SymphonyAI Group, a private group of companies specializing in AI, announced Wednesday, March 4, that it has acquired TeraRecon. No financial details have been shared at this time.
TeraRecon has decades of history in the medical imaging and AI industries. It is the seventh company to join SymphonyAI Group’s growing roster of specialists.
“In just a few years, our company has not only transformed the realm of advanced visualization with artificial intelligence but also our entire industry,” Jeff Sorenson, president and CEO of TeraRecon, said in a prepared statement. “Now with the backing of SymphonyAI Group and the recent recognition of two powerful patents, TeraRecon can think bigger and work faster than ever before. Having been chosen for such an impressive and selective portfolio is truly an honor, and an ideal outcome for our employees, customers and stockholders.”
“The SymphonyAI Group mission is to use AI to transform the enterprise,” Romesh Wadhwani, founder and CEO of SymphonyAI Group, said in the same statement. “We accelerate high-value AI solutions to market to meet the needs of specific vertical industry use cases. TeraRecon has demonstrated the value AI can play in the medical imaging market. We believe that TeraRecon AI technology can continue to deliver unprecedented benefits to doctors and patients and expand into new areas of the healthcare enterprise.”
On March 2, TeraRecon announced that it had been awarded two technology patents from the U.S. Patent and Trademark Office for its AI capabilities. These patents are expected to play a key role in TeraRecon and SymphonyAI Group’s efforts moving forward.