What is Hexarad?
Hexarad specializes in teleradiology and radiology workflow solutions, operating from its London headquarters. Founded in 2016, the company offers an integrated platform comprising ReportRad, an award-winning teleradiology service, and OptiRad, a business intelligence and workflow management tool. This comprehensive suite empowers healthcare providers to enhance the speed and accuracy of medical imaging diagnoses by connecting them with a global network of subspecialist radiologists for scan reporting. Hexarad's technology is engineered to boost operational efficiency, shorten diagnostic turnaround times, and improve overall diagnostic precision, incorporating AI-assisted reporting and advanced communication tools to optimize resource management within radiology departments.
How much funding has Hexarad raised?
Hexarad has raised a total of $59.2M across 2 funding rounds:
Series A
$45M
Other Financing Round
$14.2M
Series A (2022): $45M with participation from Foresight Group
Other Financing Round (2024): $14.2M led by Mtip and Foresight Group
Key Investors in Hexarad
Mtip
MTIP is a Swiss growth and buyout firm that specializes in acquiring and investing in profitable, high-growth healthcare software companies. The firm partners with founders and visionary management teams to scale businesses that drive innovation and create long-term value in the healthcare sector.
Foresight Group
Founded in 1984, Foresight Group is a leading independent infrastructure and private equity investment manager headquartered in London, United Kingdom.
Foresight Group
Founded in 1984, Foresight Group is a leading independent infrastructure and private equity investment manager headquartered in London, United Kingdom.
What's next for Hexarad?
With its recent major strategic investment, Hexarad is poised for accelerated expansion and further development of its advanced teleradiology and radiology workflow solutions. The company's focus on integrating AI and optimizing diagnostic processes positions it to capitalize on the growing demand for efficient and accurate medical imaging services. This latest round of financing will likely fuel enhancements to its platform, potentially expanding its service offerings and market reach within the enterprise-level healthcare sector. Hexarad's strategic backing signals a commitment to innovation and solidifies its role as a key player in transforming radiology operations through technology.
See full Hexarad company page
