Israel-based Nanox has agreed to acquire deep-learning medical imaging analytics company Zebra Medical Vision in a deal valued at around $200m.
Under the deal, Zebra-Med will receive up to $100m as an upfront payment, as well as an additional $100m based on the achievement of certain milestones.
Established in 2014, the company offers imaging analytics platform, which will help healthcare institutions to detect patients at risk of disease and offer enhanced preventative treatment pathways to advance patient care.
Zebra-Med currently provides seven FDA-cleared and 10 CE-marked AI solutions for medical imaging. It also offers a 3D modeling solution for x-ray images used for orthopaedic surgery pre-operative planning.
The deal will help the company to expand its mission of diagnosing populations at scale with its AI-based solutions.
The acquisition of Zebra-Med will allow Nanox to support the firm’s medical device strategy by integrating its AI-based solutions into its imaging equipment.
In addition, the transaction will enable both firms to create the next generation of AI-enabled hardware and software devices.
Nanox chairman and CEO Ran Poliakine said: “The Nanox.ARC, together with Zebra-Med would move us toward our vision of deploying our systems.
“Our plan is to double down on Zebra-Med’s AI and cloud platform effort, strengthen the industry-leading team even further, and solidify Zebra-Med’s leadership position in the radiology space. This strategic move represents an end-to-end, globally-connected medical imaging solution.”
Separately, Nanox has also agreed to acquire US-based radiologist-run and operated full-service subspecialty radiology and teleradiology company USARAD and its related entity Medical Diagnostics Web (MDW) for $30m. The deal consists of $21m of Nanox shares and $9m in cash.
With more than 300 US-certified radiologists in its organisation, USARAD will offer Nanox immediate access to trained radiologists.
Both deals are subject to satisfaction of the conditions to closing in the definitive agreements, regulatory approvals, and other customary conditions.
