Blackford Analysis, a health technology company that specializes in artificial intelligence solutions, has been acquired by Bayer.
The Edinburgh-based business made the announcement on Jan. 18, noting that the acquisition will build on the company’s goals to “improve the lives of patients and populations by unlocking the adoption and benefits of medical imaging AI.”
No financial terms of the deal have been released at this time.
Blackford Analysis is headquartered in Scotland and will continue to operate from there as an independent organization, but will be able to expand its reach internationally within the medical tech space with the support of Bayer.
The two companies are no strangers to one another—in 2020, Blackford and Bayer worked together while Bayer was laying the groundwork for their medical imaging platform, Calantic Digital Solutions, which launched in June of 2022.
Numerous Scottish health-tech companies have supported Blackford since its inception in 2010, including Archangels, Old College Capital, Scottish Enterprise, Thairm Bio and Tricapital.
In a prepared statement, Blackford founder and CEO, Ben Panter, thanked those investors for their support throughout the years.
“I’m extremely proud of everything our team has achieved and look forward to continuing to expand our partnerships across the industry,” Panter said. “I’d like to acknowledge our investors’ unwavering support over the last twelve years, and I’m delighted to be returning value that can be reinvested in the next generation of entrepreneurial companies in Scotland.”
Stefan Oelrich, President of Bayer’s Pharmaceutical Division, indicated that the partnership will expand the company’s growing AI portfolio to the benefit of radiologists and the patients they serve.
“We are pleased to join forces with Blackford and their exceptional team to optimally utilize our combined expertise in healthcare technology with the aim to deliver true value to radiologists and their teams for the benefit of their patients. Adding Blackford and its AI technology to our radiology portfolio secures Bayer an excellent position in the fastest growing segment within the overall global radiology industry,” Oelrich said.
The acquisition should be finalized later this year.
In addition to her background in journalism, Hannah also has patient-facing experience in clinical settings, having spent more than 12 years working as a registered rad tech. She joined Innovate Healthcare in 2021 and has since put her unique expertise to use in her editorial role with Health Imaging.