RadNet Inc. (NASDAQ: RDNT), which runs a network of 350 outpatient imaging centers, has purchased two Dutch radiology artificial intelligence companies: Aidence Holding B.V., which focuses on pulmonary nodule management and lung cancer screening; and Quantib B.V., which focuses on prostate cancer and neurodegeneration.
Aidence and Quantib will join RadNet’s AI division, formed after the earlier acquisition of DeepHealth in 2020, which to date has focused on breast cancer screening and detection.
Los Angeles-based RadNet's markets include California, Maryland, Delaware, New Jersey, New York, Florida and Arizona. Together with affiliated radiologists, and inclusive of full-time and per-diem employees and technicians, RadNet has a total of approximately 8,300 employees.
“We remain convinced that artificial intelligence will have a transforming impact on diagnostic imaging and the field of radiology,” said Howard Berger, M.D., chairman and CEO of RadNet, in a statement. “We are very pleased to expand our portfolio of AI software into two other cancer screening domains. With the addition of Aidence and Quantib, we will now have effective screening solutions for the three most prevalent cancers. We believe that large population health screening will play an important role for health insurers, health systems and large employer groups in the near future. As the largest owner of diagnostic imaging centers in the United States, RadNet has relationships that can serve to make large-scale screening programs, similar to what mammography is for breast cancer screening, a reality.”
Founded in 2015, Aidence’s first commercialized product, Veye Lung Nodules, is an AI-based solution for lung nodule detection and management. It analyzes thousands of CT scans each week, with customers in seven European countries including France, the Netherlands and the United Kingdom. The solution was submitted in December for FDA 510(k) clearance in the United States.
Founded in 2012, Quantib has multiple AI-based solutions with both CE mark and FDA 510(k) clearance. All of Quantib’s solutions are deployed through Quantib’s AI Node platform, which allows for efficient workflow integration and more accelerated regulatory clearance of future products. In addition to Quantib Prostate, Quantib Brain and Quantib Brain ND, Quantib is in advanced development of an AI algorithm for MRI of the breast, which could be complementary to Deep Health’s solutions for mammography.
“Our vision is that data is key to improving the prevention, management and treatment of disease,” said Mark-Jan Harte, co-founder and CEO of Aidence, in a statement. “As an outgrowth of operating 350 facilities in some of the busiest and most populous U.S. markets and performing close to nine million exams per year, RadNet’s database of images and radiologist reports is one of the largest and most diverse we have identified. I see unprecedented opportunities to further scale adoption, leveraging RadNet’s capabilities.”
