ImageIQ, an imaging contract research organization (CRO) has spun out of Cleveland Clinic Innovations, the corporate venturing unit of US-based hospital, after an eight-year incubation and hired Timothy Kulbago as its executive president.
ImageIQ provides customized image analytics and data analysis, delivering objective quantitative evidence that speeds time to discovery and market entry.
Kulbago, who was previously chief strategy officer with Merge Healthcare, said: "We have an opportunity to bring Cleveland Clinic expertise in custom image analysis to the broader market. We have already demonstrated our unique capabilities to several prominent research labs and medical device manufacturers."
Chris Coburn, executive director of Cleveland Clinic Innovations, said: "Cleveland is an emerging hub for healthcare IT start-ups, and ImageIQ has a compelling blend of software engineering and biomedical expertise."
The spin out followed Cleveland Clinic’s creation in January of an Innovation Alliance with MedStar Health, a $4bn not-for-profit regional health care system based in Maryland.
The Innovation Alliance will be a joint effort of Cleveland Clinic Innovations (CCI) and the MedStar Institute for Innovation (MI2) led by director Mark Smith. MedStar will use CCI’s technology and commercialization services infrastructure to manage an idea-to-market process.
Over the past 10 years, CCI has spun off 35 companies and more than 250 licensed technologies.