Claritas HealthTech, a healthcare software company, on Monday announced that it will acquire online clinical systems service provider Integrated Health Ventures (IHV) in Singapore and its associated company in India.
The company did not disclose details of the deal. IHV provides teleradiology platforms with low bandwidth, optimized, and secure clinical systems for hospitals and radiology centers.
The deal includes IHV’s Comprehensive Medical Information Exchange (CMIE) platform, which is used for diagnostic radiology and nuclear medicine. The platform comes with a patented “lossless image compression algorithm” that allows for advanced encryption, as well as a data optimizer, among other features.
“We have seen consistent growth with a clearly expanding industry in teleradiology. With this strategic merger, we have the opportunity to add the advanced image enhancement, deep learning, and diagnostic AI capabilities to add value to our clients,” said Anand Thyagarajan, founder and CEO of IHV.
Claritas has also been working on a complimentary platform with a booking solution for physicians to send imaging requests to radiology centers and gain access to images and reports using a web and mobile-friendly viewer.
The Singapore-based software company conducts research and development in the fields of image enhancement, machine vision, and artificial intelligence with a focus on medical image processing and AI-assisted interpretation.
The healthtech industry in Asia has shown strong growth momentum since 2019, where the total funding closed at USD 5 billion across 340 deals, according to research by Galen Growth. Fueled by the coronavirus pandemic, the market is now poised to grow to over USD 2.6 trillion in 2020.
This article was originally published by Tech in Asia.