Nanox Expands in Europe with New Nanox.ARC Distribution Engagement in Serbia, Montenegro, and Bosnia and Herzegovina
Rhea-AI Summary
Nanox (Nasdaq: NNOX) announced an exclusive distribution agreement with Adriamed to commercialize the Nanox.ARC digital tomosynthesis system in Serbia, Montenegro, and Bosnia and Herzegovina on January 14, 2026.
The Nanox.ARC holds a CE Mark for its intended use and Adriamed will handle marketing, distribution, installation, and support across the Western Balkans. The collaboration follows recent European agreements in Greece, Romania, Czech Republic, and France and aims to expand access to lower-cost 3D imaging for regional healthcare providers.
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News Market Reaction – NNOX
On the day this news was published, NNOX declined 0.66%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Market Reality Check
Peers on Argus
NNOX was up 1.33% while close medical-device peers showed mixed moves: gains in QSI (+1.6%) and CATX (+2.87%) contrasted with declines in OM (-8.57%), VMD (-0.68%), and MGRM (-1.64%). This pattern points to a stock-specific driver rather than a broad sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 25 | EU distribution deal | Positive | +9.4% | Exclusive Nanox.ARC distribution collaboration across France via Althea France. |
| Nov 24 | AI evaluation news | Positive | -5.3% | Nanox.AI bone tools recommended for NICE Early Value Assessment in UK NHS. |
| Nov 23 | Equity offering | Negative | -5.3% | $15M registered direct offering of 3,826,530 ordinary shares for working capital. |
| Nov 20 | Earnings and update | Positive | +13.9% | Q3 2025 results, Vaso Healthcare IT acquisition completion, and 2026 revenue outlook. |
| Nov 19 | AI acquisition | Positive | -8.5% | Agreement to acquire VasoHealthcare IT for up to $800,000 to boost AI rollout. |
Recent history shows generally positive reactions to commercialization and earnings updates, but occasional selloffs on otherwise constructive AI and acquisition news.
Over the past few months, Nanox has combined strategic deals with capital raises. On Nov 19, it agreed to acquire VasoHealthcare IT to support U.S. AI deployment, followed by Q3 2025 results on Nov 20 with $3.4M revenue and guidance for $35M in 2026 revenue. A $15M registered direct offering on Nov 23 added funding but weighed on shares. Subsequent European ARC distribution agreements, including France on Nov 25, supported a stronger price reaction. Today’s Western Balkans distribution fits this ongoing European rollout.
Market Pulse Summary
This announcement expands Nanox.ARC distribution into Serbia, Montenegro, and Bosnia and Herzegovina through an exclusive partnership with Adriamed, adding to recent European deals in Greece, Romania, the Czech Republic, and France. The CE‑marked, multi-source tomosynthesis system targets lower-cost, 3D imaging access across more markets. Context from prior filings and updates highlights ongoing revenue growth, net losses, and past equity raises, so future updates on deployments and utilization will be important to track alongside this regional expansion.
Key Terms
digital tomosynthesis medical
3d imaging technology technical
ce mark regulatory
AI-generated analysis. Not financial advice.
Collaboration with Adriamed drives commercial expansion and strengthens Nanox’s regional leadership
Engagement supports continued growth across multiple European markets, following recent collaborations in Greece, Romania, Czech Republic and France
PETACH TIKVA, ISRAEL – January 14, 2026 – Nanox Imaging Ltd. (“Nanox”, Nasdaq: NNOX), a leader in innovative medical imaging technology, today announced a new collaboration with Adriamed d.o.o. Beograd (“Adriamed”), a Belgrade-based medical device distributor serving healthcare providers across Southeast Europe, and part of the Adriamed Group. Adriamed is recognized for its focus on quality, innovation, and customer-centric solutions in the regional medical device market.
This engagement will bring the Nanox.ARC, a multi-source digital tomosynthesis system that utilizes advanced 3D imaging technology to provide enhanced diagnostic capabilities at a lower cost than traditional systems, to healthcare providers across Serbia, Montenegro, and Bosnia and Herzegovina. The Nanox.ARC holds a CE Mark certification for its intended use, enabling commercialization across Europe subject to applicable local regulatory requirements.
Under the terms of the agreement, Adriamed becomes Nanox’s exclusive partner for the Nanox.ARC system and related services in the region, overseeing all aspects of marketing, distribution, installation, and support.
“We are building momentum in Europe through this strategic collaboration with Adriamed, whose expertise and regional reach will support our commercial expansion in the Western Balkans,” said Erez Meltzer, CEO and Acting Chairman of Nanox. “Our strategy centers on expanding access to cost-effective imaging solutions through established regional partners. With recent progress of signing several new European collaborations, we are well-positioned to support healthcare providers with technologies designed to improve patient care and long-term health outcomes across Europe.”
“We are pleased to enter into this collaboration with Nanox and to bring their imaging solutions into our regional portfolio,” said Nebojša Čobanov, MD, Chief Financial & Business Development Officer of Adriamed. “Nanox.ARC is a groundbreaking technology with the potential to help close the gap in access and to make high-quality imaging more affordable and widely available, even in communities that have been underserved until now. Together, we aim to support broader access to medical imaging across the Western Balkans. Our established regional presence and customer relationships, combined with Nanox’s imaging platform positions us to support market penetration, and deliver long-term value to healthcare providers in the region.”
About Nanox
Nanox (NASDAQ: NNOX) is focused on driving the world’s transition to preventive health care by delivering an integrated, end-to-end medical imaging and healthcare services platform.
Nanox combines affordable imaging hardware, advanced AI-based solutions, cloud-based software, access to remote radiology, health IT solutions, and a marketplace to enable earlier detection, improved clinical efficiency, and broader access to care.
Nanox’s vision is to expand the reach of medical imaging both within and beyond traditional hospital settings by providing a seamless solution from scan to interpretation and beyond. By leveraging proprietary digital X-ray technology, AI-driven analytics, and a clinically driven approach, Nanox aims to enhance the efficiency of routine imaging workflows, support early detection of disease, and improve patient outcomes.
The Nanox ecosystem includes Nanox.ARC, a cost-effective, 3D multi-source digital tomosynthesis imaging system designed for ease of use and scalability; Nanox.AI, a suite of AI-based algorithms that augment the interpretation of routine CT imaging to identify early signs often associated with chronic disease; Nanox.CLOUD, a cloud-based platform for secure data management, storage, and advanced imaging analytics; Nanox.MARKETPLACE and USARAD Holdings, which provide access to remote radiology and cardiology experts and comprehensive teleradiology services; and Nanox Health IT, which combines deep healthcare IT expertise with leading technology partners to deliver RIS, PACS, AI, dictation, and secure infrastructure solutions that streamline workflows and support safer, more efficient care delivery.
By integrating imaging technology, AI, cloud infrastructure, clinical expertise, a marketplace, and health information technology, Nanox seeks to lower barriers to adoption, improve utilization, and advance preventive care worldwide. For more information, please visit www.nanox.vision
About Adriamed
Adriamed, based in Belgrade and part of the ADRIAMED GROUP, is recognized for its innovative medical devices and strong commitment to healthcare advancement in the region.
Forward-Looking Statements
This press release may contain forward-looking statements that are subject to risks and uncertainties. All statements that are not historical facts contained in this press release are forward-looking statements. Such statements include, but are not limited to, any statements relating to the initiation, timing, progress and results of the Company’s research and development, manufacturing, and commercialization activities with respect to its X-ray source technology and the Nanox.ARC, the ability to realize the expected benefits of its recent acquisitions and the projected business prospects of the Company and the acquired companies. In some cases, you can identify forward-looking statements by terminology such as “can,” “might,” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “should,” “could,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on information the Company has when those statements are made or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause actual results to differ materially from those currently anticipated include: risks related to (i) Nanox’s ability to complete development of the Nanox System; (ii) Nanox’s ability to successfully demonstrate the feasibility of its technology for commercial applications; (iii) Nanox’s expectations regarding the necessity of, timing of filing for, and receipt and maintenance of, regulatory clearances or approvals regarding its technology, the Nanox.ARC and Nanox.CLOUD from regulatory agencies worldwide and its ongoing compliance with applicable quality standards and regulatory requirements; (iv) Nanox’s ability to realize the anticipated benefits of the acquisitions, which may be affected by, among other things, competition, brand recognition, the ability of the acquired companies to grow and manage growth profitably and retain their key employees; (v) Nanox’s ability to enter into and maintain commercially reasonable arrangements with third-party manufacturers and suppliers to manufacture the Nanox.ARC; (vi) the market acceptance of the Nanox System and the proposed pay-per-scan business model; (vii) Nanox’s expectations regarding collaborations with third-parties and their potential benefits; (viii) Nanox’s ability to conduct business globally; (ix) changes in global, political, economic, business, competitive, market and regulatory forces; (x) risks related to the current war between Israel and Hamas and any worsening of the situation in Israel; (xi) risks related to business interruptions resulting from the COVID-19 pandemic or similar public health crises, among other things; and (xii) potential litigation associated with our transactions.
For a discussion of other risks and uncertainties, and other important factors, any of which could cause Nanox’s actual results to differ from those contained in the Forward-Looking Statements, see the section titled “Risk Factors” in Nanox’s Annual Report on Form 20-F for the year ended December 31, 2024, and subsequent filings with the U.S. Securities and Exchange Commission. The reader should not place undue reliance on any forward-looking statements included in this press release. Except as required by law, Nanox undertakes no obligation to update publicly any forward-looking statements after the date of this press release to conform these statements to actual results or to changes in the Company’s expectations.
Contacts
Media Contact:
Ben Shannon
ICR Healthcare
NanoxPR@icrinc.com
Investor Contact:
Mike Cavanaugh
ICR Healthcare
mike.cavanaugh@icrhealthcare.com
FAQ
What did Nanox (NNOX) announce on January 14, 2026 regarding Serbia, Montenegro, and Bosnia and Herzegovina?
What is the Nanox.ARC and does it have regulatory clearance for Europe?
What role will Adriamed play as Nanox’s partner in the Western Balkans?
How does the January 14, 2026 agreement affect Nanox’s European expansion strategy (NNOX)?
Will the Nanox.ARC availability improve access to imaging in underserved communities in the Western Balkans?
How can healthcare providers in Serbia, Montenegro, or Bosnia and Herzegovina obtain Nanox.ARC from NNOX?
