Exo Imaging, Backed by Samsung and Former Medtronic CEO Omar Ishrak, Files for IPO Following $100M Funding Round

May 29, 2025 16:00 CST Updated 16:00

Samsung Medison

Diagnostic Ultrasound System Manufacturer

Medtronic

Medical Device Manufacturer

Exo ImagingAnnounced a strategic partnership with Samsung Medison (a subsidiary of Samsung) to jointly develop advanced ultrasound solutions. This collaboration includes a strategic equity investment by Samsung Medison, aimed at accelerating the development of next-generation ultrasound platforms.In addition to Samsung Medison, it also obtainedSands Capital, Bold Capital, and Qubit Health Capital invested. This timeExo ImagingTotal financing of $100 million was obtained.

At the same timeExo ImagingAlso announced that Omar Ishrak has joined the board as the chairman of the Strategy Committee.

Investor Evaluation

"This collaboration marks a crucial step forward in our journey to drive the transformation of ultrasound imaging. Partnering with Exo represents a significant milestone in advancing ultrasound technology. We are committed to enhancing diagnostic capabilities through innovation, creating a superior clinical experience for both patients and healthcare professionals."

---Kyu Tae Yoo CEO of Samsung Medison

"Exo's technology is expected to significantly enhance the accuracy and accessibility of diagnostics. I look forward to assisting in formulating the clinical strategy and long-term vision for this important collaboration."

---Omar Ishrak Chairman of Qubit Health Capital, former Chairman and CEO of Medtronic, former CEO of GE Healthcare Systems

Introduction to Omar Ishrak

Omar IshrakAfter serving as President and CEO of GE Healthcare, he became the CEO of Medtronic in 2011.Omar transformed Medtronic into a truly global company, focusing on expanding healthcare services in new geographic regions and emphasizing value-based healthcare solutions.

InDuring Omar's tenure, he completed several major mergers and acquisitions, the most significant of which was the $42.9 billion acquisition of Covidien. This acquisition also stands as the largest M&A deal in the history of the medical device industry. By acquiring Covidien, Medtronic surpassed Johnson & Johnson to become the global leader in medical devices.

Within 9 years, Medtronic's market value tripled, increasing from $51 billion to$150 billion, becoming the world's largest pure medical device company by market value.

Omar can be said to be the greatest CEO in Medtronic's history.Retired in 2020, after which he alsoServe as the chairman of Intel.

Chairman of Qubit Health Capital since May last year,Qubit Health Capital is an investment firm dedicated to revolutionizing healthcare by supporting transformative technologies across the UK, Europe, and the US.

Exo Imaging

Exo ImagingIs the leader in handheld ultrasound, and with its advanced ultrasound platform that integrates innovative silicon-based hardware, deeply coupled artificial intelligence, and user-friendly collaborative software, it is redefining medical...Study imaging. Its handheld systems and those soon to be integrated into OEM equipment provide high-performance imaging and real-time clinical intelligence, enhancing diagnostic quality and accessibility across various medical scenarios.

CurrentlyExo ImagingMultiple products have received FDA approval, such as

Exo Iris It is a compact and efficient ultrasound device that integrates curved, linear, and phased array functions into a single probe.Without the need for multiple probes, it greatly simplifies the operation process for healthcare practitioners and enhances the device's adaptability in various clinical environments.
SweepAI is its accompanying artificial intelligence imaging platform, capable of intelligently determining imaging angles and assisting in the diagnosis of various diseases such as heart failure, valvular disease, pneumonia, and pulmonary embolism. It operates without the need for an internet connection, ensuring stable use in remote or off-grid environments.
Exo Works isA hardware and software platform for patient data collection, image archiving, examination report generation, and hospital integration.PACS SystemIntegration, building a "Device + AI + Management" integrated SaaS architecture