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Press Release

RapidAI Breaks New Ground

The company experienced record-shattering 2020 milestones as well as an expansion of its scope into the larger vascular market

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The company experienced record-shattering 2020 milestones as well as an expansion of its scope into the larger vascular market

San Mateo, Calif. — February 24, 2021 — RapidAI, the leader in advanced cerebrovascular imaging, today announced record-shattering 2020 milestones for the company and industry, as well as an expansion of its scope into the larger vascular market. As RapidAI momentum built around the world, in addition to new products, partnerships, and awards, 2020 saw the company expand from stroke to aneurysm and lay the groundwork for other vascular diseases, both acute and non-acute. The RapidAI footprint grew to over 60 countries, with its technology utilized in over 1,800 hospitals. RapidAI offers the most-widely used advanced cerebrovascular imaging products for patient care, research, and clinical trials across the globe. RapidAI clinical products help save lives. In 2020, RapidAI workflow and messaging technologies helped stroke teams save time, and RapidAI analytics and business intelligence products began helping stroke networks reduce costs and improve patient outcomes. “2020 was such a challenging year for so many around the world, it’s gratifying that our growth and success meant many more lives saved from cerebrovascular disease across dozens of countries,” said Don Listwin, CEO of RapidAI. “Last year we expanded our global footprint, we introduced important new technologies, we helped hospitals understand their businesses better, we made our first strategic acquisition, and we expanded our scope from stroke to include other vascular illnesses, such as aneurysm and pulmonary embolism. With 2020 in the books, we join the world in looking toward a brighter 2021.” RapidAI Growth: Building on years of profitability, announced a $25 million Series B, to accelerate strategic growth initiatives around the world Acquired EndoVantage and expanded scope to address aneurysm Expanded to 60 countries, including Australia and Argentina Worldwide adoption of the Rapid® platform reached 1,800 hospitals Processed more than 1,000,000 stroke imaging scans in 2020 alone, more than a 1,900% increase over 2017 Achieved greater than 100% year-over-year increase in patients scanned Became RapidAI. The company that leads AI-enhanced stroke imaging around the globe, embraced the future with a new brand and website, RapidAI.com Rapid LVO became one of the first software products to qualify for the New Technology Add-on Payment (NTAP), a significant advancement in stroke care reimbursement Launched the RapidAI Technology Partner Program Partnered with Penumbra, for expansion into pulmonary embolism “RapidAI’s credibility can be assessed from the fact that their solutions are used by over 1,800 hospitals in over 60 countries, and them being profitable since their founding year – an extremely rare occurrence in the imaging AI sector,” said Parth Shah, Senior Research Analyst at Frost & Sullivan. “Not resting on their laurels, in 2020 RapidAI added features to their solutions to address the workflow for stroke interventions, thus providing an end-to-end capability from triaging to intervention. Ultimately this will result in even faster time to treatment, further enhancing patient outcomes and reducing long-term costs.” RapidAI Innovation: Rapid ASPECTS received Food and Drug Administration (FDA) clearance as the first neuroimaging analysis device in the CADx (Computer-Assisted Diagnostic software) category. Rapid ASPECTS is the only neuroimaging product shown to improve physicians’ interpretations of Non-Contrast CT (NCCT) scans using a standardized ASPECT score RapidAI offered Rapid Aneurysm, a comprehensive aneurysm management platform Rapid LVO received FDA clearance for detecting suspected Large Vessel Occlusions. Rapid LVO helps physicians speed up triage or transfer decision-making Introduced RapidAI Insights, a valuable solution for multi-site systems and referral networks looking to standardize stroke care processes and optimize operational efficiencies that help to reduce costs across sites, while simultaneously improving patient outcomes and saving more lives Launched the Rapid Web App, which offers stroke teams a convenient way to view notifications of new cases, preview Rapid results and source files, and enable workflow communications among team members via their desktop or laptop RapidAI Awards: RapidAI received the 2020 Global Company of the Year Award from Frost & Sullivan RapidAI won a Minnie. AuntMinnie.com named RapidAI The Best New Radiology Vendor of 2020 RapidAI was awarded the 2020 Global Growth, Innovation & Leadership Frost Radar Award

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Jessica Stebing

Jessica Stebing

Group Manager, Marketing Communications

stebing@rapidai.com