Nanox Imaging is making two acquisitions that will help it better analyze medical data; expand the range of medical imaging devices, and address the shortage of trained radiologists.
The Neve Illan, Israel-based company signed an agreement to acquire Zebra Medical Vision, an artificial intelligence specialist, for $100 million with a potential for $100 million in milestone payments. Nanox also announced plans to acquire USARAD and its related company Medical Diagnostics Web for $30 million.
Both deals come as Nanox ends 2Q21 with cash, cash equivalents, and marketable securities of $193.4 million.
Kibbutz Shefayim, Israel-based Zebra Medical Vision’s imaging analytics platform allows healthcare institutions to identify patients at risk of disease and offer improved preventative treatment pathways to advance patient care. Zebra Medical Vision was founded in 2014 by Elad Benjamin, Eyal Gura, and Eyal Toledano, and has raised $52 million. Included in the firm’s product arsenal are seven FDA-cleared solutions and 10-CE-marked AI solutions for medical imaging.
USARAD operates a network of 300 radiologists across health centers, urgent cares, and other providers.
Nanox also said it has submitted a 510(k) application for the first version of its multi-source Nanox. ARC, a radiology software platform designed to streamline operations and analytics.
“The global shortage of trained radiologists represents a significant bottleneck in the imaging process,” Ran Poliakine, chairman and CEO of Nanox, said in a release. “The Nanox.ARC, together with the acquisitions of Zebra Medical Vision and USARAD, if consummated, would allow us to support our systems with a large network of radiologists empowered with highly advanced AI algorithms. This end-to-end, globally-connected medical imaging solution will allow for the rapid interpretation of medical images into actionable medical interventions and would also represent a significant step toward our vision of true population preventive health care.