New Zealand’s leading provider of breast imaging analytics Volpara Health Technologies has reportedly acquired CRA Health LLC, a Boston-based breast cancer risk assessment firm, for USD 23 million. The acquisition will provide Volpara complete access to CRA’s renowned technology, a cloud-based breast cancer assessment software.
Moreover, sources confirmed that CRA’s technology complements Volpara’s advanced medical breast imaging and analytics solutions which are designed to not only improve decision-making but also aid during early breast cancer detection.
Volpara will pay around USD 18 million upfront for the acquisition, while the remaining USD 4 million will be paid after CRA Health reaches key performance as well as staff retention targets in the next 18 months.
It is to be noted that CRA Health is a profitable organization, with an ARR (annual recurring revenue) of over USD 4 million. The company’s cloud-based software is used to accumulate patient information such as breast density and risk of acquiring breast cancer
CEO of Volpara Health Dr. Ralph Highnam was reported saying that CRA is not only a leading provider of risk assessment technologies but also has prevailing integrations across several major genetics companies. He added that the acquisition will allow Volpara to offer advanced expertise regarding risk and genetics owing to CRA’s strong science background.
Meanwhile, Chester Black, the outgoing Chairman of CRA Health mentioned that the company is thrilled to team up with Volpara, a company that has an advanced as well as validated technology platforms in the breast screening business space.
CRA’s software can be integrated into several prominent EHR (electronic health record) systems and can recommend if genomic testing or additional imaging is required. This will add another layer of technical expertise to Volpara’s breast cancer prevention and detection portfolio, sources claimed.
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