RxEye is raising EUR 3,5 million in a new share issue from Industrifonden and Praktikerinvest

Press Release   •   Jul 10, 2012 12:01 GMT

RxEye, a medical technology company, has carried out a new share issue, raising approx. EUR 3,5 million from Industrifonden and Praktikerinvest. RxEye offers integrated solutions for remote reviewing of medical imaging through a Web-based service for procurement, appointment management, administration and access to radiology and pathology imaging. The solution can save substantial amounts of money for the health service and provides patients with the possibility for better care. The new capital will be used for the company's continued expansion in the Nordic countries.

RxEye is a medical technology company offering co-operative solutions for remote reviewing of medical imaging using streaming technology. Through the service, physicians can review images independently of the specific hospital or care provider where the patient is physically located and all it requires is a normal computer. The technology makes co-operation possible across organisational boundaries, enabling expertise to be accessed and deficiencies in resources and competencies to be addressed for diagnostic imaging (for example radiology and pathology).  This provides patients with the possibility for better care with faster and more accurate diagnostics, as well as shorter waiting times.

RxEye, which was founded in 2010, has experienced great success in the Swedish radiology market and now intends to apply these experiences to the Nordic market. Several of the county councils in Sweden have been contracted and a large project with the Stockholm County Council is underway with the objective of improving care for cancer patients. Last week, it was announced that a project for which RxEye is serving as the principal project manager was awarded approx. EUR 1,1 million in support from VINNOVA. The project is intended to establish co-operation for competencies, capacities and multidisciplinary teams in a number of areas involving diagnostic imaging.

”RxEye has shown that its business model is workable and that there is a great demand for its products. Low investment costs for geographical expansion and a solid external legal analysis of the procurement process have led us to deem the scalability of the company to be good”, says Hedvig Andersén, an Investment Manager for Industrifonden and the Chairman of the Board for RxEye.

”We have a vast amount of confidence in RxEye and se a great potential for future growth. RxEye is solving many of the problems that diagnostic imaging is facing and is adding real value for the customers and the patients,” says Björn Svanström, Managing Director of Praktikerinvest.

The new capital will be used first and foremost for market expansion in the Nordic countries in the area of radiology as well as to introduce RxEye's solution for pathology to the Nordic market under its own auspices.

”With strong financing and confirmation of our successes in the Swedish market, we are now gearing up for the Nordic market. Our long-term goal is for patients to be given the best possible care regardless of the where in the world the patient is located and for physicians to be able to reach each other easily for consultations or assistance with capacity difficulties regardless of the system or the healthcare organisation,” says Magnus Hök, Managing Director of RxEye.

Would you like to know more? Please contact us, we would be quite pleased to be of assistance.

Magnus Hök, Managing Director, RxEye AB, (+46) 070-488 88 01, magnus.hok@rxeye.net, www.rxeye.net

Ulf Hertin, Business Director, RxEye AB, (+46) 070-767 98 00, ulf.hertin@rxeye.net

Hedvig Andersén, Investment Manager, Industrifonden, and Chairman of the Board of RxEye AB, 
(+46) 08-587 919 38, hedvig.andersen@industrifonden.se

Björn Svanström
, Managing Director, Praktikerinvest, (+46) 08-789 40 37, bjorn.svanstrom@ptj.se

RxEye is a rapidly growing Swedish IT company focused on medical technology enabling public enterprises involved with healthcare to purchase and/or sell quality-assured and cost-effective examination services in the field of diagnostic imaging.  With the use of RxEye, co-operation across organisational boundaries is simplified, making for better care, faster and more correct diagnostics and access to expertise on a global basis.  Simple, flexible and safe.

Industrifonden (www.industrifonden.se) invests in small and medium-sized companies in Sweden with international growth potential. The fund has assets of SEK 3.8 billion and investments in 89 companies in technology, cleantech, life sciences and industry.

Praktikerinvest is a subsidiary of Praktikertjänst. Praktikertjänst is the largest group involved with private dentistry, healthcare and nursing care in Sweden. Its business model is unique with 2,120 shareholders who are themselves responsible for care-provider operations around the country. Sales are approx. SEK 9 billion and the number of employees is approx. 8,770. The group includes fifteen subsidiaries.

RxEye  provides an global collaboration platform for health care use enabling easy access to experts and secure data sharing within medical imaging.

Saving lives through global knowledge sourcing and enable efficient image medicine reading/analyzing services.