Spect Inc. Company Profile

Background

Overview

Spect Inc. is a data science company specializing in end-to-end eye disease screening solutions. Founded in 2017 and headquartered in Salt Lake City, Utah, the company is dedicated to preventing blindness through the early detection of eye diseases and aims to build a comprehensive platform for healthcare data analytics.

Mission and Vision

Spect's mission is to prevent blindness by enabling early detection of eye diseases and to develop a platform for healthcare data analytics. The company views the eye as "The Check Engine Light of the Body™," serving as a key indicator of both eye-specific conditions, such as diabetic retinopathy, glaucoma, and age-related macular degeneration, and systemic diseases like stroke and Parkinson's.

Industry Significance

Spect's innovative approach addresses critical healthcare gaps by providing accessible and affordable eye screenings, thereby improving patient outcomes and reducing healthcare costs. The company's solutions are particularly impactful in primary care settings, where they enhance the detection and management of eye diseases.

Key Strategic Focus

Core Objectives

Spect aims to revolutionize eye care by integrating advanced data science and telemedicine to deliver efficient and cost-effective eye disease screenings. The company's objectives include expanding its diagnostic capabilities, increasing accessibility to eye care, and leveraging its data analytics platform to improve patient outcomes.

Areas of Specialization

Spect specializes in retinal imaging and telemedicine solutions, focusing on the early detection of eye diseases and the development of healthcare data analytics platforms. The company's technology enables medical assistants to capture retinal images and receive diagnostic reports, facilitating timely interventions.

Key Technologies Utilized

Spect employs a human-in-the-loop telemedicine platform that trains medical assistants to perform retinal screenings and generate diagnostic reports. The company is also exploring the integration of artificial intelligence to automate image capture and grading, further enhancing the efficiency and accuracy of its services.

Primary Markets Targeted

Spect primarily targets primary care clinics, at-home care providers, and healthcare systems seeking to integrate eye disease screenings into their services. The company's solutions are designed to be accessible and cost-effective, making eye care more attainable for a broader patient population.

Financials and Funding

Funding History

As of November 30, 2021, Spect secured $3.5 million in Series Seed financing. The funding round was led by Morado Ventures, XTX Ventures, 10x Group, and AME Cloud Ventures.

Utilization of Capital

The capital raised is intended to build out Spect's AI capabilities, expand its team, and enhance diagnostic access through partnerships with leading clinics and enterprise health systems.

Pipeline Development

Spect's pipeline focuses on developing and refining its retinal imaging and telemedicine solutions. The company is working on integrating artificial intelligence to automate image capture and grading, aiming to improve the efficiency and accuracy of its diagnostic reports. Specific timelines for these developments have not been publicly disclosed.

Technological Platform and Innovation

Proprietary Technologies

Spect's proprietary technology includes a portable retinal imaging device and a telemedicine platform that enables medical assistants to perform eye disease screenings and receive diagnostic reports. The company is also developing AI-driven capabilities to automate image capture and grading.

Significant Scientific Methods

Spect employs a human-in-the-loop approach, training medical assistants to conduct retinal screenings and generate diagnostic reports. The company is exploring the use of artificial intelligence to automate image capture and grading, enhancing the efficiency and accuracy of its services.

Leadership Team

Executive Profiles

Mike Ricci: Co-founder and CEO. Mike has a background in healthcare technology and has been instrumental in developing Spect's vision and strategic direction.

Michael Leung, MS: Co-founder and COO. Michael brings expertise in operations and has played a key role in scaling Spect's services.

Drew Hosford, MS: CTO. Drew has a background in engineering and technology development, leading the technical aspects of Spect's platform.

Neha More: Head of Product. Neha oversees product development, ensuring that Spect's offerings meet the needs of healthcare providers and patients.

Nic Soubry, PhD: Sales. Nic leads sales initiatives, driving the adoption of Spect's solutions across various healthcare settings.

Courtney Santonastaso: Clinical. Courtney manages clinical operations, ensuring the quality and effectiveness of Spect's services.

Ali Zaidi, MD: Co-founder and Director. Ali contributes medical expertise, guiding the clinical aspects of Spect's offerings.

Ted Leng, MD, MS: Co-founder and Advisor. Ted provides strategic advice, leveraging his experience in ophthalmology and healthcare innovation.

Ankur Gupta, MD, MS: Co-founder and Advisor. Ankur offers guidance on medical strategy and product development.

Competitor Profile

Market Insights and Dynamics

The eye care industry is evolving with advancements in telemedicine and AI, leading to increased accessibility and efficiency in eye disease screenings. Spect operates in a competitive landscape with several key players offering similar solutions.

Competitor Analysis

Key competitors include companies that provide AI-driven eye disease screening solutions and telemedicine platforms. These competitors focus on integrating technology to enhance the detection and management of eye diseases, aiming to improve patient outcomes and reduce healthcare costs.

Strategic Collaborations and Partnerships

In July 2024, Spect partnered with DocGo to reduce care gaps and improve eye and vision health. This collaboration aims to enhance the accessibility and quality of eye care services.

Operational Insights

Spect's strategic considerations include differentiating its services through technological innovation, such as AI integration, and expanding its market presence by forming partnerships with healthcare providers. The company's focus on accessibility and affordability positions it to effectively compete in the eye care industry.

Strategic Opportunities and Future Directions

Spect's strategic roadmap involves further developing its AI capabilities, expanding its partnerships with healthcare systems, and enhancing its data analytics platform. These initiatives aim to improve the efficiency and effectiveness of eye disease screenings, contributing to better patient outcomes and broader access to eye care services.