technology can make a real difference in medical practices and ultimately improve patient’s lives. And now with reimbursement in the US, Medimaps’ solutions will be widely available.”
Medimaps’ proprietary and patented technology is empowered by deep learning multi-layer approach. This technology is applied to a wide spectrum of image modalities and resolution thereby providing solutions ranging from opportunistic X-ray based screening, to patient risk profiling, and to presurgical assessment.
(Press release / SK)
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