- Intelerad is a provider of medical imaging software and services
- Hg acquired Intelerad from Novacap in 2020
- TA Associates purchased a minority stake in the company in July 2022
Intelerad Medical Systems has acquired Newton, Massachusetts-headquartered Life Image, one of the largest image exchange networks of curated clinical and imaging data. The deal represents “a total investment approaching half a billion dollars,” according to a statement.
Based in Montreal and Raleigh, North Carolina, Intelerad is a provider of medical imaging software and services for the healthcare industry. It has more than 900 employees located in offices across six countries. Nearly 2,500 healthcare organizations around the world rely on Intelerad products to manage patient data.
“Intelerad has been unwavering in backing the challenge put forth by the American College of Radiology (ACR), RSNA and SIIM to #ditchthedisk. Today’s transaction reflects one of the most important steps we could imagine in reaching that vision,” said Mike Lipps, Intelerad CEO in a statement. “Bringing together two of the industry’s leading image exchange providers further solidifies Intelerad’s commitment to helping clinicians and patients lead the revolution in imaging from a world of siloed PACS to a future of interoperable image exchange.”
With the deal, Intelerad and Life Image serve many of the largest medical institutions in the world, including Mayo Clinic, Cleveland Clinic and New York Presbyterian Hospital. The combined network manages over 80 billion images globally, enabling 24/7 digital image sharing from any device wherever the provider or patient may be.
Hg acquired Intelerad from Novacap in 2020. In July 2022, TA Associates announced it acquired a minority stake in the company, as reported here by PE Hub.
Hg targets technology buyouts primarily in Europe and the US. It has over $40 billion in funds under management with nearly 300 employees across London, Munich and New York.