The healthtech firm says the combined technologies will help hospitals keep patients connected and reduce time to discharge.
Medical technology company FluidAI Medical acquires Emmetros Limited to provide care to patients outside the hospital. Emmetros develops SparxConnect engagement platform to help healthcare providers tailor patient care
“This acquisition supports FluidAI’s mission to redefine the standard of surgical care to improve patient outcomes during recovery.”
The Kitchener-Waterloo-based firm said in a press release today that it will use Emmetros' know-how to modernize Stream Inara, an artificial intelligence-based platform that trains, monitors and supports surgical patients. This technology is designed to get patients home faster while keeping them safe and connected to doctors.
FluidAI views this acquisition as a key piece of its overall strategy.
“This acquisition supports FluidAI's mission to redefine the standard of surgical care to improve patient outcomes during recovery and safer early discharge after general and gastrointestinal surgery,” CEO Youssef Helwa said in a statement.
FluidAI did not disclose terms of the deal, including how Emmetros will change. BetaKit asked the company to comment on the situation. In her own statement, Emmetros CEO Mary Pat Hinton said FluidAI shares a “deep commitment” to improving patient care and that it has assistive technology.
“[FluidAI’s] The real-time, continuous monitoring experience truly is the perfect complement to our customizable and extensible patient engagement and collaboration platform,” said Hinton.
FluidAI (known as NERv Technology until 2022) was founded in 2014 and began as a fourth-year project at the University of Waterloo developed by Helwa and Amr Abdelgawad. Apart from Stream Inara, it offers two products. Origin, a post-operative monitoring device, recently received approval from the US Food and Drug Administration (FDA) for sale in the country, giving FluidAI broad access to the mainstream market. Stream Care is an AI-powered package that identifies surgical patients at risk for complications, and Stream CMx is a clinical documentation design and production tool.
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Emmetros was also founded in 2014 and is based in the Kitchener-Waterloo region.
FluidAI describes acquisitions as a “core part” of its strategy to strengthen and expand its influence. However, this is only the company's second acquisition since it bought the intellectual property of former US rival Medsix in 2022. Series A for $15 million funding round in 2023 led by Graphene Ventures and SOSV. In July of this year, the Federal Economic Development Agency of Southern Ontario (FedDev Ontario) invested $2 million in FluidAI as part of a broader strategy to support businesses in the Waterloo region.
Image provided Unsplash. Photo by Vitaly Gariev.
