Clarendon portfolio company Cirdan Imaging is creating 50 new jobs in Lisburn.
Cirdan Imaging makes equipment that speeds up diagnosis and is used by those working in pathology and detecting breast cancer.
It was set up in 2010 by Dr Hugh Cormican, who was also a founder of Andor Technology, which makes high-performance digital cameras for scientific research.
This expansion comes after it received £1.5m from the Growth Finance Fund.
The funding will create 50 new jobs over the next three years and facilitate its expansion plans to move to a new office at the former Coca-Cola factory in Lambeg.
"Our new Lisburn headquarters situated by the scenic Lagan towpath will allow us to accommodate up to 150 staff," said Dr Cormican, chief executive of Cirdan Imaging.
"The objective over the next 18 months is to grow our footprint in the US, Oceania and EMEA markets."
The Growth Finance Fund is funded by the British Business Bank, Invest NI and Northern Ireland Local Government Officers' Superannuation Committee (NILGOSC).
David McCurley, director, head of Investments Growth Finance Fund, said: "Early stage diagnosis of health conditions is a global issue as populations get older.
"The innovative work undertaken by Cirdan will ensure medical professionals have the most up to date tools available to better treat patients."