Samsung, Bayer, and a few other firms have invested $90 million in Ada Health, the firm which works on the Ada health app which uses artificial intelligence to give more accurate results about what may be wrong with you based on your symptoms. Following this round of investment, Ada Health has received investments of up to $150 million.
With the money, Ada will develop its product further to make its health assessments even more accurate so that it can become “the world’s leading personalized operating system for health”. Bayer has also decided to go into discussions with Ada Health about forming a long-term strategic partnership to get support with its healthcare businesses.
Commenting on the investment, Daniel Nathrath, CEO and co-founder of Ada Health, said:
“Today's investment will help bring us closer to our goal of improving healthcare outcomes for more than 1 billion people around the world. We're proud to have investors on board who truly believe in Ada's technology and vision of transforming the way people access healthcare. We are thrilled to have Leaps by Bayer as the lead investor particularly as our values are very much aligned with putting science and technology as well as a commitment to medical quality and user-centricity at the heart of everything we do.”
The Ada app allows users to enter in their main symptom which they’re dealing with, from there, Ada asks several multi-choice questions that the user should answer to the best of their ability. Finally, Ada will provide up to five illnesses that the user could be suffering from with details about each including the risks of the illness, its symptoms, how a diagnosis is made by doctors, how to treat the illness, how to prevent the illness, and a prognosis.
While Ada stresses that its results are not a diagnosis, they can give you a good idea of what could be wrong and help shorten the time it takes to receive a diagnosis from a doctor. At a time when healthcare systems are being burdened by the COVID-19 pandemic, Samsung and Bayer will no doubt be looking at this aspect of the app to offer services that justify their investment.