Flywheel—a Minneapolis-based firm offering medical imaging management solutions for researchers and artificial intelligence developers—just raised $22 million, which it’s using in part to purchase a competitor.
Technology investment firm 8VC led the funding round with several others pitching in and more expected in the coming weeks, those involved said Wednesday. Flywheel is acquiring St. Louis-headquartered Radiologics, which offers software to support the use of medical images in clinical research.
“Our goal is to power accelerated R&D in oncology, radiology and other therapeutic areas where innovation is paramount and increasingly data-driven,” CEO Jim Olson said in an announcement.
Both companies will now operate under the Flywheel name offering “end-to-end” informatics solutions including consulting, software development and image-processing pipelines. The group has also inked several partnerships pertaining to the specialty with Google Cloud and Siemens Healthineers, among others.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.