Press Release

NOVACAP Makes Strategic Investment to Accelerate Intelerad’s Growth

Montreal, Canada – February 2, 2016 – NOVACAP, one of Canada’s leading private equity firms, today announced that it has finalized a significant investment in Intelerad Medical Systems™ Incorporated, a leader in cross-enterprise medical imaging solutions, headquartered in Montreal, Canada. The transaction is being financed through the NOVACAP TMT IV Fund, which specializes in partnering with exceptional companies that have high growth potential in the technology, media and telecommunications sectors.

With 300 employees and offices in Canada, USA, the United Kingdom, and Australia, Intelerad develops software solutions that seamlessly manage medical images, workflow and data. Intelerad’s Picture Archiving and Communication Systems (“PACS”), Radiology Information Systems (“RIS”) and workflow solutions are used by hospitals, imaging centers and radiology groups to increase productivity and streamline medical imaging workflows. These solutions are instrumental at improving its clients’ efficiency while allowing them to deliver premium imaging services.

“Intelerad’s success can be attributed to its innovative solutions and best-in-class customer service,” said François Laflamme, Senior Partner at NOVACAP. “Our investment will allow Intelerad to enhance its operations, engage in strategic growth opportunities, and accelerate funding of key research and development programs, to continue building the Company’s leading suite of products. It is already well-positioned in the healthcare IT market and we look forward to working directly with its team to help it grow the Company even further.”

The new partnership will focus on expanding the reach of Intelerad’s products and solutions, such as InteleOne XE, a cross-enterprise workflow solution that provides clinicians unified access to medical images and reports stored across disparate RIS, HIS, EMR, PACS and VNA systems. By connecting to data where it resides, and allowing sites and systems to be easily added or removed from the imaging ecosystem with minimal interruption and impact on care, InteleOne XE addresses interoperability, a growing issue for integrated healthcare groups.

“Medical imaging is an evolving industry and we’ve been conscious to adapt – developing features and benefits that allow our customers to remain competitive in their market,” said Randall Oka, Intelerad’s President and CEO. “By teaming-up with NOVACAP, we will benefit from their expertise in growing successful organizations, and we will be working together to accelerate our growth and take Intelerad to the next level.”