RESEARCH TRIANGLE PARK – Heart Imaging Technologies, or HeartIT, will be acquired by Montreal-based Intelerad, which says will enable the company to provide enterprise imaging and insights and deepen the company’s cardiovascular expertise.
The HeartIT team will be integrated into the parent firm, according to a spokesperson for the company. Robert Judd, the founder and president of HeartIT will become the General Manager for the HeartIT business at Intelerad.
In addition, the company spokesperson noted, Intelerad, which now employs about 60 people in the Triangle, plans to hire between 50 and 100 new positions in the next six months and is planning an expansion, which will involve opening a new office or facility in the Triangle region.
Judd and Raymond Kim, MD, founded HeartIT in 2000. The company develops innovative medical image viewing and reporting software, including technology that provides clients secure web browser access to over one billion medical images. HeartIT was one of the first firms to offer an FDA-cleared zero-footprint medical image workstation, the company stated.
“Our commitment to overcoming these technical challenges has improved physician workflows and enabled us to continue to grow and reach new heights,” said Robert Judd, Ph.D., president of HeartIT, in a statement. “We’re thrilled to join forces with Intelerad as we seek to integrate our technologies and provide a broader depth of enterprise imaging and analytics capabilities.”
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The expansion into the Triangle would occur in the fall of 2021, said a company spokesperson, noting that the region provides an ideal U.S. base of operations. The company is already working with a commercial real estate broker to identify a viable site, the spokesperson said.
“This acquisition is another milestone in Intelerad’s journey to help healthcare providers deliver better patient care, and employees are key to helping the company realize our vision,” said the company spokesperson. “As a result, there are minimal people changes planned as part of the acquisition.”
Intelerad announced the acquisition of LUMEDX in February 2021 and acquired Digisonics in December 2020.
“The addition of HeartIT further supports Intelerad’s journey to provide software solutions that seamlessly manage medical images, workflows, and data, and ultimately help improve patient care,” a statement released by the company reads.
To fuel growth and expansion, Intelerad announced an investment by Hg in January 2020, which a company spokesperson noted resulted in enabling the company to significantly advance its strategy, fuel international organic expansion, and support Intelerad’s future acquisition targets to drive inorganic growth.
The terms of the deal were not announced.
