Scan.com, a medical imaging network, has raised £165 million in combined equity and debt financing. The £65 million Series C equity round was led by Noteus Partners, with participation from Aviva, Concord Health Partners, YZR Capital, Oxford Capital and others, alongside £100 million of debt facilities from VerisFi Capital and Atempo Growth supporting M&A and working capital.
The platform brings search, scheduling and results delivery for imaging into a single national API, integrating live and two-way with independent imaging centres' own scheduling systems and electronic medical records. Digital health providers, employer benefit platforms, third-party administrators, health plans and workers' compensation systems plug in with a few lines of code and no separate integrations required. Every referral is matched against live availability, price and subspecialty across the network, scheduling and paperwork are handled automatically, and each report is routed using AI to a radiologist who sub-specialises in the relevant area. A team of care guides stays with the patient throughout, and results are typically returned within 48 hours.
Valued at over $100 billion, the US medical imaging market is one of the largest segments of American healthcare, and remains slow, expensive, fragmented and largely offline, with 85% of scans still booked via fax or phone. Patients often wait weeks for a scan, and a national shortage of radiologists and technologists adds further pressure on the system. Company data shows the same MRI can cost a few hundred dollars at one centre and several thousand at another a few miles away, where price is a poor guide to quality. Some centres are booked weeks out while scanners nearby sit idle, and the marketing and administrative cost of filling them lands on patients too.
Revenue doubled over the past year to surpass a $165 million annualised run rate, and more than 900,000 patients have accessed care through the network globally. Already the United Kingdom's largest medical imaging network, Scan.com expanded into the US in 2023 and now has operations live nationwide. The funding will further expand the network of imaging providers across the US and support investment in the API and agentic AI infrastructure that routes patients, schedules scans and returns diagnostic results.
The US runs around 600 million medical imaging scans a year, and there is still no national infrastructure behind them. Labs got that decades ago with Quest Diagnostics and Labcorp. Imaging never did, and that is what we have built. An employer, a health plan or a digital health app can now connect to imaging capacity nationwide through a single API, and their patients get scanned at a quality-checked center in days rather than weeks, at a price they can see before they schedule. This investment is about making that the standard in US healthcare, rather than the exception.
We have known Charlie and Oli for many years, and few teams have strengthened our conviction as consistently over time as they have. Their bold vision and relentless execution have brought Scan.com to a point where years of investment in patient experience, provider connectivity and proprietary data are increasingly compounding, building an advantage that only continues to deepen with scale and AI. Modern healthcare systems need to deliver better outcomes and lower costs. We led this round as we see Scan.com uniquely positioned to power that future, having built the network and intelligence layer for diagnostic imaging.
Scan.com's ability to improve access to high-quality diagnostic imaging while reducing cost and complexity is directly aligned with Concord's mission to support companies that improve quality, increase access and reduce the cost of care. We look forward to supporting the Scan.com team as they continue to expand their technology-enabled network and improve how imaging is accessed and delivered across the United States.
