Intelligent Ultrasound Group PLC Additional product agreement with GE Healthcare (4432Z)
January 25 2022 - 2:00AM
UK Regulatory
TIDMIUG
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 www. intelligentultrasound.com
plc
Stuart Gall, CEO Tel: +44 (0)29 2075 6534
Helen Jones, CFO
Cenkos Securities - Nominated Advisor Tel: +44 (0)20 7397 8900
and Broker
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
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