Royal Health, the software division of Royal Solutions Group and a leading provider of radiology software and workflow platforms, announced it has closed a minority investment led by HealthQuest Capital, a prominent growth capital firm focused on transformative healthcare innovations. While the exact financial terms remain undisclosed, this investment marks a pivotal milestone, resulting in an impressive near eightfold increase in Royal Health’s enterprise valuation since its 2019 investor round.
The investment will fuel Royal Health’s strategic priorities: scaling operations, enhancing its suite of technology solutions, and expanding its reach in domestic and international markets. These initiatives aim to position Royal Health as a global leader in radiology workflow innovation.
“This partnership with HealthQuest Capital represents a significant milestone for Royal” said Peter Nassif, CEO and founder. “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”
HealthQuest Capital’s Partner, Sharath Reddy, praised Royal Health’s role in shaping the future of radiology. “We're proud to support their continued growth and innovation as they redefine the future of radiology”
Building Momentum in Radiology
Royal Health’s new partnership builds on several recent achievements. Earlier this month, the company was selected by LucidHealth to provide a unified, single-vendor platform to support multistate outpatient imaging operations, showcasing its ability to scale effectively.
Earlier partnerships also underscore Royal Health’s growth trajectory. In March 2024, the company expanded its collaboration with Concord Technologies, incorporating AI-powered data extraction for typed and handwritten notes, enhancing radiology workflows. In 2023, the expanded use of eviCore intelliPath Connected simplified prior authorization processes, significantly reducing administrative burdens for radiologists and enhancing patient care.
Larger Impact
HealthQuest Capital’s investment highlights the growing interest in specialized healthcare technology that drives operational efficiencies and improves patient care. With radiology at the forefront of healthcare innovation, Royal Health’s advancements pave the way for more streamlined, patient-centric solutions.
This partnership positions Royal Health to further define the future of radiology, empowering healthcare organizations worldwide.
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