xWave, which is headquartered at NovaUCD, has also announced the launch of a crowdfunding campaign.
A health-tech start-up situated in County Dublin has secured its first-ever competitive UK tender from the National Health Service (NHS).
xWave Technologies, which is headquartered at NovaUCD, made the announcement earlier today (4 November), and will provide its proprietary clinical decision support (CDS) software to general practitioners.
The newly acquired tender will cover eight NHS Trusts in the north-east region of England.
The health-tech firm said that its CDS will serve over 3m patients, “helping them access the right diagnostic test for patients at the right time”.
The start-up’s CDS solution provides supportive technology to significantly help referral and vetting processing for radiology clinicians.
This is done by providing these clinicians with a better chance to help patients get the most appropriate scan first, and as quickly as possible.
xWave added that it has simultaneously launched a campaign on the Spark Crowdfunding platform.
At present, €725,000 has already committed by the company’s existing shareholders.
According to the company, when it comes to radiology, the US Food and Drug Administration has estimated that up to 50pc of advanced radiology scans may be unnecessary and not beneficial to the patients that they are performed on.
“This can result in long waiting lists and poor patient outcomes, including delayed diagnoses, missed diagnoses and unnecessary radiation exposure,” xWave added.
In a report from 2017, the Health Service Executive (HSE) estimated that a 58pc increase in radiology workforce is required by 2027 if Ireland is to meet the growing demands for both clinical radiology (medical imaging, nuclear medicine, and interventional radiology inclusive) and radiation oncology.
Commenting on xWave’s tender win, the health-tech firm’s CEO, Mitchell O’Gorman, said: “This contract win is a validation of the value that xWave brings in helping reduce patient waiting lists and easing pressures on health services.”
O’Gorman added: “We want to bring this important solution to new markets with this funding round on the Spark Crowdfunding platform, while further developing our artificial intelligence capabilities in this area.”
Back in 2021, xWave raised €600,000 in pre-seed funding, primarily from both medical and business professionals.
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