- German digital health firm Ada Health has raised a $90 million funding round at an undisclosed valuation bringing total investment in the company up to around $150 million.
- The company has received backing from Bayer AG’s BAYRY Leaps by Bayer investment arm, while Samsung Electronics SSNGY invested through the Samsung Catalyst Fund.
- Samsung Electronics’ former chief strategy officer and corporate president, Young Sohn, has joined Ada Health’s board.
- Ada Health has developed a doctor-in-your-pocket-style app that uses artificial intelligence to diagnose symptoms.
- Founded in 2011, Ada Health’s app has been downloaded over 11 million times.
- “The app basically works like a WhatsApp chat with your trusted family doctor, but 24/7” Nathrath, CEO of Ada Health, told CNBC.
- The patient starts by entering their symptoms, and an AI chatbot will ask a series of questions to determine the issue.
- After that, the app will present the patient with the conditions that are most likely to be the cause and offer some suggestions.
- The iOS and Android apps give generic advice, such as seeing a general practitioner in the next three days.
- But when patients interact with Ada Health through a health system that uses the app, they can go straight into booking an appointment and sharing the outcome of their pre-assessment with a real doctor, Nathrath said.
- Many companies such as Axa OneHealth, Novartis AG NVS, Pfizer Inc PFE, and SutterHealth are all listed as partners on Ada Health’s website.
- While the app is free for patients to download, Ada Health charges partners for access to its software.
- Last week, Alphabet Inc GOOG announced a web tool that uses artificial intelligence to help people identify skin, hair, or nail conditions.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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