Hg-backed Intelerad Medical Systems buys HeartIT

Intelerad Medical Systems, which is backed by Hg, has acquired North Carolina-based Heart Imaging Technologies, a provider of clinical workflow automation solutions.

Intelerad Medical Systems, which is backed by Hg, has acquired North Carolina-based Heart Imaging Technologies, a provider of clinical workflow automation solutions. No financial terms were disclosed.

PRESS RELEASE

Raleigh, NC and Montreal, Canada – July 8, 2021 – Today, Intelerad Medical Systems™, a global leader in medical image management solutions, announced its acquisition of Heart Imaging Technologies (HeartIT), the leader in clinical workflow automation. Headquartered in the Raleigh-Durham area, HeartIT provides web-based medical image management technology and services to health systems, large hospitals and private clinics, as well as drug and device companies sponsoring multi-center clinical trials. The acquisition will significantly expand Intelerad’s ability to provide enterprise imaging and insights while also deepening cardiovascular expertise.

Founded in 2000, HeartIT has been developing innovative medical image viewing and reporting software for more than two decades. Today, the company provides secure web browser access to over one billion medical images. Most notably, the company was one of the first to offer an FDA-cleared zero footprint medical image workstation, setting the precedent for others seeking approval.

“The challenges healthcare providers were facing prior to the pandemic are now even more critical, and technology is key to overcoming them,” said Mike Lipps, Intelerad President & Chief Executive Officer. “Our goal at Intelerad is to improve efficiency, productivity, and the user experience for providers. By partnering with HeartIT, we’re enabling our customers to tap into advanced visualization and reporting capabilities while increasing ROI and improving patient outcomes.”

In February, Intelerad announced its acquisition of LUMEDX, a leading provider of healthcare analytics and cardiovascular information systems, which was preceded by the Digisonics acquisition in December 2020. The addition of HeartIT further supports Intelerad’s journey to provide software solutions that seamlessly manage medical images, workflows, and data, and ultimately help improve patient care. “We are thrilled to welcome HeartIT and are excited about Intelerad’s continued expansion on their path to being the global leader in medical image management,” said Jean-Baptiste Brian, Intelerad board member and Partner at HG.

“HeartIT spent over 20 years developing and improving software that allows a bare bones web browser to display diagnostic-quality medical images quickly and conveniently, including overcoming the technical challenges associated with simultaneously displaying multi-modality movies of the beating human heart side-by-side,” said Robert Judd, Ph.D, President of HeartIT. “Our commitment to overcoming these technical challenges has improved physician workflows and enabled us to continue to grow and reach new heights. We’re thrilled to join forces with Intelerad as we seek to integrate our technologies and provide a broader depth of enterprise imaging and analytics capabilities.”

Currently, Intelerad staffs nearly 60 employees in the Raleigh area. Today, the company is aggressively hiring across all divisions, and further plans to expand its Raleigh presence by opening an office space in the fall.

To learn more about Intelerad and its solutions, visit www.intelerad.com or follow the company on LinkedIn and Twitter.

About Intelerad
Founded in 1999, Intelerad offers healthcare’s most comprehensive imaging and analytics platform. Headquartered in Montreal, Intelerad has approximately 500 employees located in nine offices across six countries. The company empowers over 1,000 healthcare organizations around the world with the speed, scalability, and simplicity needed to increase business performance while, most importantly, improving patient outcomes. Intelerad’s modern enterprise solutions have been acknowledged by a Best in KLAS recognition, ranking #1 for PACS Asia/Oceania in the 2021 Best in KLAS: Global Software (Non-US) report. To learn more, visit www.intelerad.com and follow Intelerad on LinkedIn and Twitter.

About HeartIT
Headquartered near North Carolina’s Research Triangle Park, Heart Imaging Technologies was the first company to offer an FDA-cleared zero footprint medical image workstation, which has become the precedent for other companies seeking FDA clearance. HeartIT provides web-based medical image management technology and services to health care systems, large hospitals, and private clinics as well as drug and device companies sponsoring multi-center clinical trials. Worldwide, HeartIT solutions provide secure web browser access to over one billion medical images. For more information visit www.heartit.com.

About HG
Hg is a leading European investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses.

Hg has funds under management of over $31 billion, with an investment team of over 120 professionals, plus a portfolio team of more than 30 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich, and New York, Hg has a portfolio of over 30 software and technology businesses, comprising over 35,000 employees across the UK, US, and Europe. For further details, please visit the Hg website: hgcapital.com.