BROSSARD, Quebec, July 31, 2018 (GLOBE NEWSWIRE) — Diagnos Inc. (“DIAGNOS”, “the Corporation” or “We”) (TSX Venture:ADK) (OTCQB:DGNOF), a leader in early detection of critical health issues through the use of Artificial Intelligence (AI), announces today an update on business operations.
We are happy to report these important milestones and accomplishments over the last twelve months:
- Signing of our first agreement with a Canadian hospital, the CHUM in Montreal. This hospital is now screening patients for diabetic retinopathy and hypertension. We expect to screen 4,500 patients from August to December of 2018. It is estimated that the diabetic population in Quebec is 800,000,
- Signing of a 3-year contract with our first customer in the USA after a successful pilot. We are currently screening an average of 600 patients per month and our customer is ordering additional cameras,
- First contract in Saudi Arabia with a local partner. We began with 100 patients screened per month and now we are averaging 1,000 per month,
- Working with pharmaceutical companies such as Novo Nordisk to broaden the use of our AI technology for the detection of Hypertension complications in the retina of the eye,
- Opening of our first of 15 clinics in Panama and a new provincial government state in Mexico. We have several new proposals in Latin America with many governments and clinics.
- Establishing a sales force to cover Latin America and the USA including existing international accounts. The Mexican government has temporarily stopped the mass screening program because of elections in Mexico. Now that the election results are known, we plan to restart the program soon.
CARDIO, our new Hypertension application announced recently, is a by-product of the work we are doing in the field of stroke prevention based on the analysis of the human vascular system. This new prevention tool is in clinical trial in the US, Canada, Algeria and Mexico. We are working with other hospitals and we expect to see more organisations collaborating with DIAGNOS in the development of CARDIO.
The Corporation is working at establishing a permanent team to cover the US market. The addition of a new US based board member, Dr. Reid Maclellan, is contributing to the business development efforts there. Dr. Maclellan, an Instructor of Surgery in the field of vascular anomalies at Harvard Medical School, will contribute to DIAGNOS’ growth in the US. Additionally we made changes at the board level in bringing new senior talent to improve corporate governance.
“The last year was a pivotal period for DIAGNOS. The AI market came alive in 2017. We believe this demonstrates that all the work done by our employees to become an early leader is finally benefiting the Corporation. For the last 2 years, DIAGNOS has been working with clients in 16 countries to establish a local presence and this proves that the use of AI in the medical field is really happening. In our opinion, the learning curve for any high tech company to be fully able to access the medical market is at least 5 years. We also strongly believe we’ve got the right timing with our AI solutions. Regulatory approvals such as FDA, Health Canada, CE mark, COFEPRIS plus others and the proof of concept have been successfully achieved at DIAGNOS,’’ said André Larente, President and CEO of DIAGNOS.
DIAGNOS is a publicly-traded Canadian corporation with a mission of early detection of critical health issues through the use of its Artificial Intelligence (“AI”) tool CARA (Computer Assisted Retina Analysis). CARA is a tele- ophthalmology platform that integrates with existing equipment (hardware and software) and processes at the point of care (“POC”). CARA’s Artificial Intelligence image enhancement algorithms make standard retinal images sharper, clearer and easier to read. CARA is accessible securely over the internet, and is compatible with all recognized image formats and brands of fundus cameras, and is EMR compatible. CARA is a cost-effective tool for screening large numbers of patients in real-time and has been cleared for commercialization by several regulatory authorities such as Health Canada, the U.S. Food and Drug Administration and the European Union.
Additional information about DIAGNOS is available at www.diagnos.com and www.sedar.com.
For further information, please contact:
|André Larente, President||Josh Falle|
|DIAGNOS Inc.||Momentum PR|
|Tel: 450-678-8882 ext. 224||Tel: 514-416-4656|
|[email protected]||[email protected]|
This news release contains forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements. DIAGNOS disclaims any intention or obligation to publically update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.