Nanox has completed its previously announced acquisition of medical imaging analytics company Zebra Medical Vision, now operating as Nanox.AI, in an all-stock deal valued at around $110m at closing.
The transaction also includes a payment of $84m in stock that is tied to the achievement of certain performance milestones.
Concurrently, Nanox wrapped up two further acquisitions, namely teleradiology services provider USARAD and MDWEB (MDW), a decentralised marketplace connecting radiologists with imaging facilities.
These deals included a payment of $20m in stock along with up to $10m in stock and cash on the meeting of various performance milestones.
Nanox signed an agreement to acquire Zebra Medical Vision and a binding letter of intent to takeover USARAD and MDW in August.
The acquisitions will enable medical imaging technology company Nanox to support its systems with a network of radiologists who will have access to advanced artificial intelligence (AI) algorithms.
At the time of the deal announcements, Zebra Medical Vision had seven US FDA-approved and ten CE-marked AI solutions for medical imaging.
It also introduced a 3D modelling solution for x-ray images. This solution is used for pre-operative planning in orthopaedic surgery.
Nanox CEO and chairman Ran Poliakine said: “The closing of these acquisitions is another step on our path to democratising the delivery of healthcare.
“Integrating AI-powered imaging analysis and a global teleradiology solution with our groundbreaking Nanox.ARC technology takes us one step closer to creating a global, connected medical imaging solution with the potential to meaningfully expand delivery of healthcare.
“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.”