GUILFORD, Conn. & NEW YORK & BRISBANE, Calif.--(BUSINESS WIRE)--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.
About Butterfly Network
Founded by Dr. Jonathan Rothberg in 2011, Butterfly has created the world’s first handheld, single-probe whole-body ultrasound system using its patented Ultrasound-on-Chip™ semiconductor technology. Butterfly’s mission is to democratize medical imaging and contribute to the aspiration of global health equity, including for the 4.7 billion people around the world lacking access to ultrasound. Butterfly is paving the way for earlier detection and remote management of health conditions around the world. The Butterfly iQ+ can be purchased today by healthcare practitioners in the United States, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. Butterfly iQ+ is a prescription device intended for trained and qualified healthcare professionals only.
About Caption Health
Caption Health was founded on a simple but powerful concept: use technology to emulate the expertise of highly trained medical experts and put that ability into the hands of every care provider. The world’s first and only FDA cleared AI-guided ultrasound software, Caption AI, empowers healthcare providers with new capabilities to acquire and interpret ultrasound exams. For more information, visit captionhealth.com.
Forward-Looking Statements
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