Algotec
Medical Imaging Management
Company Overview
Snapshot
Founded in December 1992 by Menashe Benjamin, Algotec operates with 51–200 employees. A significant milestone for Algotec was its acquisition by Philips in August 2019.
Business overview
Algotec provides web-enabled solutions for medical imaging management, reading, processing, reporting, and distribution to healthcare facilities. Its core technology includes teleradiology, picture archiving and communications systems (PACS), radiology information systems, multi-site image-management systems (SuperPACS), clinical data archiving, and eHealth managed services. The company serves the Health Tech & Life Sciences sector, specifically focusing on Digital Healthcare and Clinical Workflow, with a global market reach.
Strategic signal
Algotec's acquisition by Philips in August 2019 marks a strategic consolidation within the medical imaging market. This event signals Philips' continued investment in expanding its healthcare technology portfolio and integrating advanced imaging management capabilities, reinforcing the trend of larger corporations acquiring specialized tech providers to enhance their digital health offerings.
Log in to access full profile ›Company Intelligence Q&A
- When was Algotec founded and by whom?
- Algotec was founded in December 1992 by Menashe Benjamin.
- What is Algotec's primary business?
- Algotec provides web-enabled solutions for medical image management, reading, processing, reporting, and distribution to healthcare facilities.
- Which companies have acquired Algotec?
- Algotec was acquired by Eastman Kodak in January 2003, then became a fully owned subsidiary of Carestream Health in 2007, and was subsequently acquired by Philips in August 2019.
- Who were the investors in Algotec's funding round?
- In November 2002, Algotec received funding from Star Ventures and JAFCO Co.
- What kind of solutions does Algotec offer?
- Algotec offers solutions such as teleradiology, picture archiving and communications systems (PACS), radiology information systems, multi-site image-management systems (SuperPACS), clinical data archiving, and eHealth managed services.