Investors bet big on startup offering a ‘radiology department in a box’

Investors bet big on startup offering a ‘radiology department in a box’ Marty Stempniak

Investors are betting big on a startup company offering a “radiology department in a box.”

OXOS Medical announced Wednesday that it has raised $23 million in additional contributions, with investment firms Parkway Venture and Intel Capital leading the way. The money balloons its fundraising total to $45 million, which will help OXOS to expand the global availability of its product.

“We believe OXOS will have the same transformational impact on radiology as the iPhone had on mobile computing,” Gregg Hill, Parkway Venture Capital managing partner, said in a statement. “Their unique 3D imaging technology, coupled with computer vision and artificial intelligence, makes OXOS devices easy to use.”

Orthopedic surgeon Greg Kolovich, MD, and entrepreneur Evan Ruff first founded the company in 2016. Based in Atlanta, OXOS Medical offers a handheld digital radiographic system (cleared by the FDA in early 2021), “making X-ray available anywhere it is needed.” The company said its customers include orthopedic providers spanning the U.S. Department of Veterans Affairs, urgent care clinics, NFL teams and medical educators, along with imaging centers and bio labs, among others.