Intelerad Medical Systems is acquiring cloud-based imaging specialist Ambra Health, positioning itself as a market leader in enterprise imaging solutions, the pair announced early Thursday.
The parties did not disclose specific terms of the deal but estimate the newly formed entity to be worth $1.7 billion. And as a result, the combined company says it now manages more than 50 billion medical images and will read upward of 130 million exams each year.
Intelerad CEO Mike Lipps said the deal expands the new firm’s ability to develop distributed radiology reading solutions and offer leading cloud-based imaging capabilities.
“For healthcare providers, moving to the cloud is not a matter of if, but when. Partnering with Ambra is a significant milestone on our path to provide the most scalable and robust medical image management platform in the industry,” Lipps said in the announcement. “And while many medical imaging vendors offer pieces of what providers need, Intelerad now offers the entire solution.”
As a result of the acquisition, Ambra’s CEO Morris Panner will become president of the Montreal, Quebec, technology firm and report directly to Lipps.
This marks Intelrad’s fourth transaction over the past calendar year, which includes acquiring Lumedx, an Oakland, California, cardiovascular analytics company, and Digisonics, which focuses on both obstetric and cardiovascular reporting systems.
Back in January 2020, London-based investment firm Hg Capital spent between $500 and $550 million to obtain a majority stake in Intelarad.