RadNet has created a new division completely focused on the development of AI solutions in radiology. To help with this effort, the company also acquired the remaining 75% of Nulogix, a medical imaging company focused on AI; RadNet already owned 25% of Nulogix.
This new AI division, according to a prepared statement, will work to build its own solutions while also considering “partnering, licensing and investing” in solutions developed by outside parties.
“We expect that machine learning, big data applications and automation algorithms will allow us to deliver our services more cost effectively, efficiently and accurately,” Howard Berger, MD, chairman and CEO of RadNet, said in the statement. “We are committed to supporting technologies that make our business run in ways to advantage our patients, joint venture partners, referring physician communities and contracted health plans. We will demonstrate this commitment through investing in leading-edge solutions being developed by Nulogix and others. We are frequently being presented with new technologies and products for us to test and evaluate.”
Berger added in the same statement that AI has the potential to significantly lower the cost of image interpretation. If this goal was accomplished, he said, “all of RadNet’s stakeholders stand to benefit materially.”