Waterloo, Ontario, Canada:
Inc. a leader in cutting-edge Artificial Intelligence technologies,
today announced that they have secured a $1.5 million equity investment
from V. Raman Kumar, founder and former CEO of MModal, the world’s
largest clinical documentation company and pioneer of voice-based
Mr. Kumar has joined Vestec’s Board of Directors as Vice Chairman and
will also oversee the development of products and services for the
global industry with a special focus on healthcare.
“Natural language understanding applications represent the next frontier
in healthcare,” said Dr. Fakhri Karray, Vestec’s primary Founder and
Chairman. “We are very happy Raman will be contributing his considerable
expertise and relationships to our team.”
“I am delighted to join the Board of Vestec,” said Mr. Kumar.
“Healthcare has a growing need for natural language understanding
technologies, and Vestec, with its strong IP and advanced AI platform
offers many competitive advantages which we will productize and bring to
Vestec was founded by a distinguished group of Artificial Intelligence
(AI) researchers from Canada’s famed University of Waterloo under the
chairmanship of Dr. Fakhri Karray, a renowned expert in the field of
computational intelligence at Canada’s University of Waterloo. Dr.
Karray is the University Research Chair Professor in the field of
Intelligent Systems as well as the co-Director of the Center for Pattern
Analysis and Machine Intelligence (PAMI). Vestec solutions enable
sophisticated speech-based user interfaces in all major languages across
a wide variety of business processes. Unlike traditional speech
recognition and semantic understanding technology, Vestec’s cutting-edge
Artificial Intelligence-based approach significantly reduces
time-to-market while increasing semantic accuracy. www.vestec.com
About V. Raman Kumar:
Mr. Kumar is the founder and former Chairman/CEO of CBay Systems/MModal.
He founded CBay Systems, subsequently renamed MModal, in 1998, and took
the company from start-up into the world’s largest provider of clinical
documentation technology solutions to the U.S. healthcare industry.
MModal was recently sold to One Equity Partners (JP Morgan’s private
equity arm) for $1.1 Billion. Today, Mr. Kumar is the Chairman and
Managing Director of Aeries Group and Chief Mentor at Zeus Capital (www.zeuscaps.com).
Mr. Zuhair Khan, CFO
+81 90 6343 9202