# Imaging Company Paid $1.85M for Radiology Data: Case Study

> A 35-person medical imaging company was paid $1.85 million to license de-identified imaging studies with signed radiology reports. One outcome only.

Canonical: https://origindatapartners.com/case-studies/medical-imaging-data-license-1-85-million
By: Origin Data Partners
Status: Published
Published: 2026-11-12
Updated: 2026-11-12
Sources checked: 2026-11-12

## Quick answer

A 35-person medical imaging company was paid $1.85 million for licensing de-identified imaging studies with their signed radiology reports. This is one deal Origin helped place, not a forecast: what a buyer pays depends on the records, the rights, demand and the agreed scope.

## Key points

- The records were de-identified imaging studies paired with their signed radiology reports.
- The pairing matters: an image with the radiologist's finding is a labeled example.
- HIPAA allows de-identification by Safe Harbor or Expert Determination. Image files also need their headers and burned-in text cleaned.
- A data license is separate from a medical practice valuation and does not sell the company.

## Deal facts

These are deals Origin helped place. Company and buyer names stay private, and each is an individual outcome, not a forecast for another company: what a buyer pays depends on the records, rights, demand and agreed scope. See [all case studies](https://origindatapartners.com/case-studies).

- Company type: Medical imaging company
- People: 35
- Records licensed: De-identified imaging studies with their signed radiology reports
- Amount paid: $1.85 million


## What was a 35-person imaging company paid for its data?

A 35-person medical imaging company was paid $1.85 million for licensing de-identified imaging studies with their signed radiology reports. It is one deal Origin helped place and an individual outcome, not a forecast for another imaging center or radiology group.

Names stay private. This page explains what these records show an AI model, the HIPAA de-identification rules that apply, what published programs say and how Origin's process works. Origin's [guide to licensing medical imaging data](https://origindatapartners.com/guides/license-medical-imaging-data-ai) covers the topic in more depth.


## What records did the medical imaging company license?

Imaging studies, each with the signed report a radiologist wrote about it, de-identified before licensing. The table sets out the parts of such a record.

| Record part | What it shows an AI model | What must be removed |
| --- | --- | --- |
| Image series (for example CT, MRI, X-ray) | What normal and abnormal anatomy looks like, across many patients and scanners | Identifying text burned into the pixels; anything that could show a recognizable face |
| File headers (DICOM metadata) | Scanner, protocol and series details that explain how each image was made | Names, medical record numbers, dates (except year), accession numbers and other identifiers |
| Signed radiology report | The expert reading: findings, impression and recommendation, tied to the images | Patient names, dates, referring physician details and other identifiers in the text |
| Link between study and report | Turns an image into a labeled example | Any original ID that could be traced back; replace with a new code |


## What do AI companies do with imaging studies and radiology reports?

Mercor names healthcare as a target industry, listing "Healthcare Clinical notes, claims, intake forms" ([Mercor](https://www.mercor.com/data/)). For imaging, the value lies in the pairing: each study comes with the finding a qualified reader signed. That is the kind of labeled example a developer needs to build or test a tool that reads images or drafts reports.

Origin compares health data programs in [health data licensing programs compared](https://origindatapartners.com/guides/health-data-licensing-programs-compared). For clinical records beyond imaging, see [licensing patient records](https://origindatapartners.com/guides/license-patient-records-ai-training).


## How much is a medical imaging company's data worth?

In this deal, $1.85 million for a 35-person company. It is one outcome; Origin's [case studies](https://origindatapartners.com/case-studies) list every deal individually. The programs below publish general figures for company data, not a price for imaging data.

These are what the programs publish, not offers. Handshake's estimate form adds: "This is an indicative estimate only and is not an offer to purchase your data." ([Handshake AI](https://joinhandshake.com/ai/data-partnerships/license/); [Mercor](https://www.mercor.com/data/); [micro1's published data partnership terms](https://origindatapartners.com/guides/micro1-company-data-partnerships).)

| Published program | What it says about payment | Who it says it wants | Read on |
| --- | --- | --- | --- |
| [micro1 company data partnerships](https://origindatapartners.com/guides/micro1-company-data-partnerships) | Payments "typically ranging from $100K to over $3M"; tiers start at "$100K-500K Qualified Enterprise Data Partnerships" | "established companies with 30+ full-time employees" | 12 November 2026 |
| [Handshake AI data partnerships](https://origindatapartners.com/guides/handshake-ai-data-partnerships) | "$100K to $4M+ payouts" | "companies with 20+ full time employees & 3+ years in operation" | 12 November 2026 |
| [Mercor data monetization](https://origindatapartners.com/guides/mercor-data-monetization-program) | No dollar range published; pay is "based on data volume, the tools you connect, and the depth of your data" | Lists "Healthcare Clinical notes, claims, intake forms" among target industries | 12 November 2026 |


## Is a data license part of a medical practice valuation?

No. A medical practice valuation, or the valuation of an imaging center, prices the business: equipment, payer contracts, referral relationships, staff and earnings. A data license is a separate agreement over a de-identified copy of records. The company keeps its records, its patients and its operations, and ownership does not change.

For the valuation side, read [medical and dental practice valuation](https://origindatapartners.com/guides/medical-dental-practice-valuation) and [what is my business worth](https://origindatapartners.com/guides/what-is-my-business-worth).


## Can a smaller imaging center or radiology group sell its data?

Headcount is not the measure. This company had 35 people, and Origin's [case studies](https://origindatapartners.com/case-studies) state that years of linked records matter more than headcount, with a 10-person contractor and a 12-person accounting firm each paid $235,000. For imaging, what counts is the number of studies with signed reports, the range of modalities and the rights to license them. Published programs set their own bars: Handshake asks for 20 or more full-time employees and micro1 for 30 or more.


## What had to be removed or checked first?

The deal record says the studies were de-identified. These are the rules that define what that means in the US. Take them to your privacy officer and lawyer; this is not legal advice.

- Two HIPAA methods. Information can be treated as de-identified if "A person with appropriate knowledge of and experience with generally accepted statistical and scientific principles and methods for rendering information not individually identifiable" determines the risk is very small (Expert Determination), or if listed identifiers are removed (Safe Harbor) ([45 CFR 164.514](https://www.law.cornell.edu/cfr/text/45/164.514)).
- Safe Harbor identifiers include "Medical record numbers", "All elements of dates (except year)", geographic units smaller than a state, and "Full face photographic images and any comparable images" ([45 CFR 164.514](https://www.law.cornell.edu/cfr/text/45/164.514)). Check whether any image or 3D reconstruction could show a recognizable face.
- Burned-in text. The DICOM standard says "The de-identifier should ensure that no identifying information that is burned in to the image pixel data" remains ([DICOM PS3.15 Annex E](https://dicom.nema.org/medical/dicom/current/output/chtml/part15/chapter_E.html)). Cleaning headers alone is not enough.
- Once de-identified, the rule's reach ends: "Health information that does not identify an individual and with respect to which there is no reasonable basis to believe that the information can be used to identify an individual is not individually identifiable health information" ([45 CFR 164.514](https://www.law.cornell.edu/cfr/text/45/164.514)).
- Contracts and rights. Check agreements with hospitals, referring groups and reading radiologists for limits on secondary use of studies and reports.


## How does the process work?

An imaging company does not need to move a single study or connect its PACS to start. Origin's four steps are set out on [how it works](https://origindatapartners.com/how-it-works). No files or system access are required to begin.

- Describe the company. Start with your company name, website and contact details, then add your industry, team size, country and the types of records your business has.
- Talk through the opportunity. Origin follows up and, together with you, organizes a Company Licensing Brief: categories, questions to resolve, unknowns and a possible next step. The brief is not a valuation, rights clearance or a receiving program's acceptance, and sometimes the right conclusion is that there is no clear route to pursue.
- Explore a relevant opportunity. Origin explains the proposed recipient and the company information to be shared. Your authorized contact approves that named introduction before it is made, and permission to introduce your company does not authorize access to records.
- Assess the terms. Your company reviews the proposed license and decides whether to proceed: the records, permitted uses, delivery requirements and payment conditions. The [data licensing agreement guide](https://origindatapartners.com/guides/data-licensing-agreement) lists the clauses to check.


## What should an imaging company do next?

Estimate how many studies have signed reports attached, by modality and year, and note who holds the rights to them. That is enough for a first conversation.

These are deals Origin helped place. Company and buyer names stay private, and each is an individual outcome, not a forecast for another company: what a buyer pays depends on the records, rights, demand and agreed scope. See [all case studies](https://origindatapartners.com/case-studies).

Origin Data Partners works with companies that own data and helps get it bought. We are independent of the services on this page, and a buyer may pay us when a deal closes ([how Origin is paid](https://origindatapartners.com/referral-disclosure)). [See what your data is worth](https://origindatapartners.com/check-fit).

Does your company hold records like these? [See what your data is worth](https://origindatapartners.com/check-fit).


## Questions and answers

### How much did a 35-person medical imaging company get paid for its data?

A 35-person medical imaging company was paid $1.85 million for licensing de-identified imaging studies with their signed radiology reports. It is one deal Origin helped place, not a forecast.

### Can imaging data be licensed under HIPAA?

De-identified data can. HIPAA recognizes two methods, Expert Determination and Safe Harbor, and information that meets the standard is not individually identifiable health information under 45 CFR 164.514.

### Why do radiology reports matter in an imaging data license?

A report is the expert reading of the images. Paired with the study, it turns an image into a labeled example a developer can use to build or test a model.

### Is removing patient names from DICOM headers enough?

No. Identifying text can be burned into the image pixels, and HIPAA Safe Harbor also lists full face photographic images and comparable images. The DICOM standard calls for removing burned-in identifying information as well.

### Is a data license part of a medical practice valuation?

No. A valuation prices the business. A data license is a separate agreement over a de-identified copy of records and does not transfer ownership of the practice.

## Sources

- [Mercor Data: Monetize your data (published program page)](https://www.mercor.com/data/)
- [Handshake AI: Get paid for your company data (data partnerships)](https://joinhandshake.com/ai/data-partnerships/license/)
- [45 CFR 164.514: De-identification of protected health information](https://www.law.cornell.edu/cfr/text/45/164.514)
- [DICOM PS3.15 Annex E: Attribute Confidentiality Profiles](https://dicom.nema.org/medical/dicom/current/output/chtml/part15/chapter_E.html)

## Related reading

- [Licensing medical imaging and diagnostic data to AI companies](https://origindatapartners.com/guides/license-medical-imaging-data-ai)
- [Health data licensing programs compared: Segmed, Gradient Health, Dandelion and OneMedNet](https://origindatapartners.com/guides/health-data-licensing-programs-compared)
- [Can a medical practice license patient records to AI companies?](https://origindatapartners.com/guides/license-patient-records-ai-training)
- [Licensing healthcare operational data for AI: HIPAA basics](https://origindatapartners.com/guides/license-healthcare-operational-data)
- [Dental and medical practice valuation: selling a practice](https://origindatapartners.com/guides/medical-dental-practice-valuation)
- [/sell-company-data/united-states](https://origindatapartners.com/sell-company-data/united-states)
- [/case-studies](https://origindatapartners.com/case-studies)
- [/how-it-works](https://origindatapartners.com/how-it-works)
- [How much do AI companies pay for company data?](https://origindatapartners.com/guides/company-data-value)
- [/case-studies/closed-startup-data-license-1-3-million](https://origindatapartners.com/case-studies/closed-startup-data-license-1-3-million)
- [/case-studies/law-firm-data-license-720000](https://origindatapartners.com/case-studies/law-firm-data-license-720000)