StatRad, a provider of cloud-based medical image exchange technology and teleradiology services, entered into a line of credit agreement with Irvine, CA-based Opus Bank. Proceeds of the facility will be used to 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 COO. “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’s other services include the web-based medical image exchange software, RadConnect, and a web-based medical image management platform.