Butterfly Network and Caption Health Announce Exclusive Strategic Partnership to Enable Earlier Disease Detection and Management with AI-Based Guidance and Diagnostics
Butterfly Network, Inc. (NYSE: BFLY), manufacturer of Butterfly iQ+, the world’s first handheld whole-body ultrasound system with patented Ultrasound-on-Chip™ technology and comprehensive software platform, and Caption Health, creator of Caption AI, the world’s first and only FDA-cleared AI-guided ultrasound software, today announced that they have entered into an exclusive strategic partnership. For a broad set of healthcare professionals, Butterfly and Caption’s integrated solution should enhance cardiac assessment by improving the ease of image capture and image interpretation in a variety of care settings including the hospital, clinic, and home.
Recently, Caption Guidance™ received CMS (Centers for Medicare and Medicaid Services) new technology add-on payments (NTAP) authorization, which will go into effect on October 1, 2021. The NTAP designation is awarded to new medical technologies and services which are expected to substantially improve the diagnosis or treatment of Medicare beneficiaries.
“Seeing is knowing, and our mission to democratize medical imaging and transform healthcare is enabled by Butterfly’s unique ability to deliver powerful clinical information at the point of care,” said Dr. Todd Fruchterman, President and CEO of Butterfly Network. “By combining Butterfly’s differentiated solution with Caption’s AI capabilities, we are accelerating on our promise to provide practitioners with an easy-to-use advanced assessment tool that allows them to make more informed clinical decisions earlier in the patient care journey. With this partnership, we are enabling better care that can lead to improved patient outcomes.”
“Our partnership with Butterfly unlocks a new frontier in patient care. This is a pivotal time when imaging can reinvent diagnostic speed and accuracy. Butterfly’s comprehensive and versatile whole-body ultrasound solution will now have FDA-cleared AI guidance and interpretation, allowing every healthcare provider the ability to capture and understand cardiac function, and this is only the beginning,” said Steve Cashman, CEO and President of Caption Health. “The timing of our recent NTAP approval also means a transparent reimbursement pathway for the millions of Medicare patients receiving in-patient care.”
Butterfly and Caption Health are expected to introduce the combined platform on Butterfly iQ+ in the United States later this year.