Intelligent Ultrasnd - Additional product agreement with GE Healthcare
25/01/2022 07:00
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RNS Number : 4432Z Intelligent Ultrasound Group PLC 25 January 2022
Intelligent Ultrasound Group plc
("Intelligent Ultrasound" or the "Group")
Announcement of additional new product agreement with GE Healthcare
Intelligent Ultrasound Group plc (AIM: IUG), the ultrasound artificial
intelligence (AI) software and simulation group, announces that it has signed
an extension to its existing exclusive women's healthcare AI agreement with GE
Healthcare to enable GE Healthcare to utilise the ScanNav Assist AI software
in a new segment of automated ultrasound image analysis, that is outside the
Group's original agreement. Although the terms of the agreement and the
timings of the related product launch are undisclosed, this supplementary
product line is expected to support the growth of the Group's royalty revenues
in the longer term.
Stuart Gall, CEO of Intelligent Ultrasound Group plc, commented: "This is a
great start to the year for the Group. We are building an excellent
partnership with GE Healthcare, the world's leading ultrasound company, and
this supplementary product extension to the agreement reinforces why we are
excited about the long-term growth potential of our 'classroom to clinic'
business."
For further information, please contact:
Intelligent Ultrasound Group plc www. intelligentultrasound.com
Stuart Gall, CEO Tel: +44 (0)29 2075 6534
Helen Jones, CFO
Cenkos Securities - Nominated Advisor and Broker Tel: +44 (0)20 7397 8900
Giles Balleny (Corporate Finance)
Michael Johnson / Julian Morse (Sales)
Walbrook PR Tel: +44 (0)20 7933 8780 or intelligentultrasound@walbrookpr.com
Anna Dunphy / Paul McManus Mob: +44 (0)7876 741 001 / Mob: +44 (0)7980 541 893
About Intelligent Ultrasound Group
Intelligent Ultrasound (AIM: IUG) develops artificial
intelligence-based clinical image analysis software tools for the diagnostic
medical ultrasound market and hi-fidelity virtual reality simulators for the
ultrasound training market. Based in Cardiff in the UK and Atlanta in
the US, the Group operates two divisions:
Clinical AI Division
Focusses on developing deep learning-based algorithms to make ultrasound
machines smarter and more accessible. Products in the market include:
ScanNav Assist
ScanNav Assist uses machine-learning based algorithms to automatically
identify and grade ultrasound images. GE Healthcare's SonoLyst software on
their Voluson SWIFT ultrasound machine incorporates the ScanNav Assist AI
technology and has received CE and FDA regulatory approval. SonoLyst is the
world's first fully integrated AI tool that recognises the 20 views
recommended by the International Society of Ultrasound in Obstetrics and
Gynaecology mid-trimester practice guidelines for fetal imaging.
ScanNav Anatomy
ScanNav Anatomy PNB uses machine-learning based algorithms to simplify
ultrasound-guided needling by providing the user with real-time AI-based
anatomy highlighting software for a range of medical procedures. ScanNav
Anatomy has received CE approval and has also been submitted for FDA
regulatory approval.
ScanNav Anatomy PNB is therefore not available for sale in the US or any other
territory requiring government approval for this type of product.
Simulation Division
Focusses on hi-fidelity ultrasound education and training through
simulation. Its main products are the ScanTrainer OBGYN training simulator,
the HeartWorks echocardiography training simulator,
the BodyWorks Eve Point of Care and Emergency Medicine training simulator
with Covid module and the new AI-based Anatomy PNB training simulator and the
new BabyWorks Neonate and Paediatric training simulator. To date almost 1,300
simulators have been sold to over 650 medical institutions around the world.
www.intelligentultrasound.com (http://www.intelligentultrasound.com/)
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