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21 Feb, 18 tweets, 5 min read
$BFLY is focused on democratizing "medical imaging" - a little more on their vision and how they could become a leading player in the health assurance industry
$BFLY is a disruptive medical device company focused on imaging that is affordable, easy-to-use, & globally accessible. Simple imaging can identify 2/3 of diagnostic conditions, but 2/3 of the world has no access to medical imaging
Currently their Butterfly iQ:
- Serves as a portable ultrasound device
- Plugs directly into iPhone & works on intuitive app
- Provides full cardiac, lung, & bladder imaging
- Costs under $2K (legacy ultrasound tech is 60+ yrs old & 10x as expensive)
They also have:
- Purchases & agreements with most top 100 US healthcare systems
- 30K+ devices shipped globally
- Industry-leading net promoter score of 71
- Availability in 20+ countries including US, Canada, Europe & Australia
Right now they only sell to med centers, hospitals, clinics, and veterinarians, but moving forward they plan on expanding their market by offering the Butterfly iQ directly to consumers (at home use)
Why is this important? Bc it vastly increases their TAM and it catalyzes their transition to preventative care rather than diagnostic care (similar to what I discussed in my $HAAC thread)
It also helps them reach their end goal, which is to make the Butterfly iQ as ubiquitous as the stethoscope. How exactly do they plan on doing so?
By designing a platform (hardware & software) that is intuitive and easy to use, while also providing the infrastructure needed to retain new and existing users (cloud OS that helps to seamlessly transfer and centralize this health information)
Furthermore, they are continuously improving their platform through feedback from healthcare professionals and use of AI / deep learning. This feedback loop helps them constantly improve their imaging tech
Their existing data driven platform has helped them create an ecosystem for medical imaging they can continue to expand on in the coming years (broad range of applications they can target)
So $BFLY effectively falls under the health assurance banner bc they have a platform optimized around access / scale and low costs + they are focused on preventative care (ultrasounds are inherently diagnostic but can be used for preventative purposes)
Below are two interesting quotes I came across from Dr. Jonathan Rothberg, their visionary founder and accomplished healthcare professional:
“2020 was a milestone yr for Butterfly as we made significant progress towards fulfilling our mission to deliver innovative ultrasound technology that is easy to use, integrates into clinical decision-making workflow, & ultimately lowers the cost of care" butterflynetwork.com/press-releases…
“As we further develop our roadmap, we plan to partner with our customers to expand into novel market applications including chronic disease management, which impacts more than 100 million patients in the United States alone.” - very $LVGO esque
In a recent interview he confirmed that their continuous improvements will allow them to eventually move from a probe to a patch - meaning they could be a big player in the future wearables space
He also founded portable MRI company Hyperfine in 2014, which very well could be integrated into the butterfly network once it is more proven and receives the necessary approvals hyperfine.io
So in summary, $BFLY is already disrupting medical imaging and their roadmap will feature the new Gen3 probe & at-home wearables. This + their existing, data driven, cloud based platform could propel them into becoming a TML in medical imaging and health assurance
A quick thread on how $BFLY could become a leading player in the health assurance space -

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