Healthtech firm Hexarad has secured £1.7m capital investment from private equity and infrastructure investment manager Foresight Group as part of a £2.3m funding round.
The healthcare technology company, which provides teleradiology services to NHS Trusts and UK private healthcare customers is headquartered in London and was founded in 2016 by a group of NHS consultant radiologists.
Hexarad says the new funding will enable it to support more NHS and private healthcare customers, adding deeper capability and specialisation to its reporter network and further improve its technology.
Commenting on the investment, Hexarad CEO Farzana Rahman, said: “As radiologists, we’ve had first-hand experience of the growing demands within medical imaging and the tremendous pressure faced by radiology departments and hospitals.
“We founded Hexarad with the mission of creating excellence in medical imaging through developing innovative, clinically-led solutions that help patients get diagnosed more swiftly. We’re excited to be working with Foresight through this next phase of growth, providing the opportunity to build value for our customers.”
Matt McLoughlin, senior investment manager at Foresight, said: “The services that Hexarad provides are critical to the provision of patient care as the importance of medical images continues to increase.
“We are investing in an outstanding management team and we look forward to supporting them in achieving their vision over the coming years.”
James Livingston, partner at Foresight, added: “Foresight is committed to supporting high potential healthcare companies in the UK. The investment in Hexarad follows prior health sector investments by Foresight including ABL Health, Mi Healthcare and Hospital Services Limited.”
