Medical imaging IT · Cloud radiology
MedXT
A two-founder Y Combinator startup that put a radiology viewer and image-sharing system in the browser. It launched publicly in July 2014 and was bought by Box within three months, for stock the SEC record later put at $3.84 million.
A low profile, on purpose
When MedXT told the world about itself in July 2014, it was already in use. MedCity News reported that the company had received FDA clearance “months ago” and had kept quiet so it could get the execution right with early customers.
The pitch was blunt. Radiology images still moved on DVDs. Reports came back by fax. TechCrunch said the system “basically acts as a Dropbox for medical images”: scans travel from an imaging device to a small local server, then over an encrypted connection to HIPAA-compliant Amazon servers, and a technician sends a link to any radiologist with a browser.
The problem
Cody Ebberson had seen the mess from inside. He was chief operating officer at teleradiology provider 24/7 Radiology, which Alliance Healthcare bought in 2011. Coming from consumer software, he found radiology IT behind: usability and uptime were nowhere near what consumer products offered.
The bottlenecks he named to MedCity were interoperability, the cost of connecting systems, DVD delivery, faxed reports that lose structured data, and no easy way to see who else had looked at a patient’s images. “That was my trial by fire in healthcare,” he said.
MedXT’s answer was a full cloud RIS/PACS. AuntMinnie’s July 2014 profile lists an HTML5 diagnostic viewer built with WebGL and web workers, annotation and measurement tools, multiplanar reconstruction, reporting templates with speech recognition, automatic faxing, and HL7 links to electronic health records and billing systems. Pricing was pay per use: 50 free studies, then $2 per study, according to TechCrunch.
Founders
Ebberson started at Microsoft and moved through consumer technology companies before 24/7 Radiology, according to AuntMinnie. His Y Combinator profile adds a computer science degree and an MBA from Harvard.
Reshma Khilnani was the CTO. She also began at Microsoft and later worked at Facebook, and holds a BS and a master’s in engineering from MIT. AuntMinnie’s piece spells her surname “Khilnan” and uses male pronouns for her; every other source in this file, including her own Y Combinator page, spells it Khilnani and refers to her as she.
The two began working full-time on MedXT in 2012, after the 24/7 Radiology sale. They went through Y Combinator in the Winter 2013 batch. The amount raised before the sale is not public in anything we found.
Box comes calling
Box knew MedXT from the accelerator circuit. Missy Krasner, Box’s managing director for healthcare and life sciences, told MedCity that Box works with accelerators such as Y Combinator and gets their startups interested in using Box for storage, and that MedXT “became an incredible partner.” The purchase was the second Y Combinator company Box had bought in six months, after Streem, according to SiliconANGLE.
Box CEO Aaron Levie announced the deal on October 9, 2014, in a blog post. Both founders joined Box’s engineering organization. Computerworld reported that Box expected to close in early November and that MedXT’s only employees were the two founders. Box said it would work to fold MedXT’s DICOM viewer into the core Box service.
No price came with the announcement. On November 17, VentureBeat reported that a Form D Box filed that day showed new stock worth $3.84 million issued for the deal. A Box spokesman confirmed the filing was specific to the deal and declined to say more. VentureBeat noted it was unclear whether the exit included other compensation, such as bonuses.
After Box
Both founders stayed in healthcare software. Ebberson was healthcare engineering lead at Box and a director of engineering at One Medical. Khilnani started Droplet, an at-home diagnostics company that a Stack Overflow interview says Ro acquired, and spent 2021 as a Visiting Group Partner at Y Combinator. In 2022 the two, with a third co-founder, returned to Y Combinator with Medplum, an open source healthcare developer platform. Ebberson is its CTO and Khilnani its CEO.
What is proven, and what is still claimed
| Evidence | What the record shows | Source type |
|---|---|---|
| Y Combinator | Winter 2013 batch, per TechCrunch, VentureBeat and Y Combinator’s own company page. | Independent |
| FDA clearance | Press and the company describe the viewer as FDA cleared, and a Crunchbase entry calls it a 510(k) viewer. We found no 510(k) number, and the FDA records pulled for this profile contain no MedXT entry. | Number not found |
| Acquisition | Announced by Box on Oct 9, 2014, reported by VentureBeat, Computerworld, MedCity News, SiliconANGLE and HIT Consultant. Expected to close in early November. | Independent |
| Price | $3.84M in new Box stock, from a Form D as reported by VentureBeat on Nov 17, 2014. Box declined to give other terms. We did not retrieve the filing itself. | Reporting on a filing |
| Customer count | MedCity: 300 facilities in 25 states and 11 countries. AuntMinnie: about 400 to 500 facilities, about 80 percent in the US. TechCrunch: “hundreds.” All from the CEO or co-founder in the same month. | Figures differ |
| Named customers | Critical Medical Solutions, Certify Labs, MedLife Diagnostics and Capstone. CrowdMed used the platform for its imaging. | Company-stated |
| Trials, grants, papers | No registered trials, NIH or NSF awards, or PubMed papers matched the company. | Not found |
| Other SEC filings under the name | EDGAR lists a Form D from “MedXT Lab Corp.” dated Feb 16, 2024. Nothing ties it to the 2012 company, and the X account for a “Medxt Corp” describes a payments and healthcare data project with a token. We did not treat it as this company. | Unrelated, so far as found |
Read plainly: MedXT was a real product with real usage, sold to a strategic buyer for $3.84 million in stock. The clearance is asserted consistently but not documented here by number. The usage figures came from the founders and vary widely by source.
What to watch
- The 510(k) record itself. A number and clearance date would settle the regulatory claim.
- What became of the product. Box said it would fold the viewer into its core service, and Crunchbase lists MedXT as closed. We found no later reporting on the viewer.
- Box’s own annual filing for the year of the deal, which would show how the purchase price was allocated.
- Medplum, where both founders now work, as the continuation of the same team.
In their words
“It was an operational void. I knew we could do a better job.”
Cody Ebberson, co-founder and CEO, MedCity News, July 2014 · Interview
“It was one of the first to embrace digital, but then at some point it stagnated a little bit.”
Cody Ebberson, on imaging software, AuntMinnie, July 2014 · Interview
“We worked on consumer applications that were designed to scale to tens of millions of people”
Cody Ebberson, AuntMinnie, July 2014 · Interview
“Today’s social-networked patients expect a personalized experience in healthcare, just like in all other aspects of their lives”
Cody Ebberson, CEO, company release, July 2014 · Company release
“Medical images have long been silo-ed from other clinical systems that house medical records and tests, largely due to the complex imaging equipment used to capture them.”
Aaron Levie, CEO of Box, blog post quoted by HIT Consultant, October 2014 · Acquirer statement
“Beyond this filing, we’re not disclosing the terms of the transaction, but can confirm this Form D is specific to the deal”
Box spokesman, quoted by VentureBeat, November 2014 · Acquirer statement
“We were the founding team of MedXT (W13) and I (Reshma) spent 2021 as a Visiting Group Partner for the W21 and S21 batches.”
Reshma Khilnani, Medplum launch post, Y Combinator · Founder
Related companies
Sources
- IndependentMedXT’s Platform Brings Medical Imaging In Line With Today’s Cloud Technology
- IndependentMedXT leverages consumer IT for cloud-based RIS/PACS
- IndependentMedXT image-sharing technology could resolve interoperability issues in teleradiology
- IndependentBox adds medical image sharing business MedXT to modernize care coordination
- IndependentBox is buying medical data startup MedXT
- IndependentBox buys medical image viewing vendor to boost vertical industry push
- IndependentBox Acquires MedXT To Address Healthcare Interoperability
- IndependentBox acquires medical collaboration startup MedXT to accelerate vertical pivot
- IndependentBox paid out $3.8M in stock to buy MedXT
- IndependentThese 8 digital health M&A deals stood out in 2014
- IndependentHow to build open-source apps in a highly regulated industry
- CompanyMedXT Announces FDA-Approved Universal Image Viewer
- AcceleratorMedXT company page
- AcceleratorMedplum company page and launch post
- DatabaseMedXT organization profile
- Public recordEDGAR company listing, Box, Inc.
- Public recordEDGAR Form D mention, MedXT Lab Corp., accession 0002012357-24-000001
Profile researched and written by Healthcare Discovery. Last updated September 29, 2026.
