What Lucida Medical does

Lucida Medical is a Cambridge-based healthtech company founded in 2019 that develops Pi (Prostate Intelligence), a CE-marked AI medical-device software for prostate cancer detection from MRI scans. Pi uses deep learning models to automatically segment the prostate and suspicious lesions, generate patient- and lesion-level risk scores, and produce structured template reports; the latest release integrates PSA density and PI-RADS assessments into a single combined risk score with an accept-or-revise segmentation workflow. The core technology was trained and externally validated on 1,046+ NHS patient MRI scans across 8 UK NHS trusts, demonstrating 95% sensitivity and 67% specificity (AUC 0.91) for clinically significant prostate cancer across multiple scanner vendors, models, and field strengths.

The company monetises Pi via subscription-based SaaS licensing to NHS hospital trusts and Cancer Alliances in the UK, with international reach through PACS/integrator platform partnerships (Sectra Amplifier Marketplace, Blackford, DeepC, Ferrum Health) and regional distributors (K2Ai in Israel, HealthCare Konnect in Switzerland/North Africa, Aplicaciones Tecnológicas in Spain). It serves radiologists, urologists, and multidisciplinary cancer teams, addressing radiologist shortages (30% UK shortfall, projected to 40% by 2028), diagnostic delays (2–3 months), missed cancers on MRI (up to 10%), and unnecessary biopsies (~20% reduction potential with Pi). Pi integrates with PACS via the GE Healthcare Edison Open AI Orchestrator and exports lesion segmentations in RTSTRUCT format for fusion-biopsy systems such as Koelis Trinity.

Lucida Medical has raised approximately £11.25M+ across grants and equity rounds from investors including IW Capital, XTX Ventures, Macmillan Cancer Support, SBRI Healthcare, and Innovate UK. The product is CE-certified in the UK/EU and is pursuing US FDA approval funded by the March 2026 round. The leadership team combines AI/medical-device engineering depth with elite clinical credibility, including Prof Anwar Padhani (Co-Chair of the PI-RADS Steering Committee) as CMO, Prof Evis Sala as Co-Founder and Medical Advisory Board Chair, and Dr David Tuch (ex-Novartis, ex-GE Healthcare) as Board Chair.

Name

Lucida Medical

Legal name

Lucida Medical Ltd

Website

https://lucidamedical.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Lucida Medical is a Cambridge-based healthtech company that develops Pi, a CE-marked AI medical-device software for prostate cancer detection from MRI scans, sold via SaaS subscriptions to NHS trusts and international health systems through direct sales and PACS-integrator partnerships.

Ownership category

akta.pro rank

Product category

AI Radiology Diagnostics Software

NAICS

Software Publishers (5132)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

SaMD – Imaging & Signal Analysis (AI/ML) (HLACANAG)

akta.pro secondary industries

Medical Imaging AI (HDAAAEAH), Radiology AI, CAD & Advanced Visualization Software (HLAHABAJ), AI Orchestration & Imaging Analytics Platforms (Model Management/Triage) (HLACALAG), SaMD – Digital Biomarkers & Algorithmic Endpoints (HLACANAF)

Keywords

• AI medical imaging software
• Prostate cancer diagnostics
• MRI analysis platform
• Radiology decision support
• Medical device SaaS

Headquarters

HQ city

Cambridge

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Others

Revenue model

1. AI Diagnostic Software Subscription (Pi SaaS): Subscription-based SaaS licensing of the Pi (Prostate Intelligence) AI diagnostic software to NHS hospitals, health systems, and international healthcare providers. CE-certified and deployed across NHS hospitals in the UK and EU. The software is offered through direct enterprise agreements with NHS trusts, through PACS/integrator partner platforms (Sectra, Blackford, DeepC, Ferrum), and through regional distribution partners (K2Ai, HealthCare Konnect, Aplicaciones Tecnológicas). Pricing is not publicly disclosed — quote-based enterprise sales. NHS procurement cycles and Cancer Alliance implementation programs support recurring revenue dynamics.

Go-to-market motion2 records

Distribution channels8 records

Marketing channels6 records

Core offering

Lucida Medical develops Pi (Prostate Intelligence), a CE-marked AI medical device software that analyzes prostate MRI scans to detect and diagnose clinically significant prostate cancer. The software performs automated prostate and lesion segmentation, generates risk scores, produces visual heat maps, and creates structured template reports that support radiologists and urologists in clinical decision-making across the prostate cancer diagnostic pathway.

Product overview

Lucida Medical offers a single unified product, Pi (Prostate Intelligence), an AI-powered medical device software for prostate cancer diagnosis from MRI scans. Pi analyzes prostate MRI to automatically segment the prostate organ and suspicious lesions, generate risk scores, and produce template reports that support radiologists in detecting clinically significant prostate cancer or identifying patients who can avoid unnecessary biopsies. The system has been validated across multiple NHS hospitals and is CE-marked for use in the UK and EU. Recent updates integrate PSA density and PI-RADS assessments for enhanced clinical decision support.

Differentiator

Problem solved

Functional benefit

Brands

• Pi (Prostate Intelligence): AI-powered diagnostic software for prostate cancer detection from MRI scans. CE-certified medical device that provides automated prostate and lesion segmentation, risk scores, and clinical decision support for radiologists.

Products and services

• Pi (Prostate Intelligence) CE-marked AI medical device software that analyzes prostate MRI scans to assist prostate cancer diagnosis. Pi automatically segments the prostate and suspicious lesions, generates risk scores, and produces template reports to help radiologists detect clinically significant prostate cancer or rule out patients who do not need further investigation. Designed for radiologists, urologists, and NHS hospital trusts.
• Pi Next Generation Software Update Updated version of the Pi software platform that introduces an integrated risk score combining AI risk scores, PSA density, and PI-RADS assessments, along with an accept-or-revise workflow for AI-generated lesion segmentations before PACS export.

Quantifiable outcome

• 95% sensitivity for clinically significant prostate cancer (Gleason grade >=3+4) on external NHS validation data
• +9 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability5 records

Feature6 records

Partnerships

13 partnerships are on record, tiered core, important, key and regional.

• KoeliscoreTechnology or Integration · 1 November 2025Koelis, led by founder and CEO Dr Antoine Leroy, provides the Trinity MRI/Ultrasound fusion guidance system using proprietary Organ Based Tracking technology. Combined Pi AI prostate MRI analysis with Koelis 3D ultrasound fusion guidance for the first integrated prostate fusion biopsy at Hampshire Hospitals NHS Foundation Trust. The integration streamlines the workflow between radiology and urology.
• K2AiimportantStrategic or Co-development Partner · 1 November 2025Healthcare technology provider based in Israel. Strategic partnership to integrate Lucida Medical's AI solution into clinical workflows in Israeli healthcare institutions. K2Ai's CEO Kfir Kaper stated the partnership aligns with their mission to bring physicians access to the most innovative technologies worldwide. K2Ai works closely with healthcare institutions across Israel to deploy Pi at key stages of the diagnostic process.
• Hardian HealthkeyImplementation/ SI/ Consulting Partner · 1 July 2025Independent evaluator engaged to assess the clinical performance and health economic impact of Pi deployment in NHS hospitals under the SBRI Healthcare program. Dr Hugh Harvey, Managing Director and Project Lead at Hardian Health, commented on the potential for earlier diagnosis and cost savings.
• University of CambridgecoreStrategic or Co-development Partner · 1 February 2024Academic partner and spin-out origin. Lucida Medical was co-founded in 2019 by Prof Evis Sala (then at University of Cambridge). Ongoing research collaboration including the PAIR-1 study and expansion of the Pi AI platform for prostate cancer care. Also a partner in the ReIMAGINE prostate imaging trial.
• Hampshire Hospitals NHS Foundation TrustcoreStrategic or Co-development Partner · 1 January 2024NHS trust and primary clinical research partner. Led the PAIR-1 study (Chief Investigator Dr Aarti Shah, Sponsor role). Ongoing clinical collaboration including fusion biopsy integration project, active surveillance support, and pilot site for Pi deployment. Professor Richard Hindley (Consultant Urologist) and Dr Aarti Shah (Consultant Radiologist) are key clinical investigators.
• SectracoreChannel Partner/ Reseller/ Distributor · 1 January 2024International medical imaging IT and cybersecurity company. Distribution agreement for Lucida Pi to be offered through the Sectra Amplifier Marketplace, greatly expanding availability to hospitals globally. Separate partnership for enterprise imaging integration supporting the fusion biopsy project at Hampshire Hospitals NHS Foundation Trust.
• BlackfordkeyChannel Partner/ Reseller/ Distributor · 1 January 2024AI platform providing healthcare professionals access to 120+ AI solutions. Integrating Lucida Medical's Pi into the Blackford Platform to offer healthcare providers advanced tools for prostate MRI analysis.
• DeepCkeyChannel Partner/ Reseller/ Distributor · 1 January 2024AI-focused operating system that brings multiple AI solutions including Pi under one intuitive user interface, broadening market reach for Lucida Medical.
• Ferrum HealthkeyChannel Partner/ Reseller/ Distributor · 1 January 2024AI platform for medical imaging covering a range of specialties including Pi, operating in the USA and internationally, providing additional channel for US and global market access.
• HealthCare KonnectregionalChannel Partner/ Reseller/ Distributor · 1 January 2024Medical software distributor focusing on Switzerland and North Africa. Offers local support and a shared platform to aid clinical workflows for Pi deployment in these regions.
• Aplicaciones TecnológicasregionalChannel Partner/ Reseller/ Distributor · 1 January 2024Spanish distributor (ATFISICA) offering quality AI solutions to help radiologists in clinical diagnostic imaging, building a comprehensive portfolio covering most organs and image acquisition techniques, with national technical support service for Pi in Spain.
• GE Healthcare (Edison Accelerator)coreTechnology or Integration · 1 January 2021Selected from 350 applicants to be one of 6 companies in GE Healthcare's Edison Accelerator programme in 2021. Worked with GE Healthcare's Edison Open AI Orchestrator to integrate Pi with EMRAD's radiology information system, PACS, and viewer, demonstrating seamless integration into radiologist workflows with data remaining inside NHS firewall.
• EMRAD (East Midlands Imaging Network)coreStrategic or Co-development Partner · 1 January 2021Pioneering organisation pooling radiology resources amongst 8 NHS trusts from across the East Midlands. Partnered with Lucida Medical and GE Healthcare for the Edison Accelerator service evaluation project, providing multi-site NHS data environment for Pi workflow integration testing.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Avenda Health: US-based AI company developing prostate cancer diagnostics and treatment planning (iQuest AI biopsy platform and focal laser ablation). Directly competes with Lucida in AI-enabled prostate cancer detection and is pursuing FDA-cleared prostate cancer AI — a primary US competitive threat.
• ArteraAI: US-based company developing multimodal AI biomarkers for prostate cancer (ArteraAI Prostate Test) that integrates clinical and pathology data to predict treatment outcomes. A direct competitor in prostate cancer AI decision support, with established US payer reimbursement.
• KOELIS: France-based developer of the Trinity MRI/ultrasound fusion biopsy system with proprietary Organ-Based Tracking. Already a Lucida technology partner, but its Prostate Suite and AI-driven biopsy planning overlap directly with Pi's biopsy-planning workflow on the same target customers (urologists, hospitals).
• Quibim: Spain-headquartered medical imaging AI company with a portfolio of radiology AI tools including prostate MRI analysis. Comparable as a European-based imaging AI vendor selling multi-modality AI into NHS and EU hospitals via PACS integrator channels.

Emerging players

• Paige.AI: AI company focused on digital pathology and cancer diagnostics, with FDA-authorized prostate cancer detection products. An emerging player with partial overlap — both target prostate cancer AI, but Paige's primary strength is pathology rather than MRI imaging.
• DeepHealth (RadNet): AI radiology subsidiary of RadNet focused on prostate, breast, and lung cancer detection from medical imaging. An emerging player with overlapping prostate AI focus and a US delivery model that may compete for the same hospital and imaging-center customers.
• Ibex Medical Analytics: Israel-based AI company specializing in cancer diagnostics (primarily digital pathology) with deployments across NHS and EU hospitals. An emerging player with adjacent cancer-AI capability, similar European health-system go-to-market, and overlapping investor ecosystems.

Broad incumbents

• Siemens Healthineers (AI-Rad Companion): Global imaging vendor with AI-Rad Companion platform including prostate MRI capabilities, embedded across a vast installed base of hospital PACS and MRI scanners. A broad incumbent whose bundled AI offerings compete with best-of-breed tools like Pi on procurement decisions.
• GE Healthcare (Edison): Lucida's integration partner (Edison Open AI Orchestrator) and a broad incumbent selling radiology AI to health systems globally. Competes by offering its own multi-organ AI portfolio and Edison ecosystem, potentially displacing independent vendors like Lucida over time.
• Philips (IntelliSpace AI): Global imaging and informatics vendor offering radiology AI orchestration platforms and prostate imaging solutions to large hospital networks. Comparable broad incumbent competing for the same enterprise AI procurement budgets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/LucidaMedical
• LinkedInlinkedin.com/company/lucida-medical

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds6 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lucida Medical