by John R. Fischer
, Senior Reporter | August 06, 2021
Exo has raised $220 million in Series C funding toward the commercialization of its handheld ultrasound solution and point-of-care workflow software.
“Emergency medicine will become so much more precise, swift, patient-focused and outcome-oriented as physicians are educated and empowered by intuitive handheld ultrasound devices that are at the ready for everything from traumatic injury diagnosis to nerve-block procedures,” said Dr. Arun Nagdev, director of emergency ultrasound at Highland General Hospital and senior director of clinical education at Exo, in a statement.
Made of silicon technology, Exo is designed to assess the entire body, and is geared toward busy emergency departments, rural clinics, and across multiple departments in community hospitals.
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Exo Works software streamlines exam review, documentation and billing in one platform, in under 60 seconds. It is designed to work with almost all point-of-care ultrasound devices and can securely connect to the most common EMR and PACS systems used for imaging and communications in hospitals.
Exo will be used to image a wide range of body types, including obese and overweight patients that are difficult to scan with current handheld ultrasound technologies. In addition, patients can use a probe at home to perform ultrasound scans while guided over the telephone by an experienced provider.
“Exo’s hardware and software were designed in tandem, with the future of decentralized healthcare at the forefront of every decision,” said Exo CEO Sandeep Akkaraju. “Our vision is a healthcare system unconstrained by the four walls of a hospital and engineered for a world where providers can see clearly into every patient immediately.”
The Series C investment round was led by RA Capital Management and joined by BlackRock, Sands Capital, Avidity Partners and Pura Vida Investments. It follows a successful Series B funding round, and brings Exo’s total funding to more than $320 million.