STAT+: To speed adoption of breast cancer AI, a radiology network plots an acquisition
National radiology network Radnet to acquire iCAD for over $100 million for its breast cancer screening AI algorithm.
RadNet, which runs nearly 400 radiology imaging centers in the United States, wants to put artificial intelligence into breast imaging.
Over the last five years, the company has moved aggressively to expand its AI capabilities, deploying the technology for breast cancer screenings at its radiology practices. There, patients can pay $40 out-of-pocket for an algorithm to screen their mammogram, with a double-check if the AI says something different than the human radiologist reading the same scan. RadNet says about 40% of its patients opt in, running about 600,000 mammograms through the company’s AI every year.
This week, the company doubled down, announcing its plans to acquire iCAD, whose own breast screening AI touches more than 8 million mammograms every year, in an all-stock deal worth about $103 million. By combining RadNet’s built-in network of radiology providers with another AI point solution for breast cancer, the company hopes to accelerate the adoption of technology that many independent radiologists and health networks still balk at.
