Teleradiology firm announces $13 million investment for cloud-based imaging services

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On August 2, StatRad, a San Diego-based teleradiology company, announced a $13 million equity investment from a strategic partner to continue developing technology to produce and share cloud-based medical images.

“This funding is a powerful validation of our technology solution and business model for managing medical images in the cloud. It will enable us to accelerate the expansion of our platform and the development of additional applications for the medical imaging markets while remaining debt free,” said Chief Executive Officer Vishal Verma, MD. “We’ve taken a huge step forward in our mission to improve the way medical images are managed, viewed and delivered.”

The funds will also support the company’s 25 percent growth in teleradiology services and its RadConnect cloud-based image sharing solution. StatRad’s customers can use its radiology services for after-hours coverage, which can help lower costs and improve patient care.