The point-of-care ultrasound market is growing fast into a multibillion market. Ardim has the capability, ambition, strategy and partnerships to play a substantial role in this market.The solutions of Ardim combine three major benefits to be able to enter this market; 1. Instant diagnosis at the point-of-care, 2. No need for extensive ultrasound training 3. Major cost and time reduction.
The launching product of Ardim enables youth health physicians to perform an ultrasound examination at the child health center to detect developmental hip dysplasia. Developmental hip dysplasia occurs in 3% of all newborns which make it the most common congenital defect in newborns. Each year, 22,000 newborns are unnecessarily referred to the hospital in the Netherlands alone. The smartphone application of Ardim has integrated AI algorithms that guide the user during acquisition, eliminating the need for an extensive ultrasound training. Once the acquisition is completed, the algorithm instantly performs automated analysis and reports the diagnosis which can be used to dramatically improve current triage. The products of Ardim will be certified and comply to all requirements to guaranty their safety and effectiveness. There is one competitor in the world that has an FDA approved AI solution for detection of hip dysplasia, but this is based on an expensive 3D ultrasound device.
The solution of Ardim uses a low-cost hand-held device, which is not only more portable but also much less expensive and is therefore much more suited for point-of-care use. Ardim will sell the devices on a pay-per-use base to child health centers and hospitals. In the next phase, Ardim will licence its certified AI algorithms to the leading hand-held ultrasound vendors to enable fast world-wide market access.
Ardim has a strategic partnership with the Radboudumc, Thirona and Telemed. Dr. ir. Thomas van den Heuvel, CEO and founder of Ardim worked for six years at the Radboudumc on the combination of AI and point-of-care ultrasound. Ardim is looking for a co-investment of €250K to reach the required €500K. With this money, Ardim will bring its first certified product to the market in the Netherlands. In the future, a series-A investment will be required to scale-up in two ways. One: create market access in Europe and North-America. Two: get the second AI solution to the market for GPs.