NEW YORK – ConcertAI said on Tuesday that it is merging with TeraRecon to create a "unified AI software-as-a-service company" that can help life sciences organizations improve precision oncology research and patient outcomes.
The joining of the two companies, both subsidiaries of SymphonyAI, will improve life sciences organizations' ability to visualize and interpret imaging data alongside genomic and clinical information.
TeraRecon, headquartered in Durham, North Carolina, provides technologies that allow life sciences institutions to develop, visualize, and improve the interoperability of medical imaging AI within electronic medical records and existing workflows. The company serves 1,300 clinical sites globally and provides decision support solutions for radiology, oncology, cardiology, neurology, and vascular surgery.
ConcertAI, which provides AI technology solutions and real-world evidence — including genomic and clinical — to drugmakers and health institutions, will integrate TeraRecon's technologies into its Digital Clinical Trials Network. The Boston-based company recently announced a partnership with Janssen Research & Development, for example, within which the drugmaker is using ConcertAI's real-world data and machine-learning algorithms to launch trials in underserved communities.
"TeraRecon solutions are independent of any one manufacturer's imaging equipment or [picture archiving and communication] system, allowing a single, unified, and simplified clinical workflow that can improve efficiencies and deliver actionable physician insights," ConcertAI CEO Jeff Elton said in a statement. "In the future, the combination with ConcertAI could bring a single, advanced AI-augmented diagnosis and interpretation capability from biomedical innovation through care coordination."
The first studies within ConcertAI's Digital Clinical Trials Network that utilize images acquired and analyzed through TeraRecon technologies and integrate electronic medical data, are already underway.
TeraRecon was acquired last year by SymphonyAI, which is also the parent company ConcertAI. The combined companies have clinical, engineering, and commercial locations in Cambridge, Massachusetts; Plymouth Meeting, Pennsylvania; Durham, North Carolina; Frankfurt, Germany; Tokyo, Japan; and Bangalore, India. The companies didn't disclose the financial terms of their merger.