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PETACH TIKVA, Israel - Nano-X Imaging Ltd (NASDAQ:NNOX) announced Wednesday it has agreed to acquire VasoHealthcare IT Inc. from Vaso Corporation (OTCQX:VASO) for a total consideration of up to $800,000, representing a modest acquisition for the medical imaging technology company with a current market capitalization of approximately $212 million.
The transaction, expected to be completed within weeks, includes a $200,000 cash payment at closing and up to $600,000 in performance-based earnout payments over two years, contingent upon revenue retention targets for existing customers. According to InvestingPro data, Nano-X holds more cash than debt on its balance sheet, with a comfortable current ratio of 4.19, positioning the company well to finance this acquisition despite its ongoing cash burn.
VasoHealthcare IT specializes in healthcare information technology implementation for hospitals and healthcare providers across the United States, with capabilities including healthcare systems integration, workflow optimization, data migration, user training, and nationwide support for medical imaging.
According to the press release, the acquisition aims to accelerate the deployment of Nanox's FDA-cleared AI solutions that analyze routine CT scans for indicators of chronic diseases. The integration is intended to enable faster deployment and adoption while reducing time-to-value for healthcare providers.
"As we scale our AI business in the U.S., deployment pace and implementation quality are critical to success," said Erez Meltzer, CEO and Acting Chairman of Nanox. "Bringing these capabilities in-house will allow us to control the entire customer experience—from software delivery through go-live support."
Dr. Jun Ma, President and CEO of Vaso, stated that the company believes the transaction "will be a positive development for our shareholders and will provide a strong future for the VasoHealthcare IT team as part of Nanox."
Nanox focuses on medical imaging technologies based on AI and digital X-ray source technology, while Vaso Corporation operates through three subsidiaries in healthcare sales, information technology, and medical device design.
The acquisition remains subject to certain conditions before completion.
In other recent news, Nano-X Imaging Ltd has announced several key developments. The company entered a strategic reseller partnership with 3DR Labs to expand its AI imaging solutions to over 1,800 hospitals and imaging centers in the United States. This partnership will integrate Nanox.AI's FDA-cleared software solutions, including HealthCCSng for cardiac analysis, HealthOST for bone density evaluation, and HealthFLD for liver attenuation measurement, into 3DR Labs' services. Additionally, Nano-X Imaging will deploy its Nanox.ARC imaging system at Hospital Privé Jacques Cartier MASSY near Paris. This system, which received CE Mark certification in February 2025, will be used in clinical trials for lung cancer screening in collaboration with Olympe Imagerie. In another development, Cantor Fitzgerald maintained its Overweight rating on Nano-X Imaging, setting a price target of $6.00. This follows Nano-X Imaging's announcement of a healthcare partnership with Monarch Medical Management and Billing LLC. The collaboration aims to deploy imaging solutions in various healthcare facilities, including workers' compensation centers and nursing homes.
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