The UM start-up, utilizing licensed technology from the UM’s medical school was purchased by global health technology organization Royal Philips
The UM company, entitled Analytical Informatics Incorporated as well as its associated technology shall be merged into Radiology Solutions (PRS), a subsidiary of Royal Philips.
Philips is considered a significant company with a global presence, earning over $20 billion annually and employing 73,000 individuals.
The UM company Analytical Informatics was originally started as of 2011, after acquiring licensing for technology consisting primarily of applications and tools developed to provide swift information in real-time within the field of medical imaging by using data.
The general manager of PRS, Sham Sokka, stated that the integration of Analytical Informatics applications and tools pertaining to software to the products currently offered will allow PRS to deliver next-generation, advanced software, technology, and services in the field of radiology.
Unique, useful inventions are common in the research labs of UM
Commercialization is no stranger to the UM’s medical school, as it has already partnered with the UM’s Technology Transfer office as well as other departments to decide what laboratory and research findings are worth marketing.
This includes pharmaceuticals, technologies, and other products in the health field. Some of these products or research findings are the foundation of companies, others become available with licensing deals.
Researchers from the university have also been responsible for licensing a form of treatment for the autoimmune disease, celiac disease. It has also garnered investment in order to create an immensely useful diagnostic tool to diagnose IBS, a notoriously difficult issue to diagnose as the symptoms can be related to numerous health issues.
Among other projects include a device for radiation therapy intended for the treatment of breast cancer, as well as a revolutionary drug to actually treat a stroke.