3 radiology tech companies make Deloitte’s ‘Fast 500’ with revenue growth of 770% or more

Three radiology tech companies have made Deloitte’s 2024 “Fast 500” list with revenue growth of 770% or more. 

San Francisco-based artificial intelligence firm Rad AI grabbed the highest ranking, at #19 on the list, achieving 8,710% revenue growth between 2020 and 2023. New York-headquartered AI provider Aidoc landed at #86 with 1,560% revenue growth during the same period, while Toronto image-sharing startup PocketHealth was #152 with 770%. 

This is the 30th year of the consulting firm’s North America Technology Fast 500, recognizing the most promising companies in media, telecommunications, life sciences, fintech, and the energy tech sector. Winning companies achieved revenue growth during the last three years of between 201% to 153,625% led by biopharmaceutical firm TG Therapeutics. 

"This year's winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress,” Christie Simons, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, said Nov. 21. 

Here’s a quick look at the three radiology-related winners for 2024: 

152. PocketHealth

Founded by brothers Harsh and Rishi Nayyar in 2016, PocketHealth is a “connected care company” offering image exchange and intelligent patient engagement solutions. 

Its products are now deployed by over 800 hospitals and imaging centers in North America, with 1.5 million patients using the platform to engage with their diagnostic imaging records. PocketHealth has seen “remarkable” momentum in 2024, including capping a $33 million Series B financing round, expanding its North American team to over 140 employees and achieving a company “record” number of launches in the top 100 U.S. health systems. 

“This achievement in growth reflects how transformative technology can be in improving healthcare for both patients and providers,” Rishi Nayyar, co-founder and CEO, said in a statement. “Over the past few years, we’ve seen the profound impact that patient-centered imaging solutions can have on both providers and patients, and we’re excited to continue our work in creating meaningful change across the healthcare landscape.”

86. Aidoc

Founded by Israeli technology expert Elad Walach in 2016, Aidoc helps analyze and aggregate medical data, enabling radiologists and their teams to “operationalize the unexpected.” 

It offers a unified AI platform called aiOS and has the most U.S. Food and Drug Administration clearances (17) in clinical AI, with solutions covering about 75% of patient populations. Aidoc’s offerings span cardiology, neurology and radiology, with algorithms to aid in everything from aortic dissection to incidental pulmonary embolism, intracranial hemorrhage and rib fractures. Over 1,000 medical centers use Aidoc, which has 400 employees and has raised $240 million across four investment rounds. 

“Making Deloitte's Technology Fast 500 for the second consecutive year is more than an honor—it’s a powerful reminder of how critical clinical AI has become in healthcare today. Healthcare is notoriously slow to adopt new technologies, but clinical AI is proving to be the exception,” Walach, who is based in Miami, said in a LinkedIn post. “We’re inspired by the progress we’ve made alongside our partners and excited about the road ahead,” he added later.

19. Rad AI

Co-founded by Jeff Chang, MD, MBA, the “youngest U.S. radiologist in history,” in 2018, Rad AI’s tech helps physicians save time, reduce burnout and improve care. 

Its products include Rad AI Reporting, which employs machine learning and generative AI to help radiologists create reports with “remarkable speed.” Rad AI Impressions, meanwhile, can automatically generate summaries from physicians’ dictated findings, while Rad AI Continuity helps close the loop for patients with incidental imaging findings. The “fastest growing radiologist-led AI company,” nearly 50% of all U.S. health systems and imaging practices now use its technology. Rad AI estimates that, across “tens of millions of radiology reports,” it has helped providers reduce the error rate by up to 47%. 

CEO Doktor Gurson attributed the steep revenue growth to strong partnerships with practices and health systems and a “relentless” focus on creating innovative solutions that address real-world clinical problems. 

“Our mission has always been to empower healthcare providers with AI solutions that reduce burnout, enhance efficiency, and advance patient care,” Gurson said in a statement shared Thursday. “This recognition by Deloitte not only highlights our growth but underscores our commitment to driving meaningful and lasting improvements in healthcare."

Also worth mentioning

Two more healthcare companies that are adjacent to radiology also made the list. Artera, a San Francisco precision medicine company developing AI tests for patients with localized prostate cancer, came in at #181 with 654% revenue growth between 2020 and 2023. The “multimodal AI biomarker test” leverages an algorithm that assesses digitals images from biopsies and other clinical data to predict whether cancer patients will benefit from certain therapies. 

And finally, PathAI came in at #420 with 260% revenue growth. The Boston-based company provides software and AI-enabled solutions for labs, research institutions, the biopharma industry and other stakeholders in pathology.