Multinational German pharmaceutical giant Bayer AG has announced the acquisition of Edinburgh digital health start-up, Blackford Analysis that specialises in artificial intelligence-powered medical imaging.
Edinburgh-based MedTech company, Blackford Analysis combines AI with health imaging technologies to improve health outcomes and is thought to be acquired for a ‘significant’ amount.
Following the acquisition, Blackford will continue to operate as an independent organisation on an arm’s-length basis to preserve its entrepreneurial culture. No changes are expected to the management and staff.
The MedTech company will remain accountable to advance its technology, channel partnerships and clinical application portfolio while benefiting from the experience, infrastructure and reach of Bayer as a global pharmaceutical company. The acquisition is expected to close later this year, pending the satisfaction of customary closing conditions.
Blackford has a presence in the UK and US focused on providing healthcare providers with tailored tools and services to unlock the value of medical imaging AI, driving efficiencies and improving patient outcomes. It also has a number of strategic partnerships with blue-chip companies as well as innovative medical imaging AI providers to develop and commercialise technology and sell to international markets. The team’s expertise and success to date were important factors in Bayer’s acquisition, bolstering its position in the space.
In 2020, Blackford and Bayer collaborated through a development and license agreement that laid the foundation for Bayer’s recently launched medical imaging platform, Calantic Digital Solutions.
The global medical imaging AI sector is expected to grow, reaching $1.36 billion by 2026. Innovation powered by AI is needed more than ever to help combat the increased demand for medical imaging to detect diseases and to guide optimised patient treatment pathways.
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