OXOS Medical Secures $23 Million in Series A Funding

OXOS Medical, the MedTech innovator developing X-ray solutions, has completed a $23 million Series A funding from Parkway Venture Capital and Intel Capital, bringing its total funding to $45 million.
 
OXOS will use the funding to accelerate product innovation and expand availability globally. OXOS continues to build on its traction across outpatient clinics, the military, the Veterans Administration, sports teams, hospitals, imaging centers, and bioskills labs. To help accelerate the company’s growth, Gregg Hill, Parkway Venture Capital co-founder and managing partner, and Eric King, Intel Capital investment director, will join the OXOS board of directors.

Closing the Healthcare Divide

“At OXOS, we have made it our mission to close the growing healthcare divide – the inaccessibility of radiographic technology is impairing patient outcomes in every corner of the globe,” shared Evan Ruff, co-founder and CEO of OXOS. “OXOS’ smart and safe technology addresses the growing needs of orthopedic and radiographic professionals across all care scenarios, expanding access well beyond established sectors. We aim to put safe, powerful, and simple X-ray technology in the hands of urgent care centers, sports teams, home care, and international mission operations, where a real-time diagnosis is critical to saving human lives.”
 
With over $47 billion spent annually on medical imaging by 2030, OXOS is positioned to capture a significant portion of this growing market. OXOS technology overcomes the significant challenges associated with expensive and complex X-ray technologies while addressing the increasing global shortage of radiology resources.

Growing Shortage of Radiology Resources Across the Globe

The demand for radiology services has steadily risen since 2013. Nearly half of the radiologists in the U.S. are of retirement age, and fewer residents are waiting to fill these soon-to-be-vacant positions, leaving the 2025 projected shortage in the tens of thousands. The staffing shortage is even more acute among radiation technologists.
 
In the U.K., 97% of radiology departments cannot meet diagnostic reporting requirements, leaving patients waiting a month or more for their imaging results. OXOS addresses this hospital-driven bottleneck by deploying technology that can be used in diverse environments by users with varying levels of training.

OXOS Smart and Safe Radiation Technology

Traditional radiology solutions, such as C-Arms, the machines used for fluoroscopic imaging during procedures, are well known for their limitations in image quality and high radiation exposure. With a low radiation profile, OXOS devices change the status quo, providing exceptional image sharpness and clarity in the smallest form factor, making X-ray more accessible.

Delivering Safer Devices

OXOS combines advanced image processing, computer vision, X-ray detector improvements, easy ergonomics, and innovative X-ray tube architecture to deliver safer devices, while significantly reducing radiation exposure. OXOS developed the only devices on the market that can provide both static images (digital radiography) and live imaging (dynamic digital radiography), for both diagnostic and surgical radiography, in any setting.
 
OXOS devices connect directly to the OXOS Cloud Platform, allowing physicians to instantly access radiographic studies from anywhere on any device. The platform redefines expectations for seamless care and delivers improved access and efficiency for patients and providers. Fully HIPAA-compliant, the OXOS cloud platform seamlessly integrates with existing radiology infrastructure or can leverage OXOS’ nationwide teleradiology service to provide study interpretation in a fraction of the time.
 
“We are beyond thrilled to be co-leading the OXOS Series A. We believe OXOS will have the same transformational impact on radiology as the iPhone had on mobile computing,” shared Gregg Hill, Parkway Venture Capital managing partner. “Their unique 3D imaging technology, coupled with Computer Vision and Artificial Intelligence, makes OXOS devices easy to use. OXOS automatically selects appropriate doses, minimizing reshoots and reducing radiation overexposure. Combined with its maximum portability and wireless connectivity, OXOS is the future of radiology across all care scenarios.”

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