Substrate Artificial Intelligence (AQSE:SAI.B, OTCQB:SUIAF), the Valencian AI firm listed on the BME Growth Market, has acquired Equipos Hospitalarios, a medical equipment company, for €2.6 million.
The acquisition amplifies Substrate AI's focus on the healthcare sector, where AI is poised to play a pivotal role. The deal expands the company's client base and opens new avenues for its software solutions tailored to the industry.
José Iván García, CEO of Substrate AI, emphasised the growing importance of AI in healthcare, particularly in diagnostic imaging for animals and veterinary clinic management. "Spending on pets is increasing by more than 5% per year worldwide and already exceeds $200 million," García noted.
Substrate AI, which debuted on BME Growth in May 2022 as Spain's first listed AI company, operates as a holding entity.
It focuses on the development and application of AI across various sectors, including healthcare, agritech, fintech, human resources, and energy, with an overarching goal of driving economic sustainability and emission neutrality.
The firm also provides AI consulting services for companies looking to integrate such solutions into their operations.
Beyond its BME Growth listing, Substrate AI trades on the American OTC market and is in the final stages of listing on London Aquis, a market geared towards growth companies.