Intelerad Achieves 70% Revenue Growth, More Than Doubles Customer Base in Past Twelve Months
Company completed four acquisitions in 2021, with a total of six new acquisitions since investment from HG Capital in February 2020
Intelerad Medical Systems, a global leader in medical image management solutions, announced that the company’s four acquisitions in 2021 and increased demand for its combined suite of solutions have led to its double-digit revenue growth and a 170% increase in its global customer base. This increase in demand is driven in part by changing provider needs as a result of the COVID pandemic, and as the necessity grows for innovative healthcare technology solutions that support healthcare organizations in further driving clinical efficiency and patient care.
Today more than ever, healthcare providers are seeking automated solutions that allow them to focus on what they do best — treating patients and providing improved patient care. In an effort to further meet these needs, Intelerad is focused on delivering a best-in-class enterprise imaging solution that improves provider efficiency, decreases the cost of healthcare, and improves the overall health of populations.
“2021 was a dynamic year for healthcare. While hospitals, health systems and radiology practices have continued to face immense, unexpected challenges throughout the COVID pandemic, our industry has worked to proactively ease the pain points associated with the value-based care movement as well as COVID-era challenges,” said Mike Lipps, CEO, Intelerad. “For Intelerad, this has meant ensuring that our customers realize the value of medical image management technology. With an expanded customer base, new product offerings, and new brands in our portfolio, the future is bright for our company and the industry, and we look forward to continuing working alongside our customers in 2022.”
To support this mission, Intelerad acquired four brands in 2021, further enhancing the company’s product portfolio and expanding to now serve nearly 2,000 customers, including all of the top 10 U.S. Best Hospitals. The recently acquired companies are:
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Ambra Health, maker of a leading cloud-based medical image management suite. The partnership significantly expands the combined company’s ability to enable distributed radiology reading, collaborative care solutions and advanced life science research to improve the health of populations.
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Heart Imaging Technologies (HeartIT). The leader in clinical workflow automation, the acquisition significantly expands Intelerad’s ability to provide enterprise imaging and insights and cardiovascular expertise.
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A leading UK-based enterprise imaging provider, Insignia Medical Systems has provided high-quality imaging solutions that improve outcomes for patients in the UK for nearly two decades.
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LUMEDX, a leading provider of healthcare analytics and cardiovascular information systems. The deal expands the breadth and reach of Intelerad’s offerings through an expanded suite of solutions, further positioning the company as a leader in the cardiovascular space.
Furthermore, the company launched a new cloud-native disaster recovery solution at this year’s 2021 Radiological Society of North America (RSNA) conference in Chicago. Designed to provide global healthcare organizations with the ability to infinitely scale and store medical data in a secure environment, Cloud DR mitigates the risks against natural disasters, human error, technological failure or cybersecurity breaches amongst hospitals, healthcare systems and radiology practice groups.
The company’s employee headcount also grew in 2021 — up 400% and now employing over 700 team members across the globe. Amidst the rapid growth, this year Intelerad announced the expansion of its footprint in Raleigh, NC, which is soon to become its U.S. headquarters. The company is expected to double the size of its Raleigh base over the next 12-18 months, and is hiring for multiple roles across the organization.
“Since joining Intelerad several months ago, I’ve been impressed by the dedication and commitment of our team members as we seek to collectively solve healthcare’s most complex problems via advanced software technology,” said Morris Panner, Intelerad President. “We look forward to working with our customers further in 2022 as we continue to deliver our suite of products that enable providers to do more for the people who matter most — their patients.”
For more information on Intelerad or to learn more about the company’s expanded product portfolio, please visit intelerad.com and or follow the company on social media at @Intelerad.
