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LOS ANGELES, Nov. 07, 2019 (GLOBE NEWSWIRE) -- RadNet, Inc. (NASDAQ: RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services today reported it has created a multifaceted partnership with Whiterabbit.ai utilizing artificial intelligence, other technologies and operational protocols to address solutions for breast cancer imaging.
The partnership initially will focus on processes and technology designed to improve compliance of women with respect to their annual or bi-annual screening mammography exams. The two companies recently completed a pilot program in RadNet’s Delaware and Florida markets which combined the use of machine learning and patient outreach to bring women into RadNet facilities for their screening exams. The trial substantially increased patient compliance, improved operational protocols and drove a level of customer service more similar to other consumer-facing industries.
Based upon the success of the pilot program, RadNet has licensed the Whiterabbit.ai technology and back-end operational platform. Together, RadNet and Whiterabbit.ai plan to deploy the platform to all other RadNet markets during the first half of 2020. In addition to the system-wide roll-out and platform licensing arrangement, RadNet has made an equity investment in Whiterabbit.ai and will work with Whiterabbit.ai to develop future solutions, including personal computer and mobile phone applications and artificial intelligence algorithms to automate the interpretation of mammography images.
Dr. Howard Berger, Chairman and Chief Executive Officer of RadNet, noted, “The partnership arrangement with, and investment in Whiterabbit.ai reiterates our commitment to position RadNet with cutting-edge technology solutions that we believe will transform our industry in the coming years. We expect that machine learning, big data applications and automation algorithms will help us to deliver our services more cost effectively, efficiently and accurately, while enhancing the patient experience.”
Dr. Berger continued, “We are pleased to formalize our relationship with Whiterabbit.ai as a customer, investor and future development partner. Having measured demonstrable success during our pilot phase, we are optimistic that we can create similar improvements in our other markets as we deploy Whiterabbit.ai technology throughout RadNet’s regional operations.”
Rakesh Mathur, Whiterabbit.ai founder and Chief Executive Officer noted, “We are thrilled that Radnet, the largest U.S. owner and operator of diagnostic imaging centers, is the first customer for our AI Radiology suite. Radnet shares our mission to improve the early detection and diagnostics of breast disease, and ultimately reduce suffering by materially reducing the incidence of late-stage cancers. We are working with RadNet’s team to create solutions consistent with our shared visions of customer-focused medicine and attention to the patient experience. The objectives of our collaboration with RadNet are to improve mammography compliance by women across the country, enhance their imaging center experience and drive more positive outcomes through early detection.”
About RadNet, Inc.
RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of 340 owned and/or operated outpatient imaging centers. RadNet's core markets include California, Maryland, Delaware, New Jersey and New York. In addition, RadNet provides radiology information technology solutions, teleradiology professional services and other related products and services to customers in the diagnostic imaging industry. Together with affiliated radiologists, and inclusive of full-time and per diem employees and technicians, RadNet has a total of over 8,000 employees. For more information, visit http://www.radnet.com.
Whiterabbit.ai is dedicated to developing robust AI technologies to improve the speed and accuracy of cancer detection in radiology. The company is developing solutions to increase compliance, eliminate stress and anxiety for women, increase early detection, improve outcomes and reduce costs, while treating patients as consumers. The company’s AI-enabled technologies could help effectively eradicate late-stage breast cancers in the United States. Whiterabbit.ai is based in the heart of Silicon Valley. This announcement with RadNet marks the end of Whiterabbit.ai’s stealth period. Learn more at www.whiterabbit.ai.
Mark Stolper, 310-445-2800
Executive Vice President and Chief Financial Officer