EKF Diagnostics is raising $25m (£17.6m) to float one of its divisions in the US, then use the funds to develop artificial intelligence tracking kidney disease.

The Sunday Times reports EKF hopes the new company can help it secure deals with big hospital groups across the US.

RenaltyxAI will mine data from medical records and biobanks to help doctors predict which patients with type one and two diabetes will go on to develop chronic kidney disease, enabling physicians to intervene early. If untreated, diabetic kidney disease can progress to end stage renal disease.

Julian Baines, chief executive of EKF, will become chairman of the new company. He is hoping to inject cash into the company within the next six months.