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Israeli medical imaging firm Nanox raises $26 million

TEL AVIV (Reuters) - Israeli medical imaging company Nanox Imaging Ltd said on Thursday it raised $26 million with the participation of strategic investor Foxconn, bringing the total funds raised for its Nanox System to $55 million.

Foxconn joined Fujifilm, SK Telecom and others who have invested in the project, as part of a round that is aimed to support the development, commercialization and deployment of the Nanox System.

The product is composed of a digital X-ray device and cloud-based software that will be designed to provide an end-to-end medical imaging service.

It is meant to promote early detection of medical conditions that are discoverable by X-ray and X-ray based imaging modalities such as CT, mammography, fluoroscopy and angiogram. The company said it believes its technology will enable it to build imaging systems at lower costs than existing systems.

Reporting by Tova Cohen; Editing by Ari Rabinovitch