Intelerad’s $500M investment creates image-sharing network managing 80B images
Suggesting the move will significantly advance radiology’s specialtywide imperative to “ditch the disk,” Montreal-based Intelerad Medical Systems has announced it is acquiring a longtime competitor in the image-exchange space.
That would be Life Image of Newton, Mass.
Intelerad says the purchase creates the single largest medical image-exchange network in the world, following as it does not long after Intelerad’s acquisitions of PenRad Technologies earlier this year and Ambra Health last year.
In fact, the company tells Radiology Business that the approximately half-a-billion dollar investment mentioned in a Sept. 15 announcement “includes this acquisition of Life Image, Intelerad’s acquisition of Ambra, and the company’s R&D/additional spend and investment in image exchange.”*
In the announcement, Intelerad suggests the addition of Life Image accelerates the inevitable demise of the CD across medical imaging worldwide.
Mike Lipps, the company’s CEO, ties this aspect of the development to the #ditchthedisk drive promoted by the ACR, RSNA and SIIM.
“Today’s transaction reflects one of the most important steps we could imagine in reaching that vision,” Lipps says.
The announcement quotes Geraldine McGinty, MD, MBA, a past president of the ACR.
“As an advocate for radiology’s critical role in health equity, I am so encouraged by the announcement of this expanded network and its commitment to interoperability,” McGinty says. “Patients and physicians alike need an easy way to share images, and this is an important first step toward enabling vendors to work together as they should.”
Also weighing in is Adam Gale, the CEO of KLAS Research.
“While the future is unknown, we are hopeful this move to enhance the sharing of images will benefit all patients,” Gale says.
Morris Panner, president of Intelerad and former CEO of Ambra Health, closes out the quote board.
As independent companies, Intelerad and Life Image “competed, but we also pioneered some of the most important cross-vendor exchanges in the industry,” Panner says. “By combining, we are able to advance our vision and technology more rapidly and achieve our joint vision of a true nationwide, electronic image exchange network. We are just getting started.”
Full announcement here.
*Editor’s note: RB initially reported that Intelerad paid approximately $500 million to acquire Life Image. This version corrects the inaccuracy.
Dave P. has worked in journalism, marketing and public relations for more than 30 years, frequently concentrating on hospitals, healthcare technology and Catholic communications. He has also specialized in fundraising communications, ghostwriting for CEOs of local, national and global charities, nonprofits and foundations.