Japan’s Mitsui backs Series B funding in US firm Koios Medical

Japan’s Mitsui & Co. Ltd. has participated as a lead investor in the Series B financing round of Koios Medical, a US-based healthcare technology and digital medicine company.

The investment was made through Mitsui’s wholly owned subsidiary, MBK Healthcare Management (MHM), which is the company’s dedicated healthcare operating platform. MHM is also the biggest shareholder of IHH Healthcare Berhad, a leading premium healthcare provider that is currently operating in 80 hospitals in 10 countries and with more than 15,000 licensed beds.

“Today, the global healthcare industry is facing many difficulties, such as rising medical costs and a shortage of healthcare workers. At Mitsui, we believe that these issues can be addressed by harnessing the potential of untapped data within the healthcare system, as well as through active collaboration between traditional healthcare stakeholders and new businesses on cutting edge technological solutions,” said Takeshi Akutsu, Chief Operating Officer of Mitsui’s Wellness Business Unit.

Akutsu said that both Mitsui and MHM have been actively exploring the health tech start-up space, with the aim of strengthening their healthcare assets. They also target to expand their healthcare data business by investing in innovative start-ups that transform care and harness the power of data within their portfolio.

Operating with regulatory clearances from the U.S. Food and Drug Administration and CE Marks, Koios develops AI-powered clinical decision support software for radiologists, endocrinologists, and other trained physicians and technicians.

The company’s products are vendor agnostic solutions that can be integrated into most picture archiving and communication systems (PACS) workstations for breast and thyroid ultrasound analysis and reporting.

The use of Koios’s software aims to empower physicians in their decision-making process and enhance the patient experience. It also helps identify cancers in its early stages, reduce unnecessary procedures and minimize the stress associated with false positive findings.

AI-enabled decision support solutions such as Koios’s are increasingly important to alleviate the rising pressures in radiology and healthcare systems worldwide brought on by aging populations, escalating healthcare costs and a healthcare workforce shortage, Takeshi Saito, Managing Director & Chief Executive Officer of MHM, said.

Saito added that Koios focuses on improving both the physician’s and individual’s experience as they also align this investment with Mitsui’s and MHM’s common goal of transforming patient care.

MHM, for its part, aims to facilitate collaborations between Mitsui’s existing portfolio companies and Koios, while they also help Koios expand its presence globally to enable better patient care.

Mitsui, that is based in Tokyo, believes on the importance of transforming the healthcare system to become patient centric one. At the same time, the company wanted to promote the prevention of illnesses and create an environment, wherein people can enjoy both physical and mental well-being.

The company is also looking at the creation of various businesses through integrating its tangible assets and digital solutions in order to establish “wellness” that is fulfilled by the three key elements – healthcare, prevention and well-being.