UltraSight has Bright Future as First Graduate of Fogarty’s Company Accelerator Program

by | Mar 3, 2022 | Companies, Mentoring

Fogarty Innovation’s Company Accelerator Program (CAP) is off to a strong start, celebrating the graduation of its first startups, Flosonics and UltraSight. The latter has developed an artificial intelligence-driven software designed to allow clinicians who aren’t trained in sonography use point-of-care ultrasound.

When UltraSight first joined, they were at a very early stage of developing their business strategy and validating their market. Today the company is much closer to its end goal of getting to market. 

Benefiting from a deep dive

Fogarty Innovation was highly instrumental in helping UltraSight line up interviews with many different practitioners, technicians, hospitalists and intensivists to hear their perspectives, which helped both challenge and validate their initial assumptions, according to the startup.

The team also appreciated insight and advice on business strategy, especially benefitting from a three-day onsite workshop at the Fogarty Innovation offices where they further developed relationships and honed in on their strategy, including mapping out the reimbursement landscape and highlighting gaps so they could be more successful. “It was an incredibly valuable learning experience to spend time with the Fogarty team, discussing different scenarios and developing solid plans,” said Xen Mendelsohn Aderka, UltraSight’s vice president of marketing. “It really allowed us to leap ahead.”

“The program helped us connect with the eventual end users of our technology, enhance how we position our value proposition and develop a business strategy that would not only help us get to market but also is important to potential strategic acquirers and our board,” said Davidi Vortman, CEO of UltraSight. “I was inspired by how deep the Fogarty team was willing to go. Even when they recommended an outside person as a resource, they remained active in helping us get closer to market launch, which I think is pretty unique.”

UltraSight worked closely with several Fogarty mentors, including Marga Ortigas-Wedekind, Gayle Kuoka, Zach Edmonds and Andrew Cleeland, to determine how to scale the company and position themselves as leaders in the space. This involved finding clarity on the four pillars that create the foundation – clinical evidence, market awareness, point of differentiation and ability to influence the market.  

“The team’s deep and broad range of expertise was very impressive,” said Xen, adding that Zach’s experience was particularly helpful as a strategic advisor on the Fogarty team and a hospitalist who happens to use point-of-care ultrasound as part of his daily practice. “His real-world experience was invaluable because he could provide direct feedback and also connect us with other physicians to test our system.”

What’s next for UltraSight

The team is launching in both Europe and the U.S. – as well as in outer space to conduct a study on how outer space travel impacts the cardiovascular system, leveraging UltraSight’s technology.

UltraSight recently completed a successful clinical study at the Sheba Medical Center in Israel, touted as one of the top 10 hospitals in the world. The study demonstrated very promising outcomes. “The results exceeded our expectations,” said Davidi. “Study participants had never worked with ultrasound before, and we received great feedback about how easy the software is to use. They reported it gave them confidence, so they felt empowered. This has been extraordinarily rewarding to see our technology making such an impact.”

The results will be submitted at several upcoming conferences. 

About the Company Accelerator Program (CAP)

The CAP program focuses on supporting early-stage companies in developing a comprehensive, cross-functional approach to address their desired opportunity by “starting with the end in mind.” The six-month program is designed to help companies clearly focus on their opportunity and identify barriers to success. 

  • Search by category: