The global ageing population and individuals affected by chronic diseases are growing exponentially. This surge has generated a growing demand for 'smart healthcare.' However, existing digital solutions frequently come with high costs and sustainability challenges, and do not adequately focus on disease prevention and early detection. Consequently, a pressing demand exists for pioneering digital solutions capable of creating a tangible impact. This is precisely where Artificial Intelligence (AI) assumes a pivotal role. It can potentially play a significant part in preventing diseases through various applications.
One company leading in this front is the US-headquartered Ainnova Tech. The health tech start-up was founded by an experienced team to create solutions for the early detection of diseases using AI and recently won the Innov8 Talks pitch competition at Florida International Medical Expo (FIME) 2023.
Ainnova Tech’s winning solution, VisionAI, is an AI-based platform for detecting diabetic retinopathy and other retinopathies in less than five seconds from retinal images, generating an effective workflow for the ophthalmologist. Diabetic retinopathy is the leading cause of blindness in working-age adults worldwide. Nearly 10 million people with diabetes in the U.S. have diabetic retinopathy, or eye damage as a result of the disease, new research shows. VisionAI has already entered markets such as Mexico and Costa Rica and is in the FDA process to enter the US market in 2024.
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In an interview with Omnia Health, Vinicio Vargas, Co-Founder & CEO, Ainnova Tech, said: “FIME 2023 was an incredible, first-class event, with the participation of highly innovative companies. Winning Innov8 Talks among such disruptive and fascinating companies was very satisfying for us and a sign that we are on the right path.”
Vargas said that the idea behind launching Ainnova Tech wasn't just about embarking on an ambitious business journey but about leaving a legacy that impacts people's lives. “That purpose connected to that of our co-founder, Rodrigo Herrera, and our team of allies, advisors and investors. Ainnova Tech is the sum of many visions condensed into a powerful purpose to impact the world with the prevention and early detection of diseases so that people from all age groups are able to live longer and better.”
Vinicio Vargas
In addition to VisionAI, the company has also integrated another solution for cardiovascular risk detection from retinal images and demographic data, with more precision compared to tools used in clinical practice, in a simple, accessible and more accurate way to refer that patient to a cardiologist. The company is also working on a tool that can do the same for early-stage Alzheimer's patients using retinal imaging, allowing to prevent and treat the patient earlier.
Vargas said: “We are working on making our solutions accessible to everyone and making retinal imaging fast and affordable. We will soon launch our game-changing portable non-mydriatic camera, which is not affected by external light or patient movement. It is automatic, doesn’t require extensive training, can even be done by the patient and costs a fraction of the market price.”
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When asked about the top priorities for Ainnova Tech in the coming year, he highlighted: “We are looking to expand into the primary care, optical and insurance markets with clinics. We are also looking forward to launching our new retinal device and integrating our solutions and massively scaling up.”
In conclusion, he said: “We are excited to attend Arab Health in Dubai in January and compete for the ‘Innovator of the Year’ award. We also hope to show the global audience our latest developments and connect with potential customers in the MENA region.”
This article appears in the latest issue of the Omnia Health Magazine, read more here.
