Business
Nanox Completes Merger with Zebra Medical Vision, LTD., Re-brand as Nanox.AI, and Acquisition of MDWEB, LLC., and USARAD Holdings, Inc.
Strategic transactions complementary to Nanox deep learning technology and the Nanox.ARC System help advance the Company vision to democratize healthcare
About this update from Nano-x Imaging Ltd
[{"type":"text","content":"\nStrategic transactions complementary to Nanox deep learning technology and the Nanox.ARC System help advance the Company vision to democratize healthcare globally\n\n NEVE ILAN, Israel--(BUSINESS WIRE)--\nNANO-X IMAGING LTD (\"Nanox\" or the \"Company,\" Nasdaq: NNOX), an innovative medical imaging technology company, today announced the completion of its previously announced merger with Zebra Medical Vision, Ltd., a deep-learning medical imaging analytics company, in an all-stock deal valued at approximately $110 million at closing, with up to $84 million more in additional stock for the completion of various performance milestones. Zebra is now operating as Nanox.AI.\n\nAdditionally, the Company announced the completion of two strategic acquisitions: MDWEB, LLC. (“MDW”), a decentralized marketplace connecting imaging facilities with radiologists, and USARAD Holdings, Inc., a leading provider of teleradiology services, for approximately $20.0 million in stock and cash with up to $10.0 million more in additional stock and cash for the completion of various performance milestones.\n\n“The closing of these acquisitions is another step on our path to democratizing 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,” said Ran Poliakine, Chairman and Chief Executive Officer of Nanox. “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.”\n\nThe global shortage of trained radiologists and radiologist work overload, represents a significant bottleneck in the imaging process. The Nanox.ARC, together with the acquisitions of Zebra Medical Vision, that holds a large privately held diverse data repository and a strong regulatory framework including 8 FDA clearances alongside USARAD, with an extensive global network of over 300 certified radiologists, and the assets of its affiliated company, Medical Diagnostics Web, will potentially allow N...