OpenAI acquired the health-care technology startup Torch on Monday, days after the company unveiled ChatGPT Health, a platform designed to help patients and doctors navigate complex medical information.
The financial details of the deal were not disclosed, but CNBC reported that the Sam Altman-led firm bought the startup for roughly $60 million. Meanwhile, The Information reported that OpenAI paid $100 million worth of equity for the startup.
OpenAI did not immediately respond to Benzinga‘s request for comment.
OpenAI Bets On Unified Medical Memory
Torch was designed to be a unified medical memory for AI, bringing every bit of data about you from hospitals, labs, wearables, and consumer testing companies into one place, the company’s CEO Ilya Abyzov said in a post on X.
“It’s a daunting responsibility. And we wouldn’t have taken it on if we didn’t think that OAI [OpenAI] cared as much as we do about privacy, safety, collaboration with physicians, and building something at an extremely high level of craft and consumer polish,” Abyzov said.
Abyzov previously co-founded another healthcare startup called Forward, which helped carry out patient visits via tech-enabled “CarePods.” But the company abruptly shut operations in 2024.
Torch’s four-person team will join OpenAI as part of the acquisition, the companies said.
OpenAI has been on a buying spree to beef up its AI capabilities, having hired Google’s Albert Lee last month to lead corporate development. The company also announced several enterprise-grade products for healthcare organizations. Some of its initial partners include large health systems like HCA Healthcare.
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