RadNet Expands into Ultrasound AI with Acquisition of See-Mode Technologies

RadNet Inc., a prominent U.S. imaging center operator, has expanded its artificial intelligence (AI) capabilities by acquiring See-Mode Technologies, an Australian company specializing in AI-driven ultrasound imaging. Founded in 2017 and based in Melbourne, See-Mode offers software that analyzes breast and thyroid images, aiming to produce fast and accurate radiology reports. RadNet has already implemented See-Mode’s FDA-cleared thyroid solution in some of its 400 outpatient centers, reporting a 30% reduction in scan times due to enhanced workflow efficiency.

This acquisition aligns with RadNet's strategic focus on integrating AI into its diagnostic services. The company plans to incorporate See-Mode’s products into its DeepHealth portfolio, which encompasses various population health tools.RadNet anticipates that AI can help address the high demand for ultrasound services, as its over 900 ultrasound units currently face capacity constraints. CEO Howard Berger, MD, highlighted the significance of this move, stating, “Thyroid cancer is one of the fastest growing cancer diagnoses worldwide and, alongside breast cancer, is among the most common cancers affecting women.” He noted that approximately 20 million ultrasound exams are performed annually in the U.S. for thyroid and breast evaluations, emphasizing the potential impact of AI in improving care.

Financial details of the See-Mode acquisition were not disclosed, but RadNet indicated that it would provide this information in a future regulatory filing. This acquisition follows RadNet's recent purchase of breast imaging AI vendor iCAD for $103 million, further demonstrating its commitment to enhancing diagnostic imaging through AI technologies.

See-Mode Technologies was co-founded by scientists Milad Mohammadzadeh, PhD, and Sadaf Monajemi, PhD, who studied engineering in Singapore and are based in Australia. The company has developed software solutions that automate the analysis and reporting of vascular ultrasound scans and has received FDA clearance for a product that detects and classifies thyroid nodules. RadNet aims to leverage these technologies to improve access and revenue, as well as to expand efficiencies to breast screening and other clinical areas within its more than 2 million annual ultrasound studies.