What To Know
- Medica will be able to capitalize on the JV's shared expertise and market access to support the growth of our NightHawk reporting service and take advantage of the exciting teleradiology market opportunity in Australia, New Zealand and potential opportunities in other international markets.
- In the future, there will be potential to expand the scope of the JV, including combining Integral Diagnostics' existing reporting capabilities and resources with Medica's experience in teleradiology, meaning MedX will have the potential to bid directly for teleradiology reporting contracts using its combined network of reporters.
Medica and Integral Diagnostis Limited partnership is an equal joint venture (JV) partnership, where MedX is to provide teleradiology reporting services and increased reporting capacity in Australia, New Zealand, the UK, and Ireland.
The primary short-term focus will be for MedX to provide access to a pool of dual-qualified radiologists who are able to operate in both markets and will support both companies’ acute, out-of-hours reporting services. The two partners will also collaborate in areas of mutual interest, including the deployment of augmented intelligence (AI) solutions.
In the future, there will be potential to expand the scope of the JV, including combining Integral Diagnostics’ existing reporting capabilities and resources with Medica’s experience in teleradiology, meaning MedX will have the potential to bid directly for teleradiology reporting contracts using its combined network of reporters. In time, there is also the potential for MedX to leverage its scalable and secure operating model and reporting system to offer its services outside of its core markets (UK, Ireland, Australia, and New Zealand).
MedX will be registered in Australia and the Board will comprise Integral Diagnostics’ CEO, Dr. Ian Kadish, and Chief Financial and Commercial Officer, Anne Lockwood, as well as Medica’s CEO, Stuart Quin, and CFO, Richard Jones.
Dr. Stuart Quin, CEO Medica Group, commented: “Establishing MedX in partnership with Integral Diagnostics will provide significant operational benefits for Medica for a modest investment and is testament to our continued desire to expand the geographic reach of our teleradiology services. Both companies share a joint culture underpinned by a focus on quality and an ambition to grow and develop our organizations. Medica will be able to capitalize on the JV’s shared expertise and market access to support the growth of our NightHawk reporting service and take advantage of the exciting teleradiology market opportunity in Australia, New Zealand and potential opportunities in other international markets.”
Dr. Ian Kadish, CEO of Integral Diagnostics Limited, commented: “Integral Diagnostics is pleased to enter this JV with one of the world’s premier teleradiology providers. MedX significantly enhances the capacity and reach of the JV partners and enables us to more comprehensively serve existing markets, as well as potentially to enter new markets. The JV partners share a culture committed to quality patient care and service, and we look forward to harnessing the JV for the benefit of our patients and referrers.”