Scan.com has raised $220 million through a combination of equity and debt financing to develop its medical imaging platform in the United States. Of this funding, $90 million was allocated in an equity round led by Noteus Partners. Aviva, Concord Health Partners, YZR Capital, and Oxford Capital also participated in the round.
Debt financing of $130 million was provided by VerisFi Capital and Atempo Growth. This fundraising followed a period of rapid growth for the company, as Scan.com doubled its revenue over the last year. The company plans to continue investing in technologies that connect healthcare organizations with imaging service capabilities across the country.
The US medical imaging market is valued at over $100 billion, but a significant portion remains fragmented, expensive, and reliant on outdated offline processes. Approximately 85% of all scans are conducted via fax or phone. Patients may wait weeks for appointments, while some imaging centers have unused scanner capacity.
Scan.com's goal is to connect patients with accessible imaging capacity through a national technology network. The company notes that the cost of the same MRI scan can vary significantly between neighboring centers.
The company's platform integrates search, scheduling, and results delivery into a single API. Healthcare providers can connect to imaging service providers without creating separate integrations for each clinic. Charlie Bullock, co-founder and CEO of Scan.com, stated: 'Labs did this decades ago with Quest Diagnostics and Labcorp. Imaging never did, and that's what we built.'
Scan.com uses artificial intelligence throughout its platform to automate various stages of the imaging process. Referrals can be matched with providers based on availability, price, and clinical specialization. The platform also manages scheduling and administrative documentation. Results are sent to radiologists with the relevant specialized expertise. The company combines these automated processes with patient care guidelines, allowing it to maintain patient support while reducing administrative burden.
Results are typically provided within 48 hours. Through the company's network, over 900,000 patients have received assistance globally. Scan.com operates in the UK and the United States. The company began operations in the US in 2023 and now has nationwide operations.
The new capital will be directed towards further expanding Scan.com's network of imaging service providers in the US. Additionally, the company is investing in its API infrastructure and agent AI. These investments aim to improve the process of matching patients, scheduling them, and connecting them with diagnostic results.
Scan.com believes that increasing connectivity can help unlock existing imaging capacity. Currently, most of the company's revenue is generated in the United States, and about 80% of its employees are also based there. After doubling its revenue last year, Scan.com's annual revenue run rate exceeded $165 million. Last year, the company generated $85 million in revenue. Bullock noted that Scan.com remains a small player in the broader US market, but the company aims to become a leading provider of diagnostic services as it expands its network.
The business was founded in 2021 by Bullock along with Oliver Knight, Joe Daniels, Jasper Nissim, and Khalid Latif. Initially, the company focused on solving access to imaging and capacity issues in the UK. Since then, the company has expanded its model to the much larger US market. With the latest funding, Scan.com positions its platform as infrastructure for the fragmented diagnostic imaging market. The combination of provider connectivity, AI-driven automation, and national scheduling can help reduce waiting times and increase pricing transparency.