StatRad, a leading provider of cloud-based medical image exchange technology and teleradiology services, has entered into a line of credit agreement with Opus Bank of Irvine, CA. Proceeds of the facility will be used to further strengthen the company’s financial position and support its growth.

“This substantial credit facility demonstrates our company’s strong industry track record and double-digit growth trajectory,” said Claude Hooton, StatRad’s President and Chief Operating Officer. “Our company’s new customer prospects and product pipeline are both very strong for 2016. This line of credit improves our liquidity and provides us the flexibility to rapidly execute on our strategic initiatives.”

StatRad recently announced the signing of new teleradiology customers in six states and now provides professional teleradiology services in 38 states. The company’s annual growth rate is exceeding 20 percent as it extends its mission to provide the highest quality, most cost effective teleradiology services. StatRad’s services are fully accredited by the Joint Commission on Accreditation of Healthcare Organizations (JCAHO) and adhere to all policies and standards required for maintaining exceptional quality. In order to achieve the highest industry standards, all StatRad radiologists are board certified, most are subspecialty trained and all are located in the U.S.

StatRad’s other services include the web-based medical image exchange software, RadConnect®, and a web-based medical image management platform. These cloud-based solutions continue to gain rapid adoption as shown by the expansion of RadConnect’s national client base by 40 new hospitals in the past 120 days.