BioSig Technologies Inc. (NASDAQ: BSGM) has achieved another milestone with the completion of a successful seed funding round raising $2.2 million for its subsidiary, BioSig AI Sciences, Inc. (BAIS).
BAIS seeks to combine BioSig’s leading-edge technology with outside partners and experts to further develop its groundbreaking artificial intelligence-based medical device platform. With this new injection of capital, BioSig is poised to revolutionize the healthcare industry with its next generation of AI-fueled medical devices.
BioSig Technologies is on the cutting-edge of integrating artificial intelligence and machine learning into electrophysiology devices, which is set to drive tremendous growth for the market. Chairman, CEO, and Founder Ken Londoner explained, “We are committed to being a pioneer in this space and have already developed exciting prototypes for early adopters to experience.” As he noted, there is already widespread intrigue about their platform and the possibilities it presents.
In 2019, BioSig and Reified Labs embarked on an exciting journey of collaboration, through which they made progress in the field of Artificial Intelligence (AI). As a result, multiple patent applications and a research publication on AI-enhanced electrocardiogram lead placement mapping have been developed.
In continuing their mission, the newly named BAIS is looking into the usage of large language models, such as Chat-GPT, to help hospital partners tackle the various challenges they face.
The artificial intelligence in healthcare sector is expected to experience substantial growth over the next decade, with forecasts suggesting a market size of $272.9 billion by 2030, a massive 51.9% compounded annual growth rate from its current estimated value of $9.6 billion. With such accelerated expansion, AI implementation within healthcare promises to revolutionize patient care delivery in the near future.
About BAIS
BAIS, a majority-owned Delaware C Corporation subsidiary of BioSig, is unveiling AI solutions designed specifically for the hospital space. Through cutting-edge research, BAIS is leveraging a variety of data sources, including structured, semi-structured, and unstructured data to revolutionize the medical landscape and create revolutionary advances in healthcare.
About BioSig Technologies
BioSig Technologies is revolutionizing the treatment of cardiovascular arrhythmias with advanced medical technology. Partnering with leading physicians, experts, and healthcare leaders in electrophysiology (EP), we are focused on helping reach healthcare’s top goals—minimizing time, costs and most importantly, saving lives. Join us in bringing never-before-seen insights into the field of medicine.
The PURE EP™ Platform, Puros Medical’s groundbreaking FDA 510(k) cleared medical device, is revolutionizing cardiac ablation procedures. By providing unparalleled real-time visualization of electrical signals in the heart, the PURE EP™ Platform enables physicians to perform more accurate and efficient procedures. With this revolutionary technology, healthcare professionals can treat cardiac abnormalities with unprecedented insight and precision.
The global EP market is expected to skyrocket to $16B by 2028 with a phenomenal 11.2% growth rate! This tremendous growth will provide countless opportunities for businesses and investors alike.