4D Medical has signed an agreement to acquire Imbio, a US-based provider of lung and heart artificial intelligence (AI)-driven technology.
Under the binding agreement, 4D Medical will acquire Imbio for a $25m upfront purchase price, along with a contingent earnout, including one tranche of up to $10m in 2024 and two tranches of up to $5m in 2025.
4DMedical, upon securing shareholder approval, plans to settle contingent earnout payable through the issue of its new shares.
Imbio focuses on providing structural analysis to deliver visual qualitative and quantitative evaluation of lung and heart anatomy.
4D Medical said that the acquisition of Imbio’s suite of diagnostic products, including four offerings cleared by the FDA, will expand its product offering to clinicians.
4DX founder and CEO Andreas Fouras said: “I am extremely excited to join forces with the incredibly talented and committed Imbio team. Imbio’s market-leading suite of AI solutions provides life-changing insights from CT scans and perfectly complements 4DMedical’s functional imaging technology.
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“We now offer a comprehensive cardiothoracic imaging solution set to providers and their patients. Importantly, the Imbio acquisition also significantly boosts our capacity to improve the respiratory health of Veterans, especially for those impacted by toxic exposures during service.”
The acquisition forms part of 4DX’s strategy to strengthen its position in the lung diagnostics market while accelerating the commercialisation of its XV Technology in the US.
Imbio’s portfolio provides validated and market-leading insights.
4DMedical will combine this toolkit with its technology and automated point-of-care radiological workflows to transform lung disease diagnosis by making it more objective, individualised and accessible.
With the combined technologies, the standard-of-care chest CTs are expected to be transformed into a comprehensive cardiothoracic analysis, delivering functional, structural and risk-based analysis for heart and lung diseases immediately.