Core Sound Imaging, the provider of the medical imaging platform Studycast, has secured an $80 million investment from PSG, a leading growth equity firm. This funding will help accelerate Studycast’s expansion in key medical areas, introduce the platform to new clinical sectors, and enhance its use of artificial intelligence (AI). As part of the deal, Brian Kelly, Senior Advisor at PSG, will join Core Sound Imaging as Executive Chairman.

The medical imaging field is under pressure due to increasing demand for imaging studies, while the number of professionals available to conduct these studies is limited. Technology, such as Studycast, plays a critical role in bridging this gap by improving efficiency and reducing administrative burdens without compromising clinical outcomes.

Medical imaging is essential for accurate and timely diagnosis, but many healthcare facilities still rely on outdated, on-premises processes that can lead to inefficiencies, such as human error and delays in patient care. Studycast was developed in collaboration with healthcare professionals to streamline imaging workflows, allowing providers to focus on patient care. The cloud-based system supports all stages, from ordering studies to reviewing and archiving results. It allows healthcare providers and patients to access high-quality diagnostic images from any location with internet access. Studycast is used in specialties such as cardiology, vascular surgery, and obstetrics and gynaecology, with modalities including ultrasound, nuclear medicine, and electrocardiography.

The Co-Founders of Core Sound Imaging, Mark Smith (CEO) and Laurie Smith (Chief Revenue Officer), emphasised that PSG’s expertise in healthcare software and AI, as well as their operational resources, will be crucial in strengthening Studycast’s capabilities. They are keen to collaborate with PSG to expand the platform’s features and explore new clinical applications.

PSG’s Principal, Jimmy Guan, believes that Studycast is well-positioned to become the leading platform in the growing medical imaging space, thanks to its ease of use, seamless integration with other tools, and comprehensive workflow support. There is also a significant opportunity to scale the use of AI to enhance physician workflows and patient outcomes.

Latham & Watkins LLP acted as legal advisor to PSG, while Core Sound Imaging was advised by Holland & Knight LLP and Software Equity Group (SEG).



Source: businesswire.com

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