Medical device startup Exo is reportedly in discussions with Samsung’s venture investment division for a potential $100 million funding round, according to Bloomberg, citing anonymous sources. The California-based company specializes in handheld medical imaging devices.

The funding round is reportedly being led by Sands Capital, Bold Capital, and Qubit Health Capital. Imar Ishrak, chairman of Qubit, is expected to join Exo’s board, according to the report.

Exo, established in 2015, develops handheld medical imaging tools that integrate artificial intelligence, medical imaging, and silicon technology to facilitate ultrasound examinations, including lung scans and echocardiograms. The devices connect to smartphones, enabling medical professionals to scan patients, document findings, and share reports via a single submission.

To date, Exo has raised over $320 million from investors such as RA Capital Management, BlackRock, Sands Capital, Intel, Sony, and Avidity Partners. The company’s most recent funding round was a $220 million Series C in 2021.

Reports also indicate that Exo is exploring a partnership with Samsung Medison Co., a manufacturer of medical devices for ultrasound diagnostics and digital X-ray systems.

“The devices connect to smartphones, enabling medical professionals to scan patients, document findings, and share reports via a single application.”

The Rise of Point-of-Care Ultrasound (POCUS)

Exo’s potential partnership with Samsung highlights the growing trend of point-of-care ultrasound (POCUS) and the increasing demand for portable and accessible medical imaging solutions. The integration of AI into these devices further enhances their capabilities, allowing for faster and more accurate diagnoses.