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- Swift Medical has an app that uses AI and 3D imaging to remotely manage wound care.
- The app was primarily designed for nurses and clinicians caring for chronic-wound patients.
- See the presentation that the cofounder and CEO Carlo Perez used to raise $35 million.
- See more stories on Insider's business page.
If telemedicine is going to stick around, Carlo Perez says a new generation of companies will have to usher in what he calls 2.0.
Instead of webcams and FaceTime, Perez said, the future of telemedicine uses new technology to provide imaging just as good as, if not better than, that found in top hospitals and clinics around the country.
Six years ago, he started building Swift Medical based on that theory. On Thursday, after the pandemic-induced telemedicine boom, Swift Medical raised $35 million in Series B funding. The round was led by Virgo Investment Group and included participation from an existing investor Data Collective. Perez declined to disclose the company's valuation.
Swift Medical is part of the generation of companies just starting to hit their strides now that the pandemic has forced clinics and hospitals to rapidly adopt telehealth services during local and nationwide closures.
The company makes an app that is primarily designed for nurses or clinicians caring for patients with chronic wounds, such as those in diabetic patients. It uses 3D image modeling and artificial intelligence to remotely reconstruct the wound digitally for caregivers, including measurements like width and depth that are hard to standardize in traditional care practices. The goal, Perez said, is to provide research-grade imaging technology in different care settings now that many chronic patients are opting to receive care at home and caregivers are more comfortable with remote monitoring technology.
Perez said he and his cofounders, one of whom is a former aerospace engineer who helped develop vision technology for Mars rovers, developed the technology before deciding to use it to treat chronic-wound patients. With the additional funding, Perez said Swift Medical could expand its offerings to include other areas of care in which imaging is critical but similarly lacks a standard practice across clinics in the US.
Without high-quality imaging, home-based care will struggle to become mainstream, Perez said.
"Our goal is to offer research-grade imaging at the bedside, and there are lots of things to image," Perez said.
Here is the presentation Perez used to raise $35 million in Series B funding for Swift Medical:
Swift Medical makes an app for clinicians and patients to better measure chronic wounds remotely.
The app uses 3D imaging technology developed by Perez and his cofounder Justin Allport, a former aerospace engineer.
The app is able to measure wound width and depth as the user waves a smartphone camera around the wound. Perez said he was shocked to learn that wounds were previously measured imperfectly using sticks and rulers.
Chronic wounds are common in patients experiencing diabetes and other conditions. These patients are often in assisted-living facilities or are home bound, requiring extra care from nurses or other caregivers.
Before the pandemic, Swift Medical mainly concentrated on treating patients in assisted living or nursing facilities. Now, though, it has added changes to the app to better treat patients at home who might not have regular access to nursing staff.
Perez said he predicts that as home-based care becomes more common, more patients and clinicians will look for comprehensive solutions like Swift that can create treatment plans.