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VirtualScopics

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uuid002ix2y

Namestring
VirtualScopics
Legal namestring
VirtualScopics Inc.
Websiteurl
virtualscopics.com
Company typeenum
Private
Founded yearint
2000
Short descriptiontext

VirtualScopics was a Rochester, NY-based clinical trial imaging laboratory founded in 2000 that provided proprietary ultrasound, elastography, and cancer imaging analysis services to pharmaceutical, biotechnology, and medical device sponsors, ultimately acquired and absorbed into ICON PLC's Medical Imaging division.

Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
51–100
akta.pro rankint
HeadquartersRochester, United States
HQ citystring
Rochester
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
clinical trial imaging, medical imaging services, ultrasound imaging, elastography imaging, biomedical imaging
Industry2 codes
1Radiology Imaging Centers (X-ray/CT/MRI/Ultrasound)
CodeHLAFAKAAPrimaryYes
2Advanced Imaging & Specialty Radiology Centers (PET/CT, Nuclear Medicine, Interventional Radiology)
CodeHLAFAKABPrimaryNo
NAICS code2 codes
  • Diagnostic Imaging Centers621512
  • Medical Laboratories621511
SIC code3 codes
  • Services-Medical Laboratories8071
  • Surgical & Medical Instruments & Apparatus3841
  • Services-Commercial Physical & Biological Research8731
Product category
Clinical Trial Imaging Services
Social media profiles2 records
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Medical Imaging Services
TypeProfessional Services
Description

Provided medical imaging services for clinical trials, generating approximately $3 million in annual revenue before acquisition. The company was later integrated into ICON PLC, a global CRO.

rochester.edu
Cost components3 values
Personnel, Technology or R&D, Operations
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

VirtualScopics is an imaging laboratory that provides clinical trial imaging services for pharmaceutical and biotechnology companies developing drugs and medical devices. The company applies proprietary medical imaging technologies, including ultrasound imaging, elastography, and cancer diagnosis techniques, to support clinical research and drug development workflows.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 value
  • Grew to $3 million annual revenue with 40 employees before acquisition
Product and service1 record
1Clinical Trial Imaging Services
CategoryClinical Trial Imaging
Scale indicator4 records

Each record includes

Type, Value, Description, Source

Partnership3 partners
1University of Rochester
Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2000-01-01
Description

Co-founder Kevin Parker was William F. May Professor of Engineering and Applied Sciences at the University of Rochester. The company was co-founded at the university in 2000, indicating a strong academic-industry partnership.

2Hewlett Packard
Strategic tierMinorTypeOEM/ Whitelabel/ Licensing Partner
Description

One of 25 companies that licensed Kevin Parker's patented technologies including the blue noise mask technology.

3ICON PLC
Strategic tierCoreTypeStrategic or Co-development Partner
Description

VirtualScopics was acquired multiple times and became part of ICON PLC, a global contract research organization (CRO). The company was integrated into ICON's Medical Imaging division.

Peers10 records
1Clario (formerly BioClinica)
TypeDirect peer
Description

Clario operates one of the largest clinical trial imaging core labs globally, directly competing with VirtualScopics in medical imaging endpoints, oncology and neurology trial reads, and quantitative image analysis for drug development.

2Perspectum
TypeEmerging player
Description

Perspectum develops quantitative MRI-based imaging biomarkers that support clinical trial endpoints, comparable to VirtualScopics in providing specialized imaging biomarker technology for drug development pipelines.

3IQVIA
TypeBroad incumbent
Description

IQVIA is a global CRO and life sciences services provider offering clinical trial operations including imaging and biomarker services, broadly comparable to VirtualScopics but as part of a much larger services portfolio.

4IXICO plc
TypeDirect peer
Description

IXICO is a clinical trial imaging analytics company providing imaging core lab services to pharmaceutical and biotech sponsors, closely matching VirtualScopics' specialist clinical trial imaging model with a similarly small-headcount, IP-led profile.

5Median Technologies
TypeDirect peer
Description

Median Technologies provides imaging solutions and reading services for oncology clinical trials, directly competing with VirtualScopics in clinical trial image management, advanced visualization, and biomarker quantification.

6ICON plc
TypeBroad incumbent
Description

ICON is the global CRO that ultimately acquired VirtualScopics and now operates the company's Medical Imaging division, providing the broader clinical research services and sponsor relationships within which VirtualScopics' capabilities now sit.

7Imaging Endpoints
TypeDirect peer
Description

Imaging Endpoints is a clinical trial imaging core lab serving biotech and pharma sponsors across oncology and other therapeutic areas, overlapping with VirtualScopics in central review, imaging charter work, and regulatory-grade image analysis.

8Medpace Holdings
TypeBroad incumbent
Description

Medpace is a mid-to-large CRO providing full-service clinical development including imaging endpoints support to biotech and pharma sponsors, broadly comparable to VirtualScopics' role in the clinical trial imaging services chain.

9Resonance Health
TypeEmerging player
Description

Resonance Health is a smaller specialist providing quantitative imaging analysis services for clinical trials and patient care, with overlap to VirtualScopics in niche imaging biomarker services for drug development.

10Parexel International
TypeBroad incumbent
Description

Parexel is a major global CRO offering clinical trial services including imaging core lab capabilities to pharmaceutical sponsors, overlapping with VirtualScopics' clinical trial imaging remit but at significantly greater scale and breadth.

Market position
Customer concentration

Classification, Details

Named customers1 record

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature3 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds2 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors1 record

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

VirtualScopics

Clinical Trial Imaging Servicesvirtualscopics.com

VirtualScopics was a Rochester, NY-based clinical trial imaging laboratory founded in 2000 that provided proprietary ultrasound, elastography, and cancer imaging analysis services to pharmaceutical, biotechnology, and medical device sponsors, ultimately acquired and absorbed into ICON PLC's Medical Imaging division.

VirtualScopics firmographics

Firmographics
Name
VirtualScopics
Legal name
VirtualScopics Inc.
Website
https://virtualscopics.com
Company type
Private
Founded year
2000
Operating status
Acquired
Headcount range
51–100 employees
Short description
VirtualScopics was a Rochester, NY-based clinical trial imaging laboratory founded in 2000 that provided proprietary ultrasound, elastography, and cancer imaging analysis services to pharmaceutical, biotechnology, and medical device sponsors, ultimately acquired and absorbed into ICON PLC's Medical Imaging division.
Ownership category
akta.pro rank

VirtualScopics industry classification

Industry
Product category
Clinical Trial Imaging Services
NAICS
Diagnostic Imaging Centers (621512), Medical Laboratories (621511)
SIC
Services-Medical Laboratories (8071), Surgical & Medical Instruments & Apparatus (3841), Services-Commercial Physical & Biological Research (8731)
akta.pro primary industry
Radiology Imaging Centers (X-ray/CT/MRI/Ultrasound) (HLAFAKAA)
akta.pro secondary industry
Advanced Imaging & Specialty Radiology Centers (PET/CT, Nuclear Medicine, Interventional Radiology) (HLAFAKAB)

Keywords

  • Clinical trial imaging
  • Medical imaging services
  • Ultrasound imaging
  • Elastography imaging
  • Biomedical imaging

Where VirtualScopics is headquartered

Location

Headquarters

HQ city
Rochester
HQ country
United States
HQ region
North America

Offices1 record

Markets served

VirtualScopics business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Technology or R&D, Operations

Revenue model

  1. Medical Imaging Services: Provided medical imaging services for clinical trials, generating approximately $3 million in annual revenue before acquisition. The company was later integrated into ICON PLC, a global CRO.

Go-to-market motion1 record

VirtualScopics product offering

Product offering

Core offering

VirtualScopics is an imaging laboratory that provides clinical trial imaging services for pharmaceutical and biotechnology companies developing drugs and medical devices. The company applies proprietary medical imaging technologies, including ultrasound imaging, elastography, and cancer diagnosis techniques, to support clinical research and drug development workflows.

Differentiator

Problem solved

Functional benefit

Products and services

  • Clinical Trial Imaging Services

Quantifiable outcome

  • Grew to $3 million annual revenue with 40 employees before acquisition

Companies that use VirtualScopics

Customer profile

Named customers1 record

Segments1 record

Ideal customer profiles1 record

VirtualScopics technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature3 records

VirtualScopics partnerships and signals

Strategic signal

Partnerships

Three partnerships are on record, tiered core and minor.

  • University of RochestercoreStrategic or Co-development Partner · 1 January 2000Co-founder Kevin Parker was William F. May Professor of Engineering and Applied Sciences at the University of Rochester. The company was co-founded at the university in 2000, indicating a strong academic-industry partnership.
  • Hewlett PackardminorOEM/ Whitelabel/ Licensing PartnerOne of 25 companies that licensed Kevin Parker's patented technologies including the blue noise mask technology.
  • ICON PLCcoreStrategic or Co-development PartnerVirtualScopics was acquired multiple times and became part of ICON PLC, a global contract research organization (CRO). The company was integrated into ICON's Medical Imaging division.

Scale indicators4 records

VirtualScopics competitors and assessment

Company assessment

Direct peers

  • Clario (formerly BioClinica): Clario operates one of the largest clinical trial imaging core labs globally, directly competing with VirtualScopics in medical imaging endpoints, oncology and neurology trial reads, and quantitative image analysis for drug development.
  • IXICO plc: IXICO is a clinical trial imaging analytics company providing imaging core lab services to pharmaceutical and biotech sponsors, closely matching VirtualScopics' specialist clinical trial imaging model with a similarly small-headcount, IP-led profile.
  • Median Technologies: Median Technologies provides imaging solutions and reading services for oncology clinical trials, directly competing with VirtualScopics in clinical trial image management, advanced visualization, and biomarker quantification.
  • Imaging Endpoints: Imaging Endpoints is a clinical trial imaging core lab serving biotech and pharma sponsors across oncology and other therapeutic areas, overlapping with VirtualScopics in central review, imaging charter work, and regulatory-grade image analysis.

Emerging players

  • Perspectum: Perspectum develops quantitative MRI-based imaging biomarkers that support clinical trial endpoints, comparable to VirtualScopics in providing specialized imaging biomarker technology for drug development pipelines.
  • Resonance Health: Resonance Health is a smaller specialist providing quantitative imaging analysis services for clinical trials and patient care, with overlap to VirtualScopics in niche imaging biomarker services for drug development.

Broad incumbents

  • IQVIA: IQVIA is a global CRO and life sciences services provider offering clinical trial operations including imaging and biomarker services, broadly comparable to VirtualScopics but as part of a much larger services portfolio.
  • ICON plc: ICON is the global CRO that ultimately acquired VirtualScopics and now operates the company's Medical Imaging division, providing the broader clinical research services and sponsor relationships within which VirtualScopics' capabilities now sit.
  • Medpace Holdings: Medpace is a mid-to-large CRO providing full-service clinical development including imaging endpoints support to biotech and pharma sponsors, broadly comparable to VirtualScopics' role in the clinical trial imaging services chain.
  • Parexel International: Parexel is a major global CRO offering clinical trial services including imaging core lab capabilities to pharmaceutical sponsors, overlapping with VirtualScopics' clinical trial imaging remit but at significantly greater scale and breadth.

Market position

Customer concentration

VirtualScopics social profiles

Digital presence

VirtualScopics financial estimates

Financial estimate

Revenue estimate

Valuation estimate

VirtualScopics leadership team

Management profile

Number of profiles

VirtualScopics funding detail

Funding detail

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

VirtualScopics M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VirtualScopics

What does VirtualScopics do?

VirtualScopics is an imaging laboratory that provides clinical trial imaging services for pharmaceutical and biotechnology companies developing drugs and medical devices. The company applies proprietary medical imaging technologies, including ultrasound imaging, elastography, and cancer diagnosis techniques, to support clinical research and drug development workflows.

Is VirtualScopics a public or private company?

VirtualScopics is a private company. It is classified as corporate owned and is currently acquired.

When was VirtualScopics founded?

VirtualScopics was founded in 2000. It employs 51 to 100 people.

Where is VirtualScopics based?

VirtualScopics is headquartered in Rochester, United States, in the North America region.

How does VirtualScopics make money?

One revenue line is on record: medical Imaging Services.

Who are VirtualScopics's main competitors?

Direct peers on record are Clario (formerly BioClinica), IXICO plc, Median Technologies and Imaging Endpoints. Emerging players are Perspectum and Resonance Health. Broad incumbents are IQVIA, ICON plc, Medpace Holdings and Parexel International.

Does VirtualScopics have an API?

No public API is recorded for VirtualScopics.

What industry is VirtualScopics in?

VirtualScopics's product category is Clinical Trial Imaging Services. Its primary akta.pro industry code is HLAFAKAA, Radiology Imaging Centers (X-ray/CT/MRI/Ultrasound), with a secondary code of HLAFAKAB, Advanced Imaging & Specialty Radiology Centers (PET/CT, Nuclear Medicine, Interventional Radiology). Its NAICS code is 621512 and its SIC code is 8071.

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Live signals
Eastman School of MusicKevin Parker, a pioneer in ultrasound imaging, rememberedKevin Parker, the William F. May Professor of Engineering and Applied Sciences at the University of Rochester and a pioneer in ultrasound imaging, died in late December at the age of 71. Parker's research on elastography and cancer diagnosis techniques, along with his invention of the blue noise mask technology, resulted in 33 US patents and 14 international patents licensed to 25 companies, including Hewlett Packard. He co-founded VirtualScopics Inc. in 2000, which grew to about 40 employees and $3 million in annual revenue before being acquired multiple times and becoming part of ICON PLC.GlobeNewswireBioTelemetry, Inc. Announces the Completion of Its Acquisition of VirtualScopics, Inc.BioTelemetry completed its acquisition of VirtualScopics, a clinical trial imaging provider, after an all-cash tender offer. The purchase consideration was approximately $15.0 million, net of cash and debt acquired. The company will disclose the impact on 2016 results at its Q2 earnings call in late July.GlobeNewswireBioTelemetry, Inc. Announces Results of Tender Offer for Shares of VirtualScopics, Inc.BioTelemetry's tender offer for VirtualScopics expired on May 9, 2016, with 1,968,869 common shares and 1,600 Series A shares tendered, representing about 68.6% of voting power. The company accepted all validly tendered shares and expects to merge VirtualScopics into BioTelemetry, with VirtualScopics surviving as a subsidiary.PR NewswireVirtualScopics, Inc. Board Determines Gastineau Partners Proposal Not Reasonably Expected to Lead to a Superior Company ProposalVirtualScopics' Board of Directors has unanimously determined that an unsolicited proposal from Gastineau Partners, LLC to acquire shares of the company's stock would not reasonably be expected to lead to a Superior Company Proposal under the terms of its existing merger agreement with BioTelemetry, Inc. The Board cited that Gastineau Partners lacks committed financing, would not be bound to acquire 75% or more of the voting power as required, and refused to commit to signing a definitive agreement within 45 days. The Board continues to recommend the pending BioTelemetry merger to its stockholders.PR NewswireVirtualScopics, Inc. Cancels Conference Call Due To Recent Announcement Of The Definitive Agreement With BioTelemetry, Inc.VirtualScopics, Inc. announced the cancellation of its scheduled conference call following the March 25 definitive agreement for BioTelemetry, Inc. to acquire it via an all-cash tender offer. The transaction, approved by VirtualScopics' board, involves a tender offer expected to commence around April 11, 2016, and remain open for at least 20 business days. Both companies are required to file specific statements with the SEC regarding the offer and their recommendation to stockholders.GlobeNewswireBioTelemetry, Inc. Signs Definitive Agreement to Acquire VirtualScopics, Inc.BioTelemetry agreed to acquire VirtualScopics in an all-cash tender offer, offering $4.05 per common share and up to $920 per preferred share, for about $15.5 million. The tender offer is expected to start April 11, 2016, with closing in Q2 2016. VirtualScopics reported 2015 revenue of $12.7 million.PR NewswireVirtualScopics, Inc. Schedules 2015 Fourth Quarter And Full Year Financial Results Press Release, Conference Call And WebcastVirtualScopics, Inc. announced it will release its 2015 fourth quarter and full year financial results on March 30, 2016, before markets open. The company's CEO Eric T. Converse and CFO Jim Groff will host a conference call and webcast at 8:30 a.m. ET to discuss the results and provide a business update. This is a routine earnings announcement scheduling notice common among publicly traded companies.PR NewswireVirtualScopics, Inc. Announces Amendment to Exclusive Marketing Agreement with PPD; Provides Additional Opportunities to Develop New Business RelationshipsVirtualScopics, Inc., a clinical trial imaging solutions provider, has amended its alliance agreement with PPD to eliminate marketing exclusivity restrictions effective April 11, 2016. The amendment modifies a 2010 agreement originally focused on oncology trials that restricted both companies from co-marketing with each other's competitors. VirtualScopics' CEO indicated the change provides opportunities to co-market with multiple CROs they currently work with and expects new business wins in 2016 and beyond.