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RadNet closes two acquisitions, Aidence and Quantib

by Gus Iversen, Editor in Chief | January 25, 2022
Artificial Intelligence Business Affairs
RadNet has closed its buys of a pair of unrelated Dutch radiology AI firms — Aidence and Quantib. No financial terms were disclosed.

Aidence focuses on clinical solutions for pulmonary nodule management and lung cancer screening with its first commercial product, Veye Lung Nodules, a CE-marked AI-based lung-nodule detection and management system. Veye, which can handle thousands of CT scans a week, already has customers in seven European countries. It has been submitted for FDA 510(k) clearance.

Quantib, with clients in over 20 countries, focuses on MR-based AI solutions, running on its AI Node platform, for prostate cancer and neurodegeneration. It has a number of CE marked, FDA 510(k) cleared applications, including Quantib Prostate, Quantib Brain and Quantib ND.

Besides Quantib Brain and Quantib Brain ND, the company is in “advanced development of an AI algorithm” for MR breast screening, which would fit well with DeepHealth's mammography solutions, a firm acquired in 2020 by RadNet.

“With the addition of Aidence and Quantib, we will now have effective screening solutions for the three most prevalent cancers,” RadNet Chairman and CEO Dr. Howard Berger, said in a company statement.

Besides lung cancer screening with CT, which he called “dramatically underutilized,” he advised that going forward, lung screenings “will play an important role for those who suffered from COVID-19 and who may have a requirement to monitor longer-term issues with their lungs.”

“We believe the amount of chest CTs could significantly increase if high-risk patients and patients with long-term COVID-19 effects have access to low-cost, effective screening programs that we believe Aidence’s solutions can facilitate.”

The Quantib acquisition will further RadNet's ability to provide prostate screening.

“The opportunity to create a lower-cost, more accurate service,” he suggested, “allows for a conversation about creating large-scale screening programs for appropriately-qualified male patient populations, akin to how mammography is utilized today to detect and manage breast disease in women.”

Combining with RadNet, noted Mark-Jan Harte, co-founder and CEO of Aidence “will accelerate our growth and innovation pipeline to serve clinicians with automated and integrated AI solutions for oncology. Our vision is that data is key to improving the prevention, management and treatment of disease.”

Quantib CEO Arthur Post Uiterweer also noted the scale brought by RadNet to his firm's efforts. “We believe our AI Node technology and substantial clinical experience from serving our customers can improve the rate at which future AI innovations are shared across RadNet’s hundreds of locations and the radiology industry at large.”

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