Sirona Medical, a company developing an 'operating system' for digital radiology, has acquired Nines ' a company that has developed FDA-cleared analysis and triage algorithms. This acquisition comes during a somewhat shaky moment in AI-based radiology. But Sirona is betting this move proves out its thesis: to bring AI into the clinical workflow, we need to rebuild things from the ground up. To understand where Sirona and Nines fit together, think about the IT behind radiology as a layer cake. The first layer of that cake is made of medical image databases. The second layer is software that radiologists interact with on a day-to-day basis, like viewing or reporting software. The third consists of AI algorithms that can search for patterns in those images or help doctors make decisions. The company has created algorithms that it claims can actually aid in physician decision-making. One of those algorithms allows scientists to measure the size of lung nodules (abnormal growths) to help detect respiratory diseases. The other algorithm evaluates CT images of the brain for signs of intracranial hemorrhage and mass effect. The goal is to help doctors triage patients. (Both algorithms have received FDA 510(k) clearance.)...
Street Talk can reveal Livingbridge agreed a deal to take a majority stake in Everlight over the weekend, buying the large stake owned by Intermediate Capital Group and investing alongside the groupâs management team and doctor shareholders.
The deal is understood to value Everlight at more than $500m, representing a big payday for departing shareholder ICG and a significant step-up when it comes to Livingbridgeâs investments in the local market.
Everlight ticks both boxes. The group, which offers diagnostic services to hospitals and other health providers, was founded in Australia as Imaging Partners Online in 2006, before expanding into New Zealand and the United Kingdom (in 2010).
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ICG, which bought into the business in 2016, had Rothschild & Coâs bankers run an auction to identify the buyer. The search started nearly two years ago, before it was paused to let the business and biddersâ deal with implications from the COVID-19 pandemic. It restarted in recent months, with a confirmation of interest at the end of June....
