See Mode

See-Mode (See-Mode Technologies) develops artificial intelligence software that automatically analyzes ultrasound images and generates radiology reports. Its thyroid product detects, sizes and characterizes thyroid nodules and produces a complete TI-RADS sonographer worksheet along with preliminary radiologist impressions. Its breast product identifies lesions in ultrasound imaging and automates BI-RADS reporting, covering both lesion characteristics and suspicion level. The stated aims are to reduce reporting time, improve consistency and reduce inter-operator variability and reporting errors [0].

Operationally, the software detects nodules in ultrasound images without requiring the sonographer to mark a region of interest, supports comparison between prior and new images, generates a full ultrasound worksheet for the examination, and pre-populates radiology report templates with preliminary findings and impressions [4]. The thyroid ultrasound application has FDA clearance; as of mid-2025 the breast ultrasound detection product had not yet been cleared, with FDA 510(k) submission and approval for it set as contractual milestones in the RadNet transaction [0][4].

See-Mode was founded in 2017 and, at the time of its acquisition, was headquartered in Melbourne, Australia. In June 2025 it was acquired by Los Angeles-based imaging center operator RadNet Inc. and placed within RadNet's Deep Health technology division [4]."]

Business model

See-Mode licenses AI software that plugs into ultrasound reporting workflows at imaging providers and radiology practices. Following the RadNet acquisition, RadNet stated that the initial focus would be internal implementation across its own imaging centers, after which the technology would also be sold and marketed to third parties by its Digital Health division as the offerings are further commercialized [4].

Sales of AI reporting software to imaging providers; RadNet cited customer contracts with defined aggregate annual value as an earn-out milestone (at least two new customer contracts totaling $150,000 in aggregate annual value by March 31, 2026) and noted that existing CPT codes make a portion of thyroid ultrasound volume eligible for additional reimbursement [4].

Traction

RadNet reported that early deployment of See-Mode's FDA-cleared thyroid ultrasound AI across 83 of its centers demonstrated up to a 30% reduction in scan times, with early results indicating interpretation times could fall by upward of 50%; the company's website cites a similar 30% scan-time reduction from early deployment across 12 RadNet imaging centers. RadNet aimed to complete implementation across its remaining centers by the end of Q1 2026 [0][4].

Latest developments

An SEC filing reported on August 12, 2025 detailed a total purchase price of about $28.7 million, comprising roughly $17.9 million in cash, a $2 million holdback releasable 18 months after closing, and $8.8 million in contingent consideration, with up to $12.7 million in cash and RadNet common stock tied to three milestones: $4.3 million for implementing the thyroid ultrasound detection product at four RadNet centers plus two new customer contracts worth $150,000 in aggregate annual value by March 31, 2026; $4.2 million on FDA 510(k) clearance of the breast ultrasound detection product (submission by March 31, 2026, approval by December 31, 2026); and $4.2 million on FDA 510(k) clearance of a new ultrasound product (submission by June 30, 2027, approval by March 31, 2028). Each contingent amount is payable 50% in cash and 50% in RadNet shares. RadNet also stated it hopes to pursue FDA clearance for the breast ultrasound application, which would address roughly 600,000 of its 2.7 million annual ultrasound exams [4].