Business
Nanox Enters into Acquisition via Merger Agreement with Zebra Medical Vision Ltd. and Announces Entry into Binding Letter of Intent with USARAD Holdings Inc.
Upon the consummation of the acquisition, Nanox and Zebra Medical Vision anticipate that their mutual goal of global scanning to protect one’s health will
About this update from Nano-x Imaging Ltd
[{"type":"text","content":"\nUpon the consummation of the acquisition, Nanox and Zebra Medical Vision anticipate that their mutual goal of global scanning to protect one’s health will put them in the position to potentially become the next generation AI-enabled medical device leader.\n\nNanox is also entering into a binding letter of intent to acquire USARAD, a teleradiology company that provides teleradiology services in all 50 U.S. states.\n\n NEVE ILAN, Israel--(BUSINESS WIRE)--\n\nNanox Enters into Acquisition via Merger Agreement with Zebra Medical Vision Ltd. and Announces Entry into Binding Letter of Intent with USARAD Holdings Inc. with the Goal of Creating an Integrated, Globally Connected End-to-End Radiology Solution and Population Preventive Health Platform\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210810005555/en/https://www.zebra-med.com/\nNANO-X IMAGING LTD (\"Nanox\" or the \"Company,\" Nasdaq: NNOX), an innovative medical imaging company, announced entry into two agreements intended to create a globally connected, end-to-end radiology solution. The Company announced that it has entered into an agreement to acquire a leading medical artificial intelligence (AI) developer Zebra Medical Vision for a total of $100 million upfront, and up to another $100 million tied to achievement of specific milestones, all to be paid in Nanox shares. Nanox also announced today that it has entered into a binding letter of intent to acquire USARAD and its related company, Medical Diagnostics Web, or MDW. USARAD operates a global network of 300 radiologists. Total consideration for USARAD and MDW is $30 million, comprising $21 million of Nanox shares and $9 million in cash.\n\nThe acquisition of Zebra Medical Vision is anticipated to fuel both companies’ shared goal of forming the next generation of AI-enabled hardware and software devices, which is expected to set a new standard in the medical devices sector. If these proposed strategic acquisitions are consummated, Nanox will be in the position to gear up towards addressing three major international shortages on a global scale: the shortage of medical imaging devices, radiologists, and connectivity between countries and societies in analyzing medical data.\n\nFounded in 2014, Zebra Medical Vision (“Zebra-Med”) is a pioneer in the AI medical ...