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MARKETS & INVESTING | Staff Reporter, Hong Kong

Ping An leads $117.4m investment in AI software firm

The company markets AI imaging software in hospitals.

Ping An Global Voyager Fund, the fintech and healthtech investor arm of Ping An Insurance, is leading the $117.4m investment in artificial intelligence (AI) software company Riverain Technologies, an announcement revealed.

Riverain Technologies provides clinical AI software used to detect lung disease at its earliest stage, the release said. The company also markets AI imaging software in hospitals globally. The software reportedly improves a clinician's ability to accurately and efficiently detect cancer and other cell anomalies in thoracic CT and X-ray images.

The company's suite of patented ClearRead software tools are FDA-cleared, deployable in the clinic or in the cloud.

Duke University, Mayo Clinic, University of Chicago, University of Michigan, and Veterans Affairs hospitals are amongst the healthcare institutions that utilise Riverain’s products.

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