• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

  • Opinion
  • Health IT
    • Behavioral Health
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • AI
    • Blockchain
    • Precision Medicine
    • Telehealth
    • Wearables
  • Life Sciences
  • Investments
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage

Ferrum Health Secures $16M for Vendor-Neutral AI Platform

by Fred Pennic 09/20/2024 Leave a Comment

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

What You Should Know: 

– Ferrum Health, a pioneering software provider enabling AI deployment in healthcare systems, raises $16M in Series A funding led by Foundry, with participation from Catalyst by Wellstar, Headwaters Ventures, UnitedHealthcare Accelerator, and existing investors including Blumberg Capital, Cercano, GSR, Urban Innovation Fund, and Singtel Innov8. This brings Ferrum Health’s total funding to $31M.

– This Series A funding will fuel Ferrum Health’s expansion and innovation. The company plans to enhance its platform further, broaden its AI algorithm library, and extend its reach to more healthcare organizations.

Vendor-Neutral AI Platform for Improved Patient Outcomes

Ferrum Health’s unique platform allows clinicians to validate and deploy AI algorithms within their existing workflows, all while keeping protected health information (PHI) secure within the health system’s firewall. The platform’s growing library of AI algorithms covers a wide range of specialties, including oncology, women’s and men’s health, cardiovascular, neurology, and orthopedics.

Improved Care. Increased Value.

Ferrum Health’s AI platform has already demonstrated a significant impact. An early partner achieved a remarkable 77% higher rate of early lung cancer detection and improved five-year cancer survival rates. Moreover, the platform drives operational efficiency, enabling health systems to reduce internal IT staffing and compute costs by 75% and accelerate AI implementation timelines from an average of six weeks to less than a day.

Healthcare Provider Adoption

Over 250 sites, including Sutter Health, Carle Clinic, Premier, Asheville Radiology Associates, Radiology Associates of Albuquerque, and Mercy Radiology, rely on Ferrum Health’s solutions. This widespread adoption has resulted in an 86% increase in revenue for Ferrum Health over the past six months. These health systems utilize Ferrum’s advanced algorithms to analyze massive amounts of medical data, empowering doctors with critical insights and recommendations for enhanced patient care.

Democratizing Access to Clinical AI

Ferrum Health’s enterprise AI deployment platform aims to improve patient outcomes by democratizing access to cutting-edge clinical AI technologies. The solution provides end-to-end AI Hubs capable of running numerous applications across various service lines, seamlessly integrating clinical imaging and administrative data. As of 2024, over 2,500,000 unique patient records have been analyzed through the Ferrum Enterprise AI Platform.

“The healthcare industry is eager to harness the potential of AI, but adoption remains limited due to security, safety, and scalability challenges,” said Pelu Tran, CEO of Ferrum Health. “Ferrum solves this problem by providing a secure platform that allows health systems to deploy AI without compromising data privacy or innovation. Our new funding will allow us to double down on product development and partner expansion, so healthcare professionals can leverage the power of AI to make more informed decisions and improve patient outcomes.”

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Tagged With: Artificial Intelligence

Tap Native

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

Reader Interactions

Primary Sidebar

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Featured Interview

Reach7 Diabetes Studios Founder Chun Yong on Reimagining Chronic Care with a Concierge Medical Model

Most-Read

Epic Launches Comet: A New AI Platform to Predict Patient Health Journeys

Epic Launches Comet: A New AI Platform to Predict Patient Health Journeys

Preparing for the ‘Big Beautiful Bill’: How Digitization Can Streamline Medicaid Eligibility & Social Care Delivery

Preparing for the ‘Big Beautiful Bill’: How Digitization Can Streamline Medicaid Eligibility & Social Care Delivery

Evernorth Health Services Invests $3.5B in Shields Health Solutions

Evernorth Health Services Invests $3.5B in Shields Health Solutions

KLAS Report: Oracle Health Faces Customer Losses and Declining Satisfaction

KLAS Report: Oracle Health Faces Customer Losses and Declining Satisfaction

Tempus AI Acquires Digital Pathology Leader Paige for $81.25M

M&A:Tempus AI Acquires Digital Pathology Leader Paige for $81.25M

Mira Launches Ultra4™, the First At-Home Hormone Monitor with Lab-Quality Insights

Femtech: Mira Launches Ultra4™, the First At-Home Hormone Monitor with Lab-Quality Insights

How Healthcare CIOs Can Solve the Unstructured Data Crisis and Reduce Storage Costs

How Healthcare CIOs Can Solve the Unstructured Data Crisis and Reduce Storage Costs

Healthcare C-Suite Acknowledges AI Potential but Lacks Trust

Sage Growth Partners Report: Healthcare C-Suite Acknowledges AI Potential but Lacks Trust

EVERSANA and Waltz Health Merge to Redefine Pharmaceutical Commercialization

EVERSANA and Waltz Health Merge to Redefine Pharmaceutical Commercialization

Advancing Diabetes Care: Combating Burnout and Harnessing Technology

Advancing Diabetes Care: Combating Burnout and Harnessing Technology

Secondary Sidebar

Footer

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2025. HIT Consultant Media. All Rights Reserved. Privacy Policy |