Additional product agreement with GE Healthcare

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: [phone]
Helen Jones, CFO
Cenkos Securities - Nominated Advisor and Broker				Tel:  [phone]
Giles Balleny (Corporate Finance)
Michael Johnson / Julian Morse (Sales)
Walbrook PR	Tel: [phone] or [e-mail]
Anna Dunphy / Paul McManus		Mob: [phone] / Mob: [phone]

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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