This landmark stock-for-stock acquisition in the AI in medical imaging space combines both hardware, AI software, and secured cloud capabilities to create a leading Israeli medical device platform.
KIBBUTZ SHEFAYIM, Israel–(BUSINESS WIRE)–#AI—Zebra Medical Vision, the deep-learning medical imaging analytics company, announces it has entered into an agreement to be acquired by Nanox (NASDAQ: NNOX) by a merger transaction, the innovative medical imaging company, in a deal valued at up to 200 million USD. 100 million USD will be paid upfront and up to additional 100 million USD, subject to certain deductions, will be paid upon achievement of certain milestones. As a result of the acquisition, the medical imaging pioneers will leverage Zebra-Med’s industry-leading team, cutting-edge AI technology and cloud capabilities, and unprecedented regulatory framework to form the next-generation medtech juggernaut.
The agreement puts Zebra-Med on track to expand its mission of diagnosing populations at scale with its AI-based solutions, enabling IDNs and commercial payers to detect and treat patients at risk for chronic conditions while accurately adjusting their covered population risk. In support of broader adoption of AI and reimbursement policies, Zebra-Med has managed to bring value to patients and healthcare systems by attaining an industry-first CPT code for its AI-based product together with the American College of Radiology (ACR). In addition, Zebra-Med will support Nanox’s medical device strategy by embedding its AI solutions into its imaging equipment, making medical imaging for diagnosis more easily accessible and affordable across the globe—especially for under-resourced communities—delivered using a scalable cloud infrastructure.
“Zebra Medical Vision has always operated with the goal of expanding the use of AI in medical imaging to improve health outcomes for patients worldwide,” says Zohar Elhanani, CEO of Zebra Medical Vision. “A trusted, innovative, partner like Nanox can boost our capabilities while sharing our vision for AI which we believe can be best served through the combination of a groundbreaking imaging equipment technology, AI solutions, delivered over state of the art cloud infrastructure. Screening populations to detect and treat chronic disease early on, while establishing new care pathways, has significantly improved treatment outcomes. We are thrilled to be taking the helm of the population health transformation in healthcare.”
“Expanding access to medical imaging via widespread deployment of the Nanox.ARC solves one of the obstacles to achieving true population health management,” stated Ran Poliakine, Chairman and Chief Executive Officer of Nanox. “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.”
Read more on Zebra-Med’s blog: https://zebramedblog.wpcomstaging.com/2021/08/10/the-zebra-has-changed-its-stripes-but-the-mission-remains-the-same/
About Zebra Medical Vision:
Zebra Medical Vision’s imaging analytics platform allows healthcare institutions to identify patients at risk of disease and offer improved preventative treatment pathways to advance patient care. The company is funded by Khosla Ventures, Marc Benioff, Intermountain Investment Fund, OurCrowd Qure, Aurum, aMoon, Nvidia, J&J and Dolby Ventures. Zebra Medical Vision has raised $52 million in funding to date, and was named a Fast Company Top-5 AI and Machine Learning company. Zebra-Med leads the way in AI FDA cleared products, and is installed in hospitals globally, from Australia to India, Europe to the U.S, and the LATAM region.
About Nanox:
Nanox, founded by the serial entrepreneur Ran Poliakine, is an Israeli corporation developing a commercial-grade digital X-ray source designed to be used in real-world medical imaging applications. Nanox believes that its novel technology could significantly reduce the costs of medical imaging systems, and plans to seek collaborations with world-leading healthcare organizations and companies to provide affordable early detection imaging services for all. For more information please visit www.nanox.vision.
Contacts
Media:
Alona Stein
ReBlonde for Zebra Medical Vision
alona@reblonde.com
