Imaging services provider RadNet has acquired radiology artificial intelligence (AI) startup company Nulogix and launched an AI division.
RadNet, which had previously owned 25% of Nulogix, purchased the remaining 75% of the company. The resulting AI division will now focus on developing, acquiring, and investing in AI technologies that focus on image interpretation and radiology business processes, according to the firm. Although AI applications will be developed internally by the Nulogix team, RadNet will also explore opportunities to partner, license, and invest in third-party AI technology.
"Today, we spend almost 20% of our globally billed net revenue on the radiologist interpretation of our images," said RadNet CEO Dr. Howard Berger in a statement. "If AI were to lower the cost of image interpretation by making our affiliated radiologists more productive and more accurate, all of RadNet's stakeholders stand to benefit materially."
