Imaging disrupter Nanox closes $200M-plus in deals to purchase AI firm, teleradiology outfit
Nanox has closed more than $200 million in deals to purchase an artificial intelligence firm and teleradiology outfit, the publicly traded imaging company announced Monday.
Fellow Israeli firm Zebra Medical Vision will fetch $110 million at closing, paid in common shares of Nanox’s stock, with $84 million more available through “various performance milestones.” Founded in 2014, Zebra now has eight medical imaging algorithms cleared in the United States and will now go by the name “Nanox.AI.”
Nanox is dishing out upward of $30 million in stock (including incentives) to acquire teleradiology firm USARad and companion company Medical Diagnostics Web, an online marketplace for connecting imaging facilities with radiologists. The latter is based in Florida, founded 12 years ago and employs 300 physicians working in all 50 states.
The acquirer has been working to rollout a novel X-ray solution it claims can offer high-end scans at a fraction of the footprint and cost. Nanox plans to integrate Zebra’s AI solutions into its imaging systems and use USARad’s stable of experts to address worldwide imaging disparities.
“We believe the solution we are building will streamline the medical imaging continuum—from image capture, through analysis to intervention by trained radiologists—and has the power to significantly improve access, reduce costs and enhance efficiency, thereby dramatically increasing the delivery of healthcare,” Chairman and CEO Ran Poliakine said in a statement.
Nanox first announced the acquisitions in August. The company has recently signed a series of deals to distribute its machines. Those include an agreement with medical equipment distributor International Clinics Group, announced on Oct. 29, to deliver 350 Nanox.ARC systems in Chile, Bolivia and Peru.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.