RadNet subsidiary DeepHealth acquires another artificial intelligence firm
RadNet Inc. has acquired another artificial intelligence firm.
The outpatient imaging center operator’s subsidiary, DeepHealth, is adding Kheiron Medical Technologies, which uses deep learning AI to help radiologists detect breast cancer. In an Oct. 22 announcement, RadNet said it believes London-based Kheiron’s Mia (Mammography Intelligent Assessment) is a “strong” addition to its suite of products.
“At DeepHealth, we are passionate about the meaningful role we can play in cancer detection,” Sham Sokka, PhD, chief operating and technology officer—who joined RadNet last year after spending nearly two decades with Philips—said in a statement. “The acquisition of Kheiron will further expand our portfolio of AI-powered diagnostic and screening solutions, enabling us to accelerate the introduction of our breast cancer solutions in Europe.”
Terms of the deal were not disclosed. Previously, Los Angeles-based RadNet acquired DeepHealth in 2020 for over $40 million, adding the company’s founder, radiologist and former Siemens Healthcare North America CEO Gregory Sorensen, MD, to its team. RadNet also acquired Dutch AI firms Quantib and Aidence in 2022 for a total of nearly $100 million.
DeepHealth’s current artificial intelligence arsenal includes Smart Mammo—cloud-native, end-to-end software for breast cancer diagnosis. Part of the platform is the Enhanced Breast Cancer Detection program, which charges women $40 to have AI read their mammograms. RadNet said in August that its Digital Health Division is expected to collect adjusted earnings at upward of $15 million this year, on revenue of up to $70 million.
Founded in 2016, Kheiron combines new deep learning methods and radiology insights to pinpoint malignancies in mammograms. Its solutions are aimed at boosting the efficiency, consistency and accuracy of radiologists. Kheiron’s Mia is cleared for commercial use in the European Union, delivering “double-reading quality with a single human reader.” UK and EU physicians deployed the product during the union’s first prospective evaluation of an AI breast screening tool, the two noted. They believe RadNet’s addition of Mia will complement DeepHealth’s offerings and “enrich its capabilities.”
“As part of DeepHealth, we will be able to give many more women a better fighting chance against breast cancer,” Peter Kecskemethy, PhD, CEO and co-founder of Kheiron, said in an announcement. “Together, we will be even better positioned to equip radiologists with the tools they need to detect even the most subtle lesions and further optimize breast cancer screening.”
Publicly traded on the Nasdaq (RDNT), RadNet bills itself as the leading provider of freestanding, fixed-site diagnostic services in the U.S. based on number of locations and annual imaging revenue. The company owns or operates 398 outpatient centers concentrated in Arizona, California, Delaware, Florida, Maryland, New Jersey, New York and Texas and has over 10,000 employees. RadNet also hired private equity veteran Kees Wesdorp, PhD, as CEO of its Digital Health Division in September.
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.