Bayer Acquires Blackford Analysis Ltd. Bolstering the Company's Position in Digital Medical Imaging

BayerBayer announced the acquisition of the global strategic imaging AI platform and solutions provider Blackford Analysis Ltd. The acquisition is part of Bayer's strategy to drive innovation in radiology, including the development and adoption of AI within the clinical workflow, with the goal to ultimately improve patient care and advance Bayer’s position in digital medical imaging.

"Adding Blackford and its AI technology to our radiology portfolio secures Bayer an excellent position in the fastest growing segment within the overall global radiology industry," said Stefan Oelrich, Member of the Board of Management, Bayer AG and President of Bayer's Pharmaceutical Division. "This acquisition complements our comprehensive radiology portfolio and nourishes our engagement to drive innovation in digital health. We are pleased to join forces with Blackford and their exceptional team to optimally utilize our combined expertise in healthcare technology with the aim to deliver true value to radiologists and their teams for the benefit of their patients."

Blackford, which has a presence in the United Kingdom and the United States, provides infrastructure and access to a rich clinical application (ClinApp) ecosystem focused on imaging and analytics. The acquisition follows a development and license agreement between both companies in 2020 that laid the foundation for Bayer’s recently launched medical imaging platform, Calantic™ Digital Solutions. Building on technology from Blackford and adding additional workflow and analytics components, Calantic Digital Solutions delivers access to applications, including those enabled by AI, for medical imaging.

Blackford will continue to operate as an independent organization on an arm’s length basis to preserve its entrepreneurial culture as an essential pillar for nurturing successful innovation. The company will remain accountable to advance its technology, channel partnerships and ClinApp portfolio while benefiting from the experience, infrastructure and reach of Bayer as a global pharmaceutical company. The acquisition is expected to close later this year, pending the satisfaction of customary closing conditions.

"Blackford exists to improve the lives of patients and populations by unlocking the adoption and benefits of medical imaging AI. We investigated many routes to scale our business to deliver our mission and were delighted by Bayer's invitation to deepen our partnership, whilst continuing to operate independently based on Bayer's well-established arm’s length model," said Ben Panter, Chief Executive Officer, Blackford Analysis. "Combining our knowledge and experience as one of the leading platform providers in the industry with Bayer's advanced radiology portfolio will enable us to provide solutions to deliver ongoing clinical value to radiologists and their teams."

The overall global medical imaging AI field with sales of more than USD 400 million in 2021 is expected to continue growing dynamically, with an estimated compounded annual growth rate of more than 26 percent (2020 to 2026) reaching USD 1.36 billion by 2026. Innovation powered by AI is needed more than ever. Aging populations and changing lifestyles are leading to an increase in chronic conditions, such as cardiovascular disease and cancer. Consequently, the demand for medical imaging to detect diseases, guide treatment decisions and support therapy planning is growing. AI comes with the value proposition to aid diagnosis and increase the throughput of radiological examinations.

About Radiology at Bayer

As a true life-science company with a heritage of over 100 years in Radiology, Bayer is committed to providing excellence, from innovative products to high-quality services to support efficient and optimized patient care. Bayer is offering a comprehensive portfolio of contrast media for computed tomography (CT), X-Ray, and magnetic resonance imaging (MRI), devices for their precise administration, informatics solutions as well as a medical imaging platform delivering access to applications, including those enabled by AI. Altogether, the Radiology products from Bayer generated €1.8 billion sales in 2021. Following the company's ambition to outperform the radiology segment's average annual growth of 5% until 2030, Bayer is strongly committed to research and development, which includes using artificial intelligence and driving innovation in medical imaging. Each of these offerings provide effective tools to support radiologists in their mission to deliver treatment critical answers and a clear direction - from diagnosis to care.

About Blackford Analysis

Blackford provides tailored tools and services to unlock the value of imaging AI, drive efficiencies and improve patient outcomes. For over a decade, Blackford has worked in partnership with leading healthcare organizations and ground-breaking technology providers to integrate best-fit AI into clinical workflows to realize ongoing value. Partnering with Blackford provides healthcare organizations access to a wide portfolio of AI solutions via a single tried-and-tested platform.

The collaboration with Bayer has its roots in 2019, when Blackford was among the selected start-ups of Bayer’s G4A Digital Health Partnerships Program that year.

About Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2021, the Group employed around 100,000 people and had sales of 44.1 billion euros. R&D expenses before special items amounted to 5.3 billion euros.

Most Popular Now

Open Call HORIZON-JU-IHI-2022-03-05: Dig…

Mental health disorders represent an area of severe unmet public health need. This has been further negatively impacted by the COVID-19 pandemic, with a substantial increase in the number and...

The Future of Medicine is Data

At the 2023 Annual J.P. Morgan Healthcare Conference, Owkin Co-founder and CEO Thomas Clozel, MD will outline how data is the future of medicine - from the development of new...

Brain Area Necessary for Fluid Intellige…

A team led by UCL and UCLH researchers have mapped the parts of the brain that support our ability to solve problems without prior experience - otherwise known as fluid...

Study Surveys Landscape of Apps Built on…

A study led by Regenstrief Institute Research Scientist Titus K. Schleyer, DMD, PhD, is among the first to survey the current landscape of FHIR® apps, providing a snapshot of how...

New Computer Program 'Learns' to Identif…

Genetic mutations cause hundreds of unsolved and untreatable disorders. Among them, DNA mutations in a small percentage of cells, called mosaic mutations, are extremely difficult to detect because they exist...

Applications Open for SpinLab Accelerato…

The start-up accelerator supports entrepreneurial and innovative teams that want to grow sustainably and successfully scale their business model. With a strong hands-on mentality and a lot of passion, the...

Allscripts Announces Corporate Name Chan…

Allscripts Healthcare Solutions, Inc. announced that, effective January 1, 2023, it has changed its name to Veradigm Inc. (NASDAQ: MDRX). Allscripts had been transitioning its solutions to the Veradigm brand...

Bayer to Accelerate Drug Discovery with …

Bayer AG and Google Cloud today announced a collaboration to drive early drug discovery that will apply Google Cloud's Tensor Processing Units (TPUs), which are custom-developed accelerators designed to run...

220M€ Investment in Testing and Experime…

To make the EU the place where AI excellence thrives from the lab to the market, the European Union is setting up world-class Testing and Experimentation Facilities (TEFs) for AI. Together...

Artificial Nerve Cells - Almost Like Bio…

Researchers at Linköping University (LiU), Sweden, have created an artificial organic neuron that closely mimics the characteristics of biological nerve cells. This artificial neuron can stimulate natural nerves, making it...

AI Tool Developed to Predict Risk of Lun…

Lung cancer is the leading cause of cancer death in the United States and around the world. Low-dose chest computed tomography (LDCT) is recommended to screen people between 50 and...

For Shared Decision-Making, Telemedicine…

Telemedicine may be just as effective as in-person visits when it comes to shared decision-making and communication for patients undergoing a first-time surgery consultation, according to a study published as...