London-based health tech Hexarad secures €13 million for its teleradiology platform

Radiology innovation firm Hexarad has actually finished a EUR13 million development round, with European healthtech development equity capitalist MTIP leading the round along with reinvestment from existing investors, consisting of the Insight Team. Headquartered in London, Hexarad was established in 2016 by a team of NHS expert radiologists and is currently among the UK’s fastest expanding healthtech firms.

Hexarad is a high-growth wellness innovation firm with regular yearly profits development of over 120%. Its exclusive software program and teleradiology system assists consumers throughout the UK, Ireland, and Saudi Arabia to increase radiology capability and deal with the vital reasons for analysis hold-ups.

Farzana Rahman, Founder and chief executive officer at Hexarad commented: ” The professional experience within our elderly management group indicates that we recognize these problems completely and understand just how to develop one of the most reliable options. Notably, as medical professionals we additionally understand to constantly place the individual initially. This substantial financial investment will certainly permit Hexarad to proceed its global development and seal our location as one of the UK’s the majority of amazing wellness innovation firms.”

Hexarad’s software program collection covers an end-to-end radiology process consisting of an exclusive radiology details system (RIS), Hexarad Side assimilation engine, Hexarad Center for immediate coverage and Hexarad Site for auto-allocation. The firm lately won a Health and wellness Providers Journal (HSJ) Collaboration honor for its operate in lowering analysis waiting times for intense and emergency situation treatment individuals at North West Anglia NHS Structure, where it conserved 14 hours of crash and emergency situation (A&E) reference time an evening.

Hexarad additionally supplies tech-enabled teleradiology solutions to the NHS and imaging centres throughout the UK and Ireland. The firm has actually established exclusive innovation to instantly appoint scans to one of the most ideal radiologist. The auto-allocation device appoints scans 90% quicker than hand-operated allowance, along with being a lot more precise and a lot more effective. Hexarad has actually currently developed a solid neighborhood for radiologists, bring in over 200 radiologists to its system to day, and supplies industry-leading turn-around times and constantly high client complete satisfaction ratings.

Katrin Vatiska, Financial Investment Companion at MTIP mentioned: ” We are extremely excited by the starting group– Farzana Rahman, Sam Dumonteil, Jaymin Patel, and Amy Davis– and we are delighted to companion with them for the following stage of development. We see remarkable capacity in Hexarad and are enjoyed sustain the scaling of their teleradiology solutions and the growth of their software offerings.”

Matt McLoughlin, Supervisor at Insight, included: ” We are thrilled to proceed sustaining Hexarad by taking part in this Collection B financing round. The firm has actually accomplished solid development given that our preliminary financial investment in 2021, utilizing its distinguished innovation system and clinically-led strategy to make a genuine distinction to individuals. We anticipate the following phase of Hexarad’s trip.”

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