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Cranfield, UK, 9th October 2024, Written by Jake Bannett – September has been an exciting month for imaging IT, with acquisitions, partnerships and contracts flying around left, right and centre! The market is awash with furtive excitement ahead of RSNA as it grows ever closer. Let me walk you through my highlights this month:
En-Laitek
Data standardisation specialist Enlitic made waves in the data migration space late August, as it announced the acquisition of data migration and routing vendor, Laitek, for a grand sum of $4.95 million. The acquisition of Laitek is a solid move for Enlitic, offering the vendor a “front end” use case to demonstrate the value and ROI through the utilisation of its data standardisation tools. The company announced on September 2nd that it was raising $15.2 million in new equity which it will use to fund the upcoming deal and other commercial plans. As part of its long-term strategy, Enlitic will inevitably look to position additional “front end” use cases that derives value from data curation and standardisation. Opportunities such as the use of data to train new AI algorithms and the demand for imaging data in the pharmaceutical sector also.
M&Animati
After limited M&A activity in imaging IT throughout most of 2024, we have witnessed two acquisitions in a single month! Brazilian imaging IT vendor, Animati, announced that it would be acquired by Arcadea Group (investment company). Given Signify’s positive outlook for the Brazilian and Latin American imaging IT market, with a forecast growth of 9.1% and 6.2% in 2024, respectively, investment in a local specialist makes sense for Arcadea. Support and backing from Arcadea will help Animati expand its domestic presence.
Reporting Partnerships Omnipresent In 2024
Reporting vendor MD.ai announced a partnership with imaging IT vendor OmniPACS, whereby the two will integrate the solutions and target the small-to-medium sized provider market. This year so far has seen a slew of activity in the reporting space and we’re expecting 2025 to see continued activity and real-world implementation of these specialist reporting solutions alongside traditional imaging IT.
Work Work Work-Flow
Mach7 Technologies announced that it will be partnering with Strings, by Paragon Health IT, to add workflow analytics to its portfolio. Mach7 builds upon its already established imaging IT portfolio by adding the enterprise analytics string to its bow, alongside the likes of Bialogics providing radiology and AI analytics as well as federated workflow specialist NewVue.
Speaking of NewVue, the company also had a busy month, with the announcement of a referral partnerships with both Konica Minolta and Illudium Technologies. As I’ve covered in previous round-ups, Konica Minolta has been rapidly building its network of peripheral vendors to help support its push into the enterprise imaging market and hospital space. NewVue is another piece of that puzzle. Secondly, Illudium will begin facilitating the use of NewVue through its healthcare IT consulting activities. Workflow orchestration remains an important tool for imaging IT vendors to leverage in an increasingly competitive market with providers that demand increased efficiency. Partnership with best-of-breed vendors can provide greater value to providers over imaging IT vendor’s workflow “feature”. Although the workflow features aresufficient in the basic requirements of worklists and orchestration, it won’t necessarily have all the bells and whistles of a specialist vendor.
Artificial Visualisation / Advanced Intelligence
France-based AI post-processing specialist Milvue has partnered with fellow French advanced visualisation vendor Olea Medical, a subsidiary of Canon Medical Systems. While specific details on the exact nature of the partnership have not been publicised, the two have a strong opportunity to integrate the AI-algorithms of Milvue with the AV solutions of Olea. This crossover is typical of the future of the advanced visualisation ecosystem, as the borders between AV and AI blur and the two become synonymous over the long term.
NHS New Multi-Million Medical IT Framework
NHS Supply Chain announced a new framework for the procurement of medical IT software and hardware solutions called “Digital Diagnostic Solutions”. Although the details of lots are not yet available, the products to be procured are expected to include radiology PACS, cardiology PACS, RIS, CVIS, VNA, advanced visualisation and associated hardware, amongst others outside of the imaging IT sphere. NHS Supply Chain estimates that the total value of the agreement will be £700 million, over the framework term. The invitation for vendors to tender for award is anticipated to go out in December this year.
Although this signals a significant wave of investment into England’s NHS, it’s important to be aware that the value is estimated over the framework term, alongside the uncertainty in terms of NHS trusts’ use of the procurement framework. As providers and Integrated Care Boards (ICBs) begin to renew contracts, the available framework is expected to boost the market.
If you have any questions about the announcements discussed here or have any research requirements for the wider Imaging IT market, please reach out. Feel free to message me on LinkedIn, reach out via email at jake.bennett@signifyresearch.net, or book a meeting with me here!
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Signify Research’s imaging IT service provides expert market intelligence and detailed insights across radiology IT, cardiology IT, and advanced visualisation IT, alongside operational workflow & business intelligence tools. Combining primary data collection and in-depth discussions with industry stakeholders, our thorough research approach yields credible quantitative and qualitative analysis, helping our customers make critical business decisions with confidence. Throughout the course of 2024, the imaging IT team will be further assessing developments in the market through its’ Imaging IT Market Intelligence Service.
About The Author
Jake is the Senior Market Analyst on the Imaging IT team and joined Signify Research in late 2023, after over half a decade in the medical devices and healthcare market research industries.
About Signify Research
Signify Research provides healthtech market intelligence powered by data that you can trust. We blend insights collected from in-depth interviews with technology vendors and healthcare professionals with sales data reported to us by leading vendors to provide a complete and balanced view of the market trends. Our coverage areas are Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences and Healthcare IT.
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