Aidence B.V.

Aidence B. V. develops advanced deep learning solutions for enhanced lung cancer detection, focusing on automating the analysis of CT scans to improve patient care in the medical sector. Founded in 2015, Aidence B.

V. is based in Amsterdam, Netherlands, and specializes in AI-powered solutions for lung cancer detection. The company was co-founded by Jeroen van Duffelen and Mark-Jan Harte, with Harte currently serving as CEO. Aidence secured a total of USD 50.

00 mn through a TRADE SALE in January 2022, acquiring funding from RadNet Management, Inc. , following its previous investments from Health Innovations, henQ, Inkef, Northzone, and Rabo Investments. With 3 total deals, Aidence has positioned itself strategically within the healthcare sector. Aidence specializes in advanced deep learning solutions aimed at enhancing lung cancer detection and care.

Their core product, Veye Lung Nodules, is a CE-certified application designed for the automated detection and quantification of lung nodules in chest CT scans. This solution is seamlessly integrated into existing radiology workflows, facilitating its use in routine clinical practice and lung cancer screening programs. Veye Reporting complements this by generating clear, customizable, and shareable reports that present the findings of Veye Lung Nodules. Aidence's products are primarily utilized within the United Kingdom's National Health Service (NHS) and extend to various medical institutions across Europe that engage in lung cancer screening and diagnostics.

The end users of these technologies include radiologists, oncologists, and healthcare providers involved in the screening and treatment of patients with lung cancer. Aidence generates revenue through a subscription-based model for its products and services, particularly focusing on B2B transactions with healthcare providers and institutions. Clients typically enter into agreements for the use of Veye Lung Nodules and Veye Reporting as part of their clinical workflows, facilitating a consistent revenue stream from ongoing subscriptions. These arrangements include tiered pricing based on the scale of deployment and the specific needs of the institution, ensuring access to the technology appropriate for their patient volume.

The company's offerings, which are critical for improving lung cancer care, are structured to support a long-term partnership with healthcare institutions, promoting ongoing engagement and integration of Aidence's AI-powered solutions into everyday medical practice. Following the acquisition by RadNet Management, Inc. on January 20, 2022, for USD 50. 00 mn, Aidence plans to leverage its resources for expanding its footprint in the medical technology market.

The strategic intent is to enhance the deployment of AI solutions to improve patient care. This will include the development of new products and features aimed at optimizing user experience and health outcomes. Additionally, there are plans to expand into new geographical markets, specifically targeting other European countries and potentially the U. S.

market by 2024. The recent funding will support these initiatives, allowing Aidence to innovate further and broaden its reach in lung cancer diagnostics.