During the summer of 2021, RPL conducted CDD for Foresight Group on its £1.7m investment in Hexarad Group Limited, a very promising early stage teleradiology provider, as part of a £2.3m funding round.
 

RPL’s main task was to map out the market landscape and, in particular, the supply and demand drivers. We assessed the true shortage of radiologists in the UK and the potential future effect on Hexarad’s ability to supply the NHS’ growing demand for radiology services. 

 

We also interviewed a number of Hexarad’s existing customers and contract radiologists as well as independent market experts. In conjunction with desk research, we mapped out the competitive landscape and benchmarked Hexarad against incumbent players and other new market entrants.

 

Based on our research, we were able to assess Hexarad’s revenue projections, identify risks or opportunities to their plans and suggest appropriate sensitivities. 

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