Nanox Buys Zebra Medical, MDWEB, USARAD; Rebrands as Nanox.AI

NANO-X IMAGING LTD completed 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.
 
Additionally, the company completed two strategic acquisitions: MDWEB, LLC., a decentralized marketplace connecting imaging facilities with radiologists, and USARAD Holdings Inc., a leading provider of teleradiology services, for approximately $20 million in stock and cash with up to $10 million more in additional stock and cash for the completion of various performance milestones.
 
“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 CEO 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.”
 
The 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 Nanox to support its systems with a network of radiologists empowered with highly advanced AI algorithms.
 
This end-to-end, globally connected medical imaging solution will allow for the rapid interpretation of medical images into actionable medical interventions and would also represent a significant step toward Nanox’s vision of true population preventive healthcare.