Bayer, a German multinational pharmaceutical and biotechnology company, announced the acquisition of Blackford Analysis, a provider of AI-powered medical imaging solutions for radiologists.
The terms of the acquisition were not disclosed.
Blackford and Bayer’s business partnerships and investments started in 2019 when Blackford was among the startups that were selected for Bayer’s G4A Digital Health Partnerships Program.
Commenting on the acquisition, Stefan Oelrich, Member of the Board of Management, Bayer and President of Bayer’s Pharmaceutical Division, said: “Adding Blackford and its AI technology to our radiology portfolio secures Bayer an excellent position in the fastest growing segment within the overall global radiology industry.”
“This acquisition complements our comprehensive radiology portfolio and nourishes our engagement to drive innovation in digital health. We are pleased to join forces with Blackford and their exceptional team to optimally utilize our combined expertise in healthcare technology with the aim to deliver true value to radiologists and their teams for the benefit of their patients,” added Stefan Oelrich.
Blackford will continue to operate as an independent organization. Commenting on the M&A news, Ben Panter, CEO of Blackford Analysis, said: “Blackford exists to improve the lives of patients and populations by unlocking the adoption and benefits of medical imaging AI. We investigated many routes to scale our business to deliver our mission and were delighted by Bayer’s invitation to deepen our partnership while continuing to operate independently based on Bayer’s well-established arm’s length model.”
“Combining our knowledge and experience as one of the leading platform providers in the industry with Bayer’s advanced radiology portfolio will enable us to provide solutions to deliver ongoing clinical value to radiologists and their teams,” added Ben Panter.
Medical imaging technology startups
More than 100+ medical imaging technology companies have been acquired to date, according to our M&A database. Notable M&As in the medical imaging sector include:
Thoma Bravo, a private equity firm, acquired Circle Cardiovascular Imaging, a provider of AI-guided cardiac imaging and reporting solutions, for an undisclosed amount.
GE Healthcare, a global medical technology company, acquired BK Medical, a provider of real-time medical imaging and surgical interventions solution, for $1.45 billion.
Intelerad Medical Systems, a medical imaging software provider, acquired Ambra Health, a medical imaging software company, for more than $250 million, according to Bloomberg.
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