Vista AI secures $30M in new funding, eyes expansion into remote MR imaging operations
Vista AI Inc.—a company that develops automated MRI software—announced Wednesday it has received nearly $30 million in new funding.
The artificial intelligence firm recently closed its Series B financing round, with most of the funds coming from new investors, including Cedars-Sinai, Intermountain Health, the University of Utah Hospital System, the Temple University/Fox Chase Cancer Center, and Tampa General. Khosla Ventures, Bold Brain Capital and others also contributed. Vista AI intends to use the money to expand its capabilities in automating MRI workflows.
The company currently has an FDA-cleared cardiac imaging platform but wants to further its reach into other anatomies, such as the brain, prostate and spine. Vista AI also will dedicate some of the funding toward bringing remote scanning capabilities to imaging providers.
"Radiology is facing a critical bottleneck: Demand for MRI far outstrips the supply of skilled technologists, overburdening staff and forcing delays for patients," CEO Daniel Hawkins said in an announcement. "Vista AI is breaking through that barrier by automating the scanning process, enabling technologists to consistently and efficiently deliver high-quality imaging, regardless of location."
Vista AI’s MRI automation software is already in use at numerous reputable health systems. Brigham and Women's Hospital, for instance, has been able to increase its cardiac MRI appointment slots by more than 50%, eliminating a 28-day backlog without increasing staffing or hours. The software also helps to reduce scan times, as was the case at Radiology Regional in southwest Florida, where cardiac MR imaging times were cut in half, according to Vista.
The demand for remote imaging is growing
Interest in remote operations has gained momentum in recent years, as many organizations are seeking to increase access to exams that previously have only been available at facilities with specialized staff and equipment. Many, including Vista's CEO, believe remote imaging also could help address ongoing staffing shortages in the field.
"With this financing, we are not just scaling a company, we are scaling access to gold-standard diagnostic capability," added Hawkins. "By combining our automated MRI scanning software with remote scanning services, we can help healthcare organizations reduce backlogs, ease staff burden, and deliver consistently high-quality imaging to more patients than ever before."
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In addition to her background in journalism, Hannah also has patient-facing experience in clinical settings, having spent more than 12 years working as a registered rad tech. She began covering the medical imaging industry for Innovate Healthcare in 2021.