iPhone medical ultrasound device startup raises $250 million

The Butterfly Network, makers of the innovative iPhone ultrasound-on-chip named Butterfly iQ, announced that is has raised $250 million to start shipping this week to 40 million healthcare practitioners globally, according to a report published Sept. 26 by Business Insider.  

Investments for shipping the $2,000 device—which was unveiled last year at an American College of Emergency Physicians conference—came from Fidelity, Fosun Pharma and the Bill and Melinda Gates Foundation, according to the article.  

Butterfly Network was founded by Jonathan Rothberg, PhD, an adjunct professor of genetics at the Yale School of Medicine and founder and chairman of LAM Therapeutics.  

"We wanted to make it cheaper, easier to capture the image, easier to interpret the image so it can become available, not only to every healthcare provider in this country, but to address the issue that two-thirds of the world right now has no access to medical imaging," John Martin, MD, chief medical officer of Butterfly Network told Business Insider. 

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