Bayer Announces Acquisition of Blackford Analysis to Advance AI in Radiology Imaging

January 18, 2023 — Addressing the growing demand for medical imaging and a shortage of radiologists, Bayer announced the acquisition of Blackford Analysis Ltd., a global imaging AI platform and solutions provider. The acquisition is part of Bayer's strategy to drive innovation in radiology, including the development and adoption of AI within the clinical workflow, with the goal to ultimately improve patient care and advance Bayer’s position in digital medical imaging.

The acquisition follows a development and license agreement between both companies in 2020 which, according to a statement issued by the company, laid the foundation for Bayer’s AI/medical imaging platform Calantic Digital Solutions. The platform helps radiologists triage critical patient findings for expedited review, improve lesion detection and automate tasks.

The transaction is expected to close later this year, pending the satisfaction of customary closing conditions, including a UK competition regulator condition precedent.

As a part of the acquisition, Blackford Analysis will continue on Bayer’s well established “arm’s length” operating model to preserve the company’s entrepreneurial culture. Blackford Analysis will remain accountable to advance its technology, channel partnerships and clinical application (ClinApp) portfolio. The acquisition is expected to close later this year, pending the satisfaction of customary closing conditions. The value of the deal was not disclosed.

“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,” said Stefan Oelrich, Member of the Board of Management, Bayer AG and President of Bayer’s Pharmaceutical Division. Oelrich continued, “This acquisition complements our comprehensive radiology portfolio and nourishes our engagement to drive innovation in digital health. 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.”

 With a presence in the United Kingdom and the United States, Blackford provides infrastructure and access to a rich clinical application (ClinApp) ecosystem focused on imaging and analytics. The acquisition follows a development and license agreement between both companies in 2020 that laid the foundation for Bayer’s recently launched medical imaging platform, Calantic Digital Solutions. Building on technology from Blackford and adding additional workflow and analytics components, Calantic Digital Solutions delivers access to applications, including those enabled by AI, for medical imaging.

“Blackford exists to improve the lives of patients and populations by unlocking the adoption and benefits of medical imaging AI. We investigated many routes to scale our business to deliver our mission and were delighted by Bayer’s invitation to deepen our partnership, whilst continuing to operate independently based on Bayer’s well-established arm’s length model,” said Ben Panter, Chief Executive Officer, Blackford Analysis. “Combining our knowledge and experience as one of the leading platform providers in the industry with Bayer’s advanced radiology portfolio will enable us to provide solutions to deliver ongoing clinical value to radiologists and their teams.”

Bayer is offering a comprehensive portfolio of contrast media for computed tomography (CT), X-Ray, and magnetic resonance imaging (MRI) devices for their precise administration, informatics solutions as well as a medical imaging platform delivering access to applications, including those enabled by AI. Altogether, the radiology products from Bayer generated €1.8bn sales in 2021.

For more information: www.bayer.com

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