What You Should Know:
– Today, Intelerad, a leading global provider of enterprise medical imaging solutions, announced its acquisition of PenRad, a software provider for enhancing productivity for breast imaging and lung screening.
– The acquisition expands Intelerad’s product offerings for mammography and lung analytics, ensuring radiologists, technologists and other healthcare professionals can drive greater productivity and meet higher oncology screening demand, while improving patient care.
Expanding Breast Imaging and Lung Screening Capabilities
The mammography market is expected to increase by more than 20% in the next several years, while the lung cancer diagnostics market is expected to reach $3.4B by 2026. Moreover, cancer screenings, and most notably, mammograms, drastically decreased during the COVID-19 pandemic as many healthcare facilities were temporarily closed and others faced severe staffing shortages. As the demand for scans continues to rise to pre-pandemic levels, innovative tools and technologies are critical to ensuring providers can meet the influx of patients, and that such screenings and scans are readily available to further improve overall health outcomes.
Founded in 1995, PenRad’s three core product offerings – PenRad for breast imaging, PenLung for lung screening, and PenTrac for patient tracking and reporting – have a proven track record of eliminating overhead costs, decreasing liability exposure and increasing patient satisfaction for innovative enterprise systems and diagnostic imaging centers and facilities. With the company’s next-generation technology and dedicated client support, PenRad is leading the way in automated diagnostic radiology. With the acquisition of PenRad, Intelerad is now at the front lines of care as demand surges.
Financial details of the acquisition were not disclosed.