Modern technology has tremendously improved healthcare, but limited human resources sometimes hampers progress. “There is a currently shortage of image specialists and radiologists, while the demand is constantly increasing. Doctors suffer from burnout, and there is a high level of misdiagnosis. If just 1% could be corrected, hundreds of thousands of lives could be saved every year,” said Hanalytics CEO Raymond Moh when speaking at the conference “Bringing innovation to the health tech market” organised by Luxinnovation on 19 September.
Hanalytics uses artificial intelligence (AI) to help doctors improve the accuracy and efficiency of their diagnostics and treatment. The company’s flagship product BioMind – the first CE-certified AI application for brain diagnosis in the world – integrates state-of-the-art deep learning technology with vast clinical knowledge to mimic how doctors diagnose patients’ medical images. It recommends a diagnosis and automatically generates a report for doctors to review within seconds.
The application appealed to Hôpitaux Robert Schuman (HRS), which was interested in implementing the solution in its clinical work. “The company and the hospital are collaborating to pilot the AI application for use in radiology. We are working together on its ongoing assessment and improvement to best integrate into our clinical workflow,” said Dr Damien Dietrich, Medical Director in charge of Digitalisation at HRS.
HRS and Hanalytics formalised there collaboration by signing a Memorandum of Understanding at the conference on 19 September in the presence of Deputy Prime Minister, Minister of the Economy and Minister of Health Étienne Schneider. “Luxembourg is home to a young and dynamic healthtech sector with digital health businesses, strong IT infrastructures and key advanced manufacturing capabilities,” the minister pointed out. “Luxembourg therefore offers key ingredients for success to companies willing to develop and bring to the national and European market innovative healthtech solutions that will shape the future of healthcare in Europe.”
A springboard to Europe
Supported by the Ministry of the Economy, the House of Entrepreneurship and Luxinnovation, Hanalytics opened its European branch in Luxembourg in July this year. “Luxembourg is a very good place for business,” Mr Moh underlined. “The country allows us to find partners with a passion for AI and understand the needs of our target consumers and audience. This is necessary for us to fine-tune our solutions to suit the needs of the customers over here. Luxembourg is a one-stop shop for us to find catalysts to commercialise our activities here and use this place as a springboard to the rest of the European Union.”
The company is now looking to set up its local team here. “Luxembourg being a multicultural country allows us to find the talents that we need for different facets of our business: commercial development, marketing, sales, research and technology development. I think being here is the right choice,” Mr Moh concluded.
Photos: Luxinnovation/Marie De Decker