SymphonyAI Group (Los Altos, CA, USA), an operating group of leading business-to-business artificial intelligence (AI) companies, has acquired TeraRecon (Durham, NC, USA), an advanced visualization and AI solution provider for medical imaging.
SymphonyAI Group focuses on delivering next-generation AI solutions for transforming the enterprise. SymphonyAI Group addresses use cases in healthcare and life sciences, retail and CPG, industrial manufacturing, energy, oil & gas, media and entertainment, defense, and financial services. TeraRecon offers medical advanced visualization and AI solutions and has developed sophisticated healthcare-focused AI platform solutions. Used by over 900 health systems globally, TeraRecon’s solutions provide radiologists and other highly specialized physicians with the software tools they need to quickly visualize and extract critical clinical data from medical images.
As SymphonyAI Group’s seventh portfolio company, TeraRecon has a charter to establish a new portfolio of healthcare AI solutions focused on medical imaging. Using its newly-patented AI and platform technology, TeraRecon will continue to focus on expanding its open platform for advanced visualization and AI-driven solutions. TeraRecon will accelerate the use of AI in other clinical specialties, including neurology and oncology, in addition to its market-leading solutions in radiology, cardiology, and vascular surgery.
SymphonyAI Group will invest in infrastructure and key initiatives to rapidly produce new advancements and offerings through TeraRecon’s industry-leading engineering and product teams. TeraRecon will operate as an independent portfolio company in the SymphonyAI Group. Synergies with TeraRecon technologies will complement the precision oncology offerings of portfolio company Concerto HealthAI.
“In just a few years, our company has not only transformed the realm of advanced visualization with artificial intelligence but also our entire industry,” said Jeff Sorenson, president and CEO of TeraRecon. “Now with the backing of SymphonyAI Group and the recent recognition of two powerful patents, TeraRecon can think bigger and work faster than ever before. Having been chosen for such an impressive and selective portfolio is truly an honor, and an ideal outcome for our employees, customers, and stockholders.”
“The SymphonyAI Group mission is to use AI to transform the enterprise. We accelerate high-value AI solutions to market to meet the needs of specific vertical industry use cases,” said Dr. Romesh Wadhwani, founder and CEO of SymphonyAI Group. “TeraRecon has demonstrated the value AI can play in the medical imaging market. We believe that TeraRecon AI technology can continue to deliver unprecedented benefits to doctors and patients and expand into new areas of the healthcare enterprise.”
“Artificial intelligence in medical imaging is expected to deliver several breakthroughs spanning a wide range of clinical areas and modalities,” said Vibhor Rastogi, investment partner at SymphonyAI Group. “With the acquisition of TeraRecon, SymphonyAI Group is bolstering its portfolio of AI-enabled enterprise solutions for the healthcare and life sciences industries. We are committed to leveraging AI to deliver breakthrough therapies and care delivery models.”