Samsung Explores Investment in Medical Device Innovator Exo

Introduction

Samsung’s investment arm is reportedly eyeing a substantial investment in Exo, a California-based startup specializing in medical devices. This funding round could potentially reach $100 million, as detailed in a recent Bloomberg report.

Details of the Investment Round

The funding initiative is primarily being orchestrated by prominent firms including Sands Capital, Bold Capital, and Qubit Health Capital. Notably, Imar Ishrak, chairman of Qubit, is expected to join the board of Exo pending the successful closure of this investment.

About Exo

Founded in 2015, Exo has carved a niche in the healthcare sector by developing handheld medical imaging devices that integrate cutting-edge technologies. These devices leverage artificial intelligence, advanced medical imaging techniques, and specialized silicon technology to conduct ultrasound examinations. From scanning lungs to performing echocardiograms, the device connects seamlessly to smartphones, allowing medical professionals to conduct patient scans, document findings, and share reports through a singular application.

Funding History

Exo has secured more than $320 million in funding to date, attracting investment from an array of notable entities, including RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners. The company completed a significant Series C funding round in 2021, raising $220 million.

Potential Partnerships

In addition to the investment discussions, Exo is also exploring a partnership with Samsung Medison Co., a subsidiary of Samsung that focuses on developing medical equipment for ultrasound diagnostics and digital X-ray technologies. This collaboration could open new avenues for innovation and expansion in medical imaging solutions.

Conclusion

As Samsung ventures into the medical device industry through potential collaboration with Exo, the investment could signify an important shift toward advancing healthcare technology. Representatives from Exo, Samsung, Sands Capital, Bold Capital, and Qubit Health have yet to respond to requests for further comments on this developing situation.

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