Nanox Signs Strategic Collaboration Agreement With USARAD

Sunday, February 23, 2020

NANO-X IMAGING LTD is an innovative medical imaging technology company. They have announced a  partnership with Siemens Healthineers-backed USARAD, which leverages a radiology marketplace platform to offer radiology services by over 300 board-certified radiologists to over 500 medical facilities in all 50 U.S. states and 15 countries. As part of the agreement, USARAD will utilize existing radiologists and recruit additional professionals to become service providers using the Nanox.ARC and the Nanox.CLOUD for imaging diagnostics. The companies will collaborate on the deployment of 3,000 Nanox Systems in the U.S., under Nanox’s MSaaS (Medical Screening as a Service) pay-per-scan business model, which the Company expects will make medical imaging more accessible to patients at affordable costs.

The Nanox System is composed of the Nanox.ARC, a medical imaging system incorporating a novel digital X-ray source, and the Nanox.CLOUD, a companion cloud-based software that is designed to provide an end-to-end medical imaging service expected to include image repository, radiologist matching, online and offline diagnostics review, and annotation, connectivity to diagnostic assistive artificial intelligence systems, billing and reporting.

Nanox and USARAD will target 6,000+ freestanding imaging centers, 7,600+ urgent care clinics, numerous retail locations as well as thousands of physician practices across the U.S. for the deployment of the Nanox System, subject to regulatory approval, with the aim of improving the standard of care with significantly increased availability.

According to the World Health Organization (WHO), approximately two-thirds of the world’s population does not have access to medical imaging systems, while many people with access to medical imaging face substantial wait times for scanning. Medical imaging systems are an important early-detection tool that the Company believes are key to increasing early treatment, improving health outcomes and, ultimately, saving lives.

USARAD Holdings Inc., backed by Siemens Healthineers, Omphalos Venture Partners and Excelerate Health Ventures, offers radiology services in the U.S. across 50 states, as well as more than 15 countries, via its Radiology-On-Demand platform. USARAD leverages advanced technologies including AI and blockchain to service 100s of facilities to provide accepted, cost-effective, timely, medically accurate and up-to-date advanced teleradiology services to hospitals and outpatient care centers. USARAD acknowledges and strives to meet the growing needs of the global medical community, and by integrating the Nanox.Cloud, it will expand on its mission to supply the highest quality radiology services.

“This is a strategic agreement for Nanox,said Ran Poliakine, Founder and Chief Executive Officer of Nanox. “USARAD brings a wealth of professional radiology and market proficiency in the American healthcare arena, as well as acts as a pivotal partner to support our business model and social agenda in the U.S.”

“Nanox brings innovation in the form of a novel and revolutionary digital X-ray source, after more than 100 years of no material change in X-ray source technology,” said Dr. Michael Yuz Founder & CEO of USARAD. “Current top-range medical imaging systems are extremely expensive and there are not enough scanners to provide proper accessibility for all communities to have early-detection healthcare. We believe the Nanox. Arc is the game-changer we have all been waiting for, to solve the availability issue in our field.”

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