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© kentoh dreamstime.com Business | June 01, 2017

TeraRecon acquires McCoy Medical Technologies

TeraRecon acquires machine learning company, McCoy Medical Technologies and spins out a new AI platform company aimed at simplifying access and use of 3rd party computer vision and artificial intelligence applications.
Initially called WIA Corporation, a new company has been formed to provide simplified access to artificial intelligence (AI) algorithms with a focus on integrations that connect the work of individual end users, machine learning researchers, open source organizations and diagnostic imaging companies. The company’s products include a developer platform and a vendor neutral API interface for integration partners designed to streamline the distribution and hospital implementation of evidence-based practices and trained machine learning algorithms. The McCoy platform allows users anywhere to access cloud-based algorithms without requiring access to the algorithm code or training data to protect PHI and developer ­­­intellectual property.

As part of the transaction, the new independent company retains the McCoy Medical advisory board, including three imaging informatics experts: Dr. Eliot Siegel, Dr. Paul Chang and Dr. Khan Siddiqui.

Jeff Sorenson, TeraRecon President and CEO, said “The new company’s platform is open to everyone, from individual physician-inventors, to research institutions, and the world’s largest PACS vendors alike. Together, this new company becomes a catalyst to join the various AI communities together.” He continued, “Our goal is to incubate and accelerate a new kind of AI platform that allows a proven algorithm to be productized in 20 minutes.”

Misha Herscu, McCoy CEO, commented, “This transaction results in a company with a unique combination of technology, healthcare-specific expertise and commercial reach. We look forward to meeting with potential collaborators and partners at SIIM17 and introducing these new possibilities.”

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July 08 2017 11:27 AM V8.5.6-2