Royal Health, the software division of Royal Solutions Group and provider of radiology software and workflow platforms, announced the closing of a minority investment led by HealthQuest Capital, a growth capital firm that concentrates on transformative healthcare companies.
According to Royal Health, while the funding amount continues to be undisclosed, the recapitalization resulted in an almost eightfold increase in enterprise valuation since the entry of Royal Health’s 2019 investors.
The aim of the investment is to enable Royal Health to scale its operations, enhance the company’s technology offerings and promote expansion in both U.S. and international markets.
“This partnership with HealthQuest Capital represents a significant milestone for Royal,” Peter Nassif, CEO and founder of Royal Health, said in a statement.
“Their expertise and shared commitment to advancing healthcare align perfectly with our mission to revolutionize radiology with smarter, more efficient solutions. This investment will allow us to accelerate delivering exceptional value to imaging centers, healthcare providers and patients.”
Sharath Reddy, partner at HealthQuest Capital, commented that Royal Health is at the forefront of transforming radiology with cutting-edge technology that strengthens workflows and delivers better outcomes for patients and providers.
“We’re proud to support their continued growth and innovation as they redefine the future of radiology,” Reddy said in a statement.
THE LARGER TREND
Earlier this month, Royal Health was selected by LucidHealth to support its multistate outpatient imaging-center operations with a single-vendor platform for comprehensive radiology services.
In March, Royal Solutions Group expanded its partnership with Concord Technologies. The integration of additional technology from Concord’s Practical AI suite of data-processing solutions permits both typed and handwritten notes to be scanned and the data then extracted and integrated into workflows.
In 2023, Royal Solutions Group, expanded the use of eviCore intelliPath Connected, an eviCore healthcare solution to simplify the prior authorization process. The aim of the connection is to reduce the administrative burden on radiologists and streamline the prior authorization process for radiologists and their patients.
