Bia Health Secures $2.15 Million to Scale AI Diagnostic Tool

Québec City-based Bia Health has raised $2.15 million CAD to expand the reach of its AI-driven clinical assistant, as BetaKit first reported. The funding includes $1.4 million in debt from Montréal-based Finalta Capital, with equity led by Anges Québec and participation from Desjardins via its Startup en résidence program.

Bia Health CEO and co-founder Anne-Sophie Paquet told BetaKit that the company's goal is to decrease unnecessary and low-value care, which she estimates accounts for 30 percent of Canadian healthcare. The Bia Assistant is designed to provide evidence-based recommendations to help clinicians determine if imaging, referrals, or other interventions are necessary based on patient symptoms. Paquet, a physiotherapist, noted that the company is not starting from scratch, as the enterprise currently generates $500,000 in annual recurring revenue.

Bia Health claims that widespread adoption of its technology in primary care could save Québec up to $100 million annually. To validate these claims, the company entered into an agreement with Santé Québec for a six-month pilot in the Capitale-Nationale – Universitaire region. This program will involve 100 clinicians specializing in musculoskeletal care, including bone fractures and osteoarthritis, before the company expands into other diagnostic categories.

While the company is beginning in its home province, BetaKit reports that Bia Health intends to enter the U.S. market. This move follows a Journal of the American College of Radiology study finding that unnecessary medical imaging costs the U.S. healthcare system approximately $12 billion USD ($17 billion CAD) per year.