EIQ and Ultromics are both companies that leverage artificial...

EIQ and Ultromics are both companies that leverage artificial intelligence (AI) in the field of cardiology, specifically in the analysis of echocardiograms. However, they focus on different aspects of cardiac health and their platforms have unique features.

EIQ's mission is to support earlier access to life-saving treatments and therapies for various forms of structural heart disease. [https://www.echoiq.ai/]

EIQ have developed an AI diagnostic tool called EchoSolv™, which is aimed at revolutionizing the diagnosis of structural heart disease, potentially reducing the incidence of undetected and misdiagnosed cardiac issues.

EchoSolv™ was developed using a large database, the National Echocardiographic Database of Australia (NEDA), which collects echocardiographic measurements and associated health information from more than 35 leading hospitals.

On the other hand, Ultromics focuses on the early detection and effective management of heart failure using echocardiography, the most common cardiac imaging modality. [https://www.ultromics.com/]

Their product, EchoGo, is designed to deliver unprecedented precision and accuracy in detecting Heart Failure with preserved Ejection Fraction (HFpEF) from an echocardiogram. They aim to help providers identify heart failure earlier, faster, and more easily, combating the dramatic increase in anticipated heart failure cases and costs globally6.

While both companies utilize AI to improve the diagnostic capabilities of echocardiography, Echo IQ primarily focuses on structural heart disease, whereas Ultromics is more centered around heart failure detection and management.

To be honest though, this was a brief review and I haven't looked into Ultromics enough to appreciate the breadth of their competition with EIQ. Ultromics is clearly larger and more advanced though (e.g. already having FDA approval etc)

Having a very preliminary review of their market cap and position -https://pitchbook.com/profiles/company/183714-58#overview, https://www.cbinsights.com/company/ultromics/financials nad https://app.dealroom.co/companies/ultromics suggest that Ultromics are significantly larger than EIQ, private (which can assist with cap raising and speed of growth) and have some serious backers (look at their investor list).

All that said, so far EIQ hasn't needed to raise anywhere near the amount that Ultromics has; it will be interesting to see what happens over the next 6 - 12 months.