Hexarad has secured a £2.3m funding round to accelerate its growth plans.
The teleradiology start-up was founded in 2016 by a group of NHS consultant radiologists who wanted to address the problem of a global shortage of radiologists. Its teleradiology model provides remote, specialist clinical reporting on diagnostic images to both NHS Trusts and UK private healthcare organisations, with a turnaround time of 24 hours.
Hexarad recently closed a £2.3m funding round which included a £1.7m growth capital investment from private equity and infrastructure investment manager Foresight Group.
The firm says the funding will be used to support more NHS and private healthcare customers, adding deeper capability and specialisation to its reporter network and further improving the technology integral to its customer and radiologist experience.
Commenting on the investment, Farzana Rahman, CEO of Hexarad, said: “As radiologists ourselves, we understand the enormous strain that radiology services are under across the UK.
“We founded Hexarad to address the chronic shortage of radiologists, but the Covid-19 backlog is now straining services even further. It is clear that teleradiology is going to be a key component of medical imaging services moving forwards.
“Our model is ‘intelligent outsourcing’ where we not only provide radiology reporting capacity but have technology that helps departments use their in-house resources more efficiently so they only outsource when they need to.”
