Hexarad Secures £11.2 Million in Growth Funding for Radiology Platform
Hexarad, a radiology platform based in London, has successfully closed a £11.2 million growth round with reinvestment from existing shareholders, led by Swiss-based growth equity firm MTIP. The company provides teleradiology services and software to the NHS and imaging centers in the UK, Ireland, and Saudi Arabia.
Farzana Rahman, cofounder and chief executive at Hexarad, expressed excitement about the investment, stating that it would support the firm’s international expansion efforts. She emphasized Hexarad’s commitment to addressing the global issue of insufficient radiologists to handle the increasing number of scans.
Founded in 2016 by radiologists, Hexarad combines clinical expertise with cutting-edge technology to deliver effective solutions. The company’s senior leadership team’s extensive clinical experience enables them to develop innovative healthcare technology tailored to meet industry needs.
MTIP investment partner Katrin Vatiska commended Hexarad’s founding team and expressed enthusiasm for the company’s future growth. Foresight Director Matt McLoughlin highlighted Hexarad’s impact on patient care through its technology platform and clinically-led approach.
The rollout of Hexarad’s OptiRad solution at West Hertfordshire Teaching Hospital NHS Trust and its success in reducing diagnostic waiting times at North West Anglia NHS Foundation Trust demonstrate the platform’s effectiveness in improving patient care.
In parallel developments, deepc GmbH acquired medical imaging software solution Osimis Platform to enhance its AI infrastructure for radiology, further emphasizing the importance of technological advancements in the healthcare sector.
