Radiology expertise firm Hexarad has accomplished a €13 million development spherical, with European healthtech development fairness investor MTIP main the spherical alongside reinvestment from present shareholders, together with the Foresight Group. Headquartered in London, Hexarad was based in 2016 by a gaggle of NHS guide radiologists and is now one of many UK’s quickest rising healthtech firms.
Hexarad is a high-growth well being expertise firm with constant annual income development of over 120%. Its proprietary software program and teleradiology platform helps clients throughout the UK, Eire, and Saudi Arabia to spice up radiology capability and deal with the important thing causes of diagnostic delays.
Farzana Rahman, Co-Founder and CEO at Hexarad commented: “The scientific expertise inside our senior management workforce implies that we perceive these points inside out and know methods to create the best options. Importantly, as clinicians we additionally know to at all times put the affected person first. This vital funding will permit Hexarad to proceed its worldwide development and cement our place as one of many UK’s most fun well being expertise firms.”
Hexarad’s software program suite covers an end-to-end radiology workflow together with a proprietary radiology info system (RIS), Hexarad Edge integration engine, Hexarad Hub for pressing reporting and Hexarad Portal for auto-allocation. The corporate just lately received a Well being Companies Journal (HSJ) Partnership award for its work in lowering diagnostic ready occasions for acute and emergency care sufferers at North West Anglia NHS Basis, the place it saved 14 hours of accident and emergency (A&E) referral time an evening.
Hexarad additionally supplies tech-enabled teleradiology companies to the NHS and imaging centres throughout the UK and Eire. The corporate has developed proprietary expertise to routinely assign scans to probably the most acceptable radiologist. The auto-allocation device assigns scans 90% extra rapidly than handbook allocation, in addition to being extra correct and extra environment friendly. Hexarad has now established a powerful neighborhood for radiologists, attracting over 200 radiologists to its platform thus far, and delivers industry-leading turnaround occasions and constantly excessive buyer satisfaction scores.
Katrin Vatiska, Funding Accomplice at MTIP said: “We’re extremely impressed by the founding workforce—Farzana Rahman, Sam Dumonteil, Jaymin Patel, and Amy Davis—and we’re excited to accomplice with them for the following section of development. We see super potential in Hexarad and are thrilled to assist the scaling of their teleradiology companies and the growth of their software program product choices.”
Matt McLoughlin, Director at Foresight, added: “We’re delighted to proceed supporting Hexarad by taking part on this Sequence B funding spherical. The corporate has achieved robust development since our preliminary funding in 2021, utilizing its differentiated expertise platform and clinically-led strategy to make an actual distinction to sufferers. We sit up for the following stage of Hexarad’s journey.”
