TeraRecon acquired by SymphonyAI – the Signify view

TeraRecon acquired by SymphonyAI – the Signify view

March 11, 2020
Business Affairs Health IT

However, given its focus on AV and AI for image analysis, TeraRecon will also need to address how it can play more heavily in the diagnostic and clinical workflow sector to fit with established and emerging care pathways; here its peers perhaps have the edge, with GE Healthcare partnering with Roche for oncology solutions (Navify) and Philips already working on clinical decision support with its Intellisite Oncology offering.

The new patents described above will go some way to protecting the use of AI within the diagnostic reporting process, but this is only part of the broader decision support requirement, meaning TeraRecon will need to decide whether to more extensively partner or self-develop its own offerings. One of the agenda items for its new owners will be working with TeraRecon on its mid- to long-term strategy. Three questions should be front and center of this discussion:

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1. To drive focus on best of breed AI for image analysis and AV, or to broaden its focus on establishing a larger platform around complete diagnostic and clinical care pathways (potentially leveraging SymphonyAI’s other healthcare assets)?

2. How to address the rising tide of enterprise imaging implementations and customer preference for consolidated imaging informatics platforms from a single vendor?

3. How to make a financial success of AI (and which business model), given the vast majority of TeraRecon revenues today stem from traditional AV platform sales?

About the author: Simon Harris is the managing director for Signify Research, an independent supplier of market intelligence and consultancy to the global healthcare technology industry. Signify Research is headquartered in Cranfield, U.K.

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