Israeli imaging technology firm Nanox has completed its planned merger with Zebra Medical Vision, a provider of imaging analytics, in an all-stock deal worth around $110m.

The company has initially agreed to acquire Zebra Medical, in August this year.

Zebra Medical is eligible to receive an additional $84m in stock, subject to satisfaction of various performance milestones.

With the closing, the imaging analytics company becomes a part of Nanox.AI.

In addition to the merger with Zebra Medical, Nanox has also completed the acquisition of MDWEB and USARAD, for a consideration totalling around $20m.

The company is also expected to make an additional payment of up to $10m in stock and cash, based on achieving performance milestones.

MDWEB is a decentralised marketplace that connects imaging facilities with radiologists, and USARAD is a provider of teleradiology services.

Nanox chairman and chief executive officer Ran Poliakine said: “The closing of these acquisitions is another step on our path to democratizing the delivery of healthcare.

“Integrating AI-powered imaging analysis and a global teleradiology solution with our ground-breaking Nanox.ARC technology takes us one step closer to creating a global, connected medical imaging solution with the potential to meaningfully expand delivery of healthcare.

“We believe the solution we are building will streamline the medical imaging continuum, from image capture, through analysis to intervention by trained radiologists, and has the power to significantly improve access, reduce costs and enhance efficiency, thereby dramatically increasing the delivery of healthcare.”

Zebra Medical Vision holds a large volume of privately held data repository and a regulatory framework comprising eight FDA approvals.

Its algorithms leverage patient imaging data available with the healthcare system, to facilitate early diagnosis of previously undetected common chronic diseases.

USARAD has a wide global network of more than 300 certified radiologists, and its affiliate Medical Diagnostics Web offers a decentralised blockchain platform for healthcare facilities.

Nanox.ARC, together with Zebra Medical, USARAD, and MDWEB is expected to support Nanox with a network of radiologists, and advanced AI algorithms.

The global, end-to-end medical imaging solution will facilitate the rapid interpretation of medical images into actionable medical interventions, said Nanox.