In a statement, Inspirata, a Tampa, Florida-based company focused on developing tech-based approaches to cancer diagnosis, said that it made the move “to enhance its R&D in artificial intelligence and natural language processing (NLP).”
The financial terms of the acquisition were not disclosed.
The firm added the the acquisition will help in “enabling it to offer its clients advanced capabilities to extract cancer data from narrative text in clinical documents for better data analysis and reporting.”
Artificial Intelligence in Medicine’s technology can analyze data from medical documents including doctor’s notes, pathology reports, molecular testing reports, and treatment plans. While analyzing all this information — more than 65% of which is “unstructured text,” according to Inspirata — is unwieldy and slow for human workers, AI and natural language processing can be employed to find and interpret all the data quickly and reliably.
“Without the use of NLP and other AI techniques to make this data available efficiently and accurately for analysis and reporting, cancer centers must resort to manual data abstraction, which is expensive, time consuming, and error prone,” stated Inspirata.
Jack Golabek, vice president of engineering for Artificial Intelligence in Medicine (AIM), will become the new head of the company and report to Inspirata CEO Satish Sanan, said the firm.
“The acquisition of AIM is extremely strategic for Inspirata because it enables us to bolster our own NLP development efforts by leveraging AIM’s 30-plus years in this field,” said Sanan.
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