Scan.com Raises $220M to Modernize US Medical Imaging

Scan.com has successfully closed a substantial funding round totaling $220 million, combining both equity and debt. This significant capital infusion is earmarked for the aggressive expansion of its medical imaging network across the United States and for further advancements in its technology infrastructure. The platform aims to streamline the connection between patients, healthcare providers, and imaging facilities, addressing long-standing inefficiencies in the sector.

The financing follows a period of remarkable growth for Scan.com, which saw its revenue double over the past year, propelling its annualized revenue run rate beyond the $165 million mark. This performance underscores the market's demand for a more digitized and accessible approach to diagnostic imaging services. The company is strategically targeting the U.S. medical imaging market, a sector estimated to be worth over $100 billion, where traditional booking methods like phone calls and faxes still dominate for approximately 85% of procedures.

The equity portion of the funding, amounting to $90 million, was led by Noteus Partners. Significant participation also came from Aviva, Concord Health Partners, YZR Capital, and Oxford Capital, among other investors. Complementing this, Scan.com secured $130 million in debt facilities from VerisFi Capital and Atempo Growth. These debt facilities are designated to support strategic mergers and acquisitions as well as bolster working capital, enabling the company to scale its operations more rapidly.

Scan.com's innovative platform acts as a national API, integrating with the scheduling systems of independent imaging centers and electronic medical records. This allows digital health companies, employer benefit platforms, health plans, and workers’ compensation systems to access a vast network of imaging providers without the need for individual, complex integrations. The system leverages artificial intelligence to optimize the matching of patient referrals with real-time availability, transparent pricing, and specific radiology subspecialties. AI also automates administrative tasks and expedites the delivery of diagnostic reports, which are typically provided within 48 hours.

The company, already a leader in the U.K. medical imaging market, has been operational nationwide in the U.S. since its expansion in 2023. To date, over 900,000 patients globally have utilized Scan.com's network. The newly acquired capital will be instrumental in broadening its U.S. provider network and enhancing its proprietary AI infrastructure, which is crucial for patient routing, scheduling efficiency, and the seamless delivery of diagnostic results. This strategic investment positions Scan.com to significantly disrupt the fragmented U.S. imaging market by introducing a centralized, technology-driven solution.

Charlie Bullock, Co-Founder and CEO of Scan.com, highlighted the foundational gap in the U.S. market, stating, “Imaging never had the national infrastructure that labs achieved decades ago with players like Quest Diagnostics and Labcorp. That is precisely what we have built.” He further emphasized the platform's value proposition: enabling employers, health plans, and digital health apps to access nationwide imaging capacity through a single API, ensuring patients receive timely, transparently priced, and quality-assured care. This funding aims to establish this streamlined process as the new standard in U.S. healthcare.