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ΝΑΝΟΧ Nanox Announces Second Quarter 2021 Results and Provides Business Update August 10 , 2021 Announces entry into acquisition via merger agreement with Zebra Medical Vision LTD . and binding letter of intent with USARAD Holdings Inc. to create a globally connected end - to - end radiology solution and population health platform Chairman and Chief Executive Officer , Ran Poliakine , will continue his role as Executive Chairman ; Erez Meltzer , current Board member , will become the CEO in January 2022 Reports progress towards global supply chain development Ended the second quarter with cash and marketable securities of $ 193.4 million Management to host conference call and webcast today , August 10 , at 8:30 AM ET Management to host public streaming event on August 16 , at 08:30 AM ET NEVE ILAN , Israel , Aug. 10 , 2021 ( GLOBE NEWSWIRE ) -- NANO - X IMAGING LTD ( NASDAQ : NNOX ) ( " Nanox " or the " Company " ) , an innovative medical imaging technology company , today announced results for the second quarter ended J une 30 , 2021 and provided a business update . Nanox today announced entry into two agreements intended to create a globally connected , end - to - end radiology solution . The Company announced that it has entered into an agreement to acquire a leading medical artificial intelligence ( AI ) developer Zebra Medical Vision in an all - stock transaction for $ 100 million upfront and another $ 100 million tied to achievement of specific milestones . Nanox also announced today that it has entered into a binding letter of intent to acquire USARAD and its related company , Medical Diagnostics Web , or MDW . USARAD together with MDW operates a global network of over 300 radiologists . Total consideration for USARAD and MDW is $ 30 million , comprised of $ 21 million of Nanox shares and $ 9 million in cash " Expanding access to medical imaging via widespread deployment of the Nanox . ARC solves just one of the obstacles to achieving true population health management , " stated Ran Poliakine , Chairman and Chief Executive Officer of Nanox . " The global shortage of trained radiologists represents a significant bottleneck in the imaging process . The Nanox.ARC , together with the acquisitions of Zebra Medical Vision and USARAD , if consummated , would allow us to support our systems with a large network of radiologists empowered with highly advanced Al algorithms . This end - to - end , globally connected medical imaging solution will allow for the rapid interpretation of medical images into actionable medical interventions and would also represent a significant step toward our vision of true population preventive health care . " With regards to the ongoing development of the multi - source Nanox.ARC , as you may recall , one of the highlights since our last quarterly update was the FDA 510 ( k ) submission for the first version of the multi - source Nanox.ARC . We are reiterating our goal of deploying 15,000 by the end of 2024 . " As we prepare to scale globally and ramp up our manufacturing capabilities , I have asked Erez Meltzer , who has served as Director at Nanox for the last two years , to step forward and become our CEO . Erez is a seasoned public company executive who has a tremendous amount of experience in scaling organizations to become global corporations . We are fortunate to have a highly experienced executive of Erez's caliber on our Board , and I have every confidence that he has the ideal skill set and background to achieve long - term success.I look forward to working alongside him and the rest of the team in my role as Executive Chairman , in which I intend to be very involved in the company's longer - term initiatives and future collaborations . " I would also like to welcome Ran Daniel as our new Chief Financial Officer , and he will join our company on August 15th . Ran brings to the team over 25 years of financial and business management experience and will be based in the U.S. as we work to bolster our U.S. presence . Finally , I would like to thank Itzhak Maayan for his many contributions to Nanox , most notably the completion of our successful initial public offering last year , " Mr. Poliakine concluded . Second Quarter 2021 and Recent Developments : • Announced acquisition agreement with Zebra Medical Imaging and binding letter of intent with USARAD to create a globally connected end - to - end radiology solution for population health management . • Executed MSaaS agreement with EILEENO Pharma for the deployment of 1,000 Nanox.ARC units across Nigeria . With this agreement , the Company now has contracts in place to deploy 6,150 Nanox.ARC units , plus agreements with USARAD and SK Telecom to deploy an additional 5,500 across the US , Korea and Vietnam , pending local regulatory approvals and satisfactory completion of user acceptance tests . • Submitted 510 ( k ) application for the first version of its multi - source Nanox.ARC . • Continued to progress technology transfer to Nanox's wholly owned Korean subsidiary to enable production of the silicon MEMS chip that is integral to the Nanox digital X - ray source . The subsidiary is leveraging SK Telecom's expertise in semiconductors under the joint collaboration between the two companies in establishing a permanent chip facility . • Chairman and Chief Executive Officer , Ran Poliakine , will continue his role as Executive Chairman ; Erez Meltzer , current