NZ's Volpara buys Boston-based CRA Health for $25m

Dr Jean Weigert, radiologist of The Hospital of Central Connecticut using Volpara Solutions software. Photo / Supplied

Wellington-based, ASX-listed heath technology firm Volpara has bought CRA Health, a US leader in breast cancer risk assessment, for US$18 million ($25m).

A further US$4m is payable upon CRA meeting of key performance and staff-retention targets.

Volpara said CRA is profitable, with annual recurring revenue of over US$4m ($6.2m).

The Boston-based company's software is integrated with the major electronic health record (EHR) and genetics companies, Volpara said.

Volpara's breast care platform assists in the delivery of personalised breast care, the company said.

CRA receives patient information, including breast density, and returns the risk of breast cancer alongside appropriate recommendations, including whether additional imaging or genetics testing.

Volpara chief executive Dr Ralph Highnam said the acquisition of CRA was a significant move.

"CRA has a strong science background, just like Volpara, and provides us with world-class knowledge about risk and genetics," he said in a statement.

The US company was spun out of Massachusetts General Hospital, a Harvard Medical School teaching hospital.

Volpara's shares last traded on the ASX at A$1.56, up 7.5c.