A $90 million Series C led by Noteus Partners is accompanied by $130 million in debt facilities from VerisFi Capital and Atempo Growth as the medical imaging company expands in the US.
London-headquartered medical imaging company Scan.com has closed $220 million in combined equity and debt financing, comprising a $90 million Series C round and $130 million in debt facilities. The equity round was led by Noteus Partners, with participation from Aviva, Concord Health Partners, YZR Capital, Oxford Capital and other investors. VerisFi Capital and Atempo Growth provided the debt facilities.
Scan.com said the financing will support the expansion of its imaging-provider network across the United States and further investment in its application programming interface, or API, and automation infrastructure. The company said the $130 million debt component is intended to support mergers and acquisitions and working capital.
The company operates a technology-enabled network connecting patients, healthcare providers, payers and imaging centres. Its developer platform allows customers to search imaging providers by factors including modality, geography, insurance network and price, create imaging orders and retrieve structured radiology reports. Scan.com also says artificial intelligence is used to match referrals against availability and other criteria, automate parts of scheduling and paperwork, and route reports to appropriate radiologists. Human care guides remain part of the patient workflow.
Scan.com reported that its revenue doubled over the previous year to exceed a $165 million annualized run rate, while more than 900,000 patients had accessed care through its network globally. Those operating metrics are company-reported. Independent reporting from The Times said the business generated about $85 million in revenue in the previous year and now derives most of its revenue from the US.
The business traces its origins to the UK in 2017, when clinicians Khalid Latief and Jasper Nissim began addressing difficulties patients faced when arranging diagnostic imaging. They subsequently formed a broader founding team with Charlie Bullock, Oliver Knight and Joe Daniels. Bullock currently serves as chief executive and Knight as chief operating officer. The business previously operated under the National MRI Scan brand before adopting Scan.com.
