Radiology software supplier Intelerad Medical Systems is investing $75 million to develop new artificial intelligence and cloud-based offerings.
Announcing the move Thursday, the company said it expects the boosted R&D spend to fuel a twofold increase in study volume.
Its cloud-based productivity dashboard, for example, will work toward this goal by incorporating machine learning technology aimed at allowing radiologists to make real-time, data-driven decisions, according to the announcement.
Also newsworthy in the announcement is Intelerad’s plan to double its size over the next five years. It will do so by recruiting subject-matter experts and other professionals into its workforce, which it says has grown by 30% over the past three years.
“We will continue to make a difference in healthcare by delivering scalable, enterprise-wide medical imaging solutions for healthcare providers and their patients,” Paul Lepage, president and CEO, said in prepared remarks.
Intelerad’s radiology products, which largely fall within the category of software as a service (SaaS), support diagnostic viewing, reporting and collaboration.