Pittsburgh, PA – June 1st, 2017: TeraRecon (www.terarecon.com), a leader in advanced visualization and enterprise medical image viewing solutions, today announced the acquisition of machine learning company, McCoy Medical Technologies, (www.mccoymed.com), at the Society for Imaging Informatics in Medicine’s Annual Meeting (SIIM17) in Pittsburgh, PA.
Initially called WIA Corporation, a new company has been formed to provide simplified access to artificial intelligence (AI) algorithms with a focus on integrations that connect the work of individual end users, machine learning researchers, open source organizations and diagnostic imaging companies. The company’s products include a developer platform and a vendor neutral API interface for integration partners designed to streamline the distribution and hospital implementation of evidence-based practices and trained machine learning algorithms. The McCoy platform allows users anywhere to access cloud-based algorithms without requiring access to the algorithm code or training data to protect PHI and developer intellectual property.
As part of the transaction completed earlier this week, the new independent company retains the McCoy Medical advisory board, including three world-leading imaging informatics experts and serial entrepreneurs: Dr. Eliot Siegel, Dr. Paul Chang and Dr. Khan Siddiqui.
Dr. Siegel shared, “This decade has seen a proliferation of extremely impressive applications leveraging machine learning, especially for computer vision. Today, there is a real need for simpler, standards-based channels to socialize, access and apply these technologies. The TeraRecon and McCoy venture holds great potential to be among the first to develop and commercialize their offerings in the form of a truly open platform community. This kind of approach is exactly what is needed for the amazing innovations in AI to achieve widespread utilization.”
Jeff Sorenson, TeraRecon President and CEO, said “The new company’s platform is open to everyone, from individual physician-inventors, to research institutions, and the world’s largest PACS vendors alike. Together, this new company becomes a catalyst to join the various AI communities together.” He continued, “Our goal is to incubate and accelerate a new kind of AI platform that allows a proven algorithm to be productized in 20 minutes.”
Misha Herscu, McCoy CEO, commented, “This transaction results in a company with a unique combination of technology, healthcare-specific expertise and commercial reach. We look forward to meeting with potential collaborators and partners at SIIM17 and introducing these new possibilities.”
The acquisition is aligned with the main interests of the SIIM17 conference attendees. The keynote address, titled “Harnessing Artificial Intelligence, Medical Imaging’s Next Frontier”, focuses on the potential impact of artificial intelligence on the medical imaging industry and the many uses of AI in healthcare.
Visit WIA Corporation and TeraRecon June 1st-3rd during SIIM17 in Pittsburgh, Pennsylvania at Booth #603, as well as at the Society of Vascular Surgery’s 2017 Annual Meeting in San Diego, California at Booth #510.