Florida-based Exactech, a producer of innovative implants, instrumentation and smart technologies, has taken steps to bolster its AI expertise through the acquisition of a team of data scientists and a software licensing agreement with Advata. This new agreement will extend the features of the company’s exclusive machine learning-based clinical decision support tool Predict+.
Using machine learning and predictive analytics, Predict+ makes precise risk and benefit predictions for shoulder replacement surgery, based on the clinical experience documented within a database of more than 15,000 patients. This technology is intended to better inform surgeons about the possible outcomes for their patients. Exactech has also exclusively licensed software from Advata that will further enhance the capabilities of its ML-based tool and increase its integration with the Equinoxe® Planning App and other software and databases.
The agreement also marks the hire of an established team of machine learning researchers and engineers that have previously worked with Advata. This team will help Exactech accelerate its ML research and development capabilities. Exactech’s VP of Machine Learning, Vikas Kumar stated that his team shares the same goal of improving healthcare decision making and optimizing clinical outcomes through the use of ML-based software.
Exactech focuses on joint replacement opportunities in the shoulder, hip, knee and ankle. With the team of data scientists alongside the integration of additional AI software, the company hopes to improve patient outcomes while providing easy to use, tech-driven solutions.
Advata is a leading provider of advanced data analytics software for healthcare providers, offering solutions with predictive analytics, AI, ML and automation. The company’s product offerings increase administrative efficiencies and enable healthcare providers to collect more revenue more quickly. Headquartered in Rochester, NY, Advata has been working with Exactech since 2019, and this newly announced agreement is indicative of the two companies’ ongoing collaborative efforts.
