AssistIQ

About AssistIQ

AssistIQ is a Montreal-based company, founded in 2021, that operates in the healthcare technology sector, focusing on supply chain management for hospitals and surgical centers.

The company's inception traces back to Dr. Moishe Liberman, a thoracic surgeon at the Centre Hospitalier de l'Université de Montréal (CHUM), who observed significant waste from disposable supplies in operating rooms. Dr. Liberman initiated a study demonstrating that real-time cost awareness could reduce surgical supply costs by over 20% without affecting patient outcomes. Recognizing the prototype's scalability limitations, he collaborated with a team of experienced software entrepreneurs—Lisa Israelovitch (CEO), Mundeep Minhas (CPO), and Thierry Wong (CTO)—to establish AssistIQ in September 2021. This founding team had a history of working together, with Israelovitch and Wong having previously co-founded the SaaS travel software Umapped, where Minhas led mobile platform development.

AssistIQ targets the substantial costs associated with disposable medical supplies, which are often the largest variable expense for hospitals after wages. The business addresses inefficiencies in hospital supply management where a lack of accurate data on product usage leads to waste and lost revenue. The company provides a software-as-a-service (SaaS) platform to health systems, generating revenue through this subscription model. Its clients include academic and community hospitals, with notable partnerships including the CHUM, Northwell Health in New York, and Owensboro Health in Kentucky.

The core of AssistIQ's offering is an AI-powered platform that uses computer vision to automate the tracking of surgical and procedural supplies. The flagship product, AIQ Capture, utilizes a tablet camera to identify supplies and implants as they are used, eliminating manual processes like barcode scanning and paper logs. This system boasts a recognition rate of over 98% and references the AIQ Supply Cloud, a database of over four million products. The platform provides real-time visibility into supply consumption, which helps hospitals improve charge capture, reduce waste by up to 25%, and decrease clinical documentation time. It integrates with existing hospital systems like Electronic Health Records (EHRs), such as Epic, and Enterprise Resource Planning (ERP) tools to provide actionable data for clinical, financial, and supply chain teams.

The company has secured significant funding, including a $2.5 million CAD seed round in 2023 and an $11.5 million Series A round in 2025, led by Battery Ventures. This capital is being used to further product development and expand its presence in hospitals across North America.