Radiology know-how firm Hexarad has accomplished a €13 million progress spherical, with European healthtech progress fairness investor MTIP main the spherical alongside reinvestment from current shareholders, together with the Foresight Group. Headquartered in London, Hexarad was based in 2016 by a bunch of NHS guide radiologists and is now one of many UK’s quickest rising healthtech firms.
Hexarad is a high-growth well being know-how firm with constant annual income progress of over 120%. Its proprietary software program and teleradiology platform helps clients throughout the UK, Eire, and Saudi Arabia to spice up radiology capability and deal with the important thing causes of diagnostic delays.
Farzana Rahman, Co-Founder and CEO at Hexarad commented: “The scientific expertise inside our senior management group implies that we perceive these points inside out and know learn how to create the simplest options. Importantly, as clinicians we additionally know to at all times put the affected person first. This vital funding will permit Hexarad to proceed its worldwide progress and cement our place as one of many UK’s most fun well being know-how firms.”
Hexarad’s software program suite covers an end-to-end radiology workflow together with a proprietary radiology info system (RIS), Hexarad Edge integration engine, Hexarad Hub for pressing reporting and Hexarad Portal for auto-allocation. The corporate not too long ago received a Well being Providers Journal (HSJ) Partnership award for its work in decreasing diagnostic ready occasions for acute and emergency care sufferers at North West Anglia NHS Basis, the place it saved 14 hours of accident and emergency (A&E) referral time an evening.
Hexarad additionally offers tech-enabled teleradiology providers to the NHS and imaging centres throughout the UK and Eire. The corporate has developed proprietary know-how to mechanically assign scans to probably the most acceptable radiologist. The auto-allocation device assigns scans 90% extra shortly than guide allocation, in addition to being extra correct and extra environment friendly. Hexarad has now established a robust neighborhood for radiologists, attracting over 200 radiologists to its platform thus far, and delivers industry-leading turnaround occasions and constantly excessive buyer satisfaction scores.
Katrin Vatiska, Funding Associate at MTIP acknowledged: “We’re extremely impressed by the founding group—Farzana Rahman, Sam Dumonteil, Jaymin Patel, and Amy Davis—and we’re excited to accomplice with them for the subsequent section of progress. We see super potential in Hexarad and are thrilled to assist the scaling of their teleradiology providers and the enlargement of their software program product choices.”
Matt McLoughlin, Director at Foresight, added: “We’re delighted to proceed supporting Hexarad by taking part on this Collection B funding spherical. The corporate has achieved robust progress since our preliminary funding in 2021, utilizing its differentiated know-how platform and clinically-led method to make an actual distinction to sufferers. We sit up for the subsequent stage of Hexarad’s journey.”