Ludwig Burger and Patricia Weiss report that Bayer has agreed to acquire Blackford Analysis Ltd., a British AI developer that specializes in medical imaging diagnosis. The move is part of the German company’s strategy to expand its radiology business. Financial details of the deal were not disclosed.
Bayer’s radiology business, which includes contrast agents, injection systems, and software, generated €1.8 billion in sales in 2021. During the third quarter of last year, the segment saw a 7% growth due to increased scans for cardiovascular and tumour diseases.
Blackford was founded in 2010 and has been backed by Archangel Investors, TRI Cap, Scottish Enterprise, and Old College Capital. At current exchange rates, €1 is equal to $0.9239.