Samsung Eyes $100M Investment in Exo to Revolutionize Medical Imaging with AI

Samsung’s venture investment unit is reportedly poised to join a $100 million funding round for Exo, a California-based medical device startup specializing in AI-powered ultrasound technology, according to Bloomberg.

The round, led by Sands Capital, Bold Capital, and Qubit Health Capital, could see Qubit’s chairman, Omar Ishrak, joining Exo’s board.

Founded in 2015, Exo develops handheld medical imaging devices that integrate artificial intelligence, medical imaging, and silicon technology, enabling ultrasound exams like lung scans and echocardiograms.

These devices connect to smartphones, allowing medical professionals to scan, document, and share reports seamlessly via a single app, enhancing accessibility and efficiency in diagnostics.

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Exo’s Growth and Potential Partnership

Exo has already secured over $320 million in funding from prominent investors such as RA Capital Management, BlackRock, Intel, Sony, and Avidity Partners, with its most recent $220 million Series C round in 2021. The company is also in discussions to partner with Samsung Medison Co., a Samsung affiliate focused on ultrasound diagnostics and digital X-ray systems.

This potential collaboration could leverage Samsung Medison’s global reach to scale Exo’s innovative technology. Real-time insights from financial discussions suggest that this partnership could accelerate the adoption of AI-driven imaging solutions, particularly in underserved regions, aligning with Samsung’s recent acquisition of French AI ultrasound startup Sonio for $92.7 million in 2024.

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Transforming Medical Diagnostics

Exo’s technology addresses critical gaps in medical imaging by offering portable, affordable, and high-quality solutions. The global AI in ultrasound imaging market is projected to reach $2,261.8 million by 2033, up from $964.2 million in 2023, driven by innovations like Exo’s.

Samsung’s involvement could further this growth, building on its history of integrating AI into medical devices, such as the V6 and V8 ultrasound systems launched in 2023.

However, the deal’s finalization remains uncertain, as Samsung, Exo, Sands Capital, Bold Capital, and Qubit Health have not yet responded to inquiries, leaving room for speculation about the investment’s impact on the healthcare sector.

What’s Next for Healthcare Innovation?

The potential investment and partnership highlight Samsung’s growing focus on healthcare innovation, particularly in AI-driven diagnostics.

As Exo aims to make medical imaging more accessible, this collaboration could set a new standard for point-of-care diagnostics globally.

Industry sentiment reflects optimism, with experts noting that such advancements could reduce diagnostic times and improve patient outcomes, especially in emergency and rural settings where access to advanced imaging is limited.