From Seoul to Save the Day: The Minds Behind AIRS Medical

Every game-changing company has a powerful origin story—and AIRS Medical is no different. Their journey began in 2018 at Seoul National University, South Korea, where they combined their medical and technical expertise to tackle the inefficiencies of traditional healthcare. CEO Hyeseong Lee, M.D., currently the CEO and Jingu Lee, Chair of the Board, united their expertise in medicine and engineering to form the foundation of AIRS Medical. (Hyeseong Lee, M.D)

With a background in medicine from Seoul National University, Hyeseong Lee brings his clinical expertise to the table. Jingu Lee, has a strong academic foundation, holding a degree from Seoul National University’s College of Engineering. His work spans both electrical engineering and medical imaging. He was recognized for his leadership when he received the prestigious Next Generation Engineering Leader Award by the National Academy of Engineering of Korea​. (Jingu Lee) (Seoul National University)

The idea behind AIRS Medical was simple but ambitious—shift healthcare from treating illnesses to preventing them. Both founders believed that traditional healthcare was too reactive. They saw the potential for AI and robotics to make early detection possible, helping people take control of their well-being before problems arose. 

One of the early breakthroughs came in medical imaging. AIRS Medical’s AI algorithms won the prestigious Facebook and NYU Langone Health fastMRI Challenges.Today, this technology is used in over 15 countries, with more than 140 million scans performed. It has made MRI scans faster and more affordable, enabling early disease detection and personalized healthcare.

The Rise of Machines : AI in Healthcare Market

Artificial intelligence (AI) is reshaping the healthcare landscape, and it’s growing faster than ever. By 2024, the AI in healthcare market is expected to be worth $20.9 billion, and it’s projected to skyrocket to $148.4 billion by 2029. This translates to an impressive 48.1% compound annual growth rate (CAGR)​. With this rapid expansion, AI is becoming an essential tool in diagnostics, drug discovery, and personalized treatment, dramatically improving patient care. (MarketsandMarkets)

The rise of AI in healthcare is being driven by its ability to handle large and complex data sets. Medical imaging, especially, has seen a massive AI transformation. From X-rays to MRIs, AI is enhancing diagnostic accuracy while cutting down on time-consuming manual analysis. This kind of technology is already being applied in robot-assisted surgeries, which are growing rapidly due to improved precision and reduced recovery times. ​(Grand View Research)​

Another major driver of AI adoption in healthcare is the need for cost reduction. As healthcare costs rise globally, AI is helping to streamline hospital operations, predict patient admissions, and even reduce administrative burdens by automating documentation through natural language processing (NLP)​. These advancements are allowing hospitals to optimize resources while improving patient outcomes.

AI’s impact extends far beyond just diagnostics and hospitals. Pharmaceutical companies are using AI to cut down the time it takes to develop new drugs—from 5–6 years to as little as 1 year in some cases​. This is crucial in combating diseases quickly and more efficiently.

AIRS Medical: Breathing New Life Into Medical Imaging

Mission: AIRS Medical’s mission is to democratize access to high-quality diagnostics. They aim to move healthcare from a reactive approach (treating diseases after they develop) to a proactive model. (About AIRS Medical)

Vision: The company’s vision is to replace traditional analog medical tools with data-driven solutions. They believe in leveraging technology to improve global healthcare outcomes, making early diagnosis more efficient and accessible.

Problems They Solve: Long MRI scan times and high costs have always been a burden on healthcare systems. AIRS Medical addresses this by drastically reducing scan times, helping hospitals increase patient throughput by 38% and reducing operating hours by 22%. This efficiency also helps reduce delayed diagnoses, which often lead to poor outcomes for patients with conditions like dementia, stroke, and cancer​.

Business Model: AIRS Medical operates through a subscription-based or pay-per-use model for SwiftMR™, allowing hospitals and diagnostic centers to integrate their software without major upfront costs​. This model has allowed them to expand into 15 countries, with SwiftMR™ now accounting for over half of their annual recurring revenue​.

Swift and Sure: AIRS Medical’s Power-Packed Portfolio

AIRS Medical’s flagship product, SwiftMR™, is at the heart of their innovative offerings. This AI-powered solution revolutionizes magnetic resonance imaging (MRI) by reducing scan times and enhancing image quality. The main goal of SwiftMR™ is to make MRIs faster, more affordable, and accessible to more patients, all while improving diagnostic accuracy. (SwiftMR)

SwiftMR™: Faster MRI Scans, Better Patient Care

SwiftMR™ leverages advanced deep learning technology to reconstruct MRI images with superior clarity. This reduces scan times by up to 50% without requiring new hardware, making it compatible with both older and newer MRI machines. Radiology centers worldwide report increases in patient throughput, with some facilities boosting their scan volume by 40%​ (AIRS Medical).

SwiftMR™ is designed to seamlessly integrate into existing workflows, enhancing productivity without any disruptions. Whether it’s reducing scan times for full-body scans or improving image resolution for specific body parts like the spine and brain, SwiftMR™ delivers consistently high-quality results.

Enhancing Efficiency with AI

One of the standout features of SwiftMR™ is its ability to enhance MRI images on older machines, significantly extending their lifespan and reducing electronic waste. This sustainability factor is crucial for hospitals looking to avoid costly upgrades. Additionally, SwiftMR™ supports cloud-based and on-premise installations, providing flexibility for healthcare institutions​.

SwiftMR™ is used in over 300 radiology practices globally, including in the U.S., South Korea, and Europe. AIRS Medical’s partnerships with major imaging centers continue to grow, helping more institutions harness the power of AI to improve patient care and increase revenue.

Deep Learning, Deep Impact: The Tech Powering SwiftMR

AIRS Medical’s AI-powered software enhances the speed and quality of MRI scans by up to 50% without compromising image clarity. But how does it work?

Deep Learning at its Core

At the heart of AIRS Medical’s technology is a deep learning engine that reconstructs low-quality MRI images into high-resolution scans. This technology, trained on a vast dataset of high-quality medical images, applies advanced algorithms to refine and optimize each scan. By reducing noise and enhancing image detail, SwiftMR™ delivers high-quality results even from older MRI machines.

AIRS Medical’s innovation lies in its all-in-one deep learning framework. Unlike traditional methods, this approach integrates multiple essential functions into a single model. It improves image quality across different anatomical regions, contrast weightings, and scan parameters, making it a versatile tool for any MRI machine.

The software directly integrates with the institution’s PACS (Picture Archiving and Communication System), allowing for quick installation and immediate impact on workflow efficiency.

Turning Heads (and Scans) : Winning Over Markets and Medals

AIRS Medical has made significant waves in the healthcare industry, especially in the field of diagnostic imaging. Their flagship product, SwiftMR™, has expanded globally, with installations in over 300 institutions across 14+ countries, processing over 1 million MRI scans​ (AIRS Medical). This AI-powered MRI solution reduces scan times by up to 50%, increasing efficiency and generating more revenue for healthcare providers​ (Reduced Time).

The market impact of AIRS Medical is evident in the growing adoption of SwiftMR™ by hospitals and imaging centers worldwide. With its deep learning algorithms, SwiftMR™ has transformed how radiologists work, boosting patient throughput by 38% and cutting operational costs​. It also addresses one of the biggest bottlenecks in healthcare: long wait times for MRIs. By reducing scan times, hospitals can serve more patients without sacrificing quality​.

In terms of awards, AIRS Medical’s innovation has not gone unnoticed. In 2023, they received the Frost & Sullivan North American Technology Innovation Leadership Award, recognizing SwiftMR™ as a groundbreaking technology in AI-driven MRI reconstruction​ (AIRS Medical). 

The company also secured multiple certifications, including FDA 510(k) clearance and CE MDR certification, which allowed SwiftMR™ to expand into the U.S. and European markets​. These accolades underscore AIRS Medical’s leadership in healthcare AI, making it a trusted name in radiology. (FDA Clearance) (CE MDR certification)

Collaborations That Count : Teaming Up to Turbocharge Diagnostics

AIRS Medical has built strong partnerships to scale its AI-powered MRI solutions globally, leveraging key collaborations to expand its market presence. One of its most significant partnerships is with Strategic Radiology (SR), a coalition of 37 independent radiology practices in the U.S. This collaboration allows over 1,700 radiologists within SR access to SwiftMR™, enhancing MRI efficiency and reducing scan times. Together, they aim to generate real-world evidence on the impact of AI in routine clinical settings​ (Strategic Radiology (SR)).

In Europe, AIRS Medical has entered partnerships with imaging centers like Med AI Solutions GmbH and Medserena in Germany. These partnerships have brought SwiftMR™ to multiple clinics, including Radiologisch-Nuklearmedizinisches Zentrum (RNZ) and Medserena’s multi-chain centers. (AIRS Medical)

Additionally, AIRS Medical partnered with MXR Imaging, the largest independent medical imaging distributor in the U.S., further extending SwiftMR™’s reach to new markets​ (MXR Imaging Partnership).

Finance Talks : Raising the Bar and the Funds

AIRS Medical has made significant strides in securing funding to advance its AI-driven healthcare solutions. Since its founding in 2018 in Seoul, the company has raised a total of $44.5 million across three funding rounds. Their most recent round, a Series C held on July 10, 2024, secured $20 million from key institutional investors, including BSK Investment, Shinyoung Securities, and Hana Ventures. (Tracxn)

Prior to this, in August 2022, AIRS Medical raised another $20 million in a Series B round, led by Q Capital Partners and corporate investor Hanwha Life, with additional backing from Klim Ventures. The Series B funding was essential for scaling SwiftMR™’s rollout and optimizing the product for broader healthcare applications.

The company’s earlier Series A round in November 2020 brought in $4.5 million, led by Klim Ventures, which helped in laying the groundwork for the SwiftMR™ platform.

Fast Forward: What AIRS Medical’s Future Looks Like

AIRS Medical is revolutionizing healthcare by making MRI scans faster, more affordable, and accessible to all. Through SwiftMR™, their flagship AI-powered software, they reduce MRI scan times by up to 50% while improving image quality. By working with hospitals worldwide, they’re not just improving efficiency; they’re also reducing patient wait times and healthcare costs​.

If AIRS Medical’s journey shows anything, it’s that innovation can happen anywhere. Their rise from a South Korean startup to a global leader in AI healthcare is proof that great ideas can change the world. So, if you’re working on your own groundbreaking idea, keep pushing. Who knows? Your next move could disrupt an entire industry.

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