Diagnos AI retinal screening technology expands in international markets
VANCOUVER, BC, August 5, 2021 / CNW / – Diagnos (TSXV: ADK) (OTCQB: DGNOF) (FRA: 4D4A) opens clinics and forges distribution partnerships around the world, including Canada, Spain, Saudi Arabia, Mexico, Europe, Costa Rica and the USA
Five years ago, it was predicted that AI would revolutionize medicine in the near future.
The revolution is underway but the deployment is slower than expected because hospitals and clinics are wary of the integration of new technologies.
In this positive but cautious environment, the lightning-fast adoption of ADK’s technology is important.
Diagnos specializes in the early detection of health problems thanks to its artificial intelligence (AI) platform FLAIRE.
The FLAIRE platform is used in applications such as CARA (Computer Assisted Retina Analysis).
CARA’s artificial intelligence-based image enhancement algorithms deliver sharper, clearer retinal images that can then be analyzedÌ to detect abnormalities.
CARA has been approved by a number of regulators, including Canada (Health Canada), United States (FDA), Mexico (COFEPRIS), Europe (CE) and the Saudi FDA.
On June 9, 2021 Diagnos has signed a multi-year agreement with IRIS The Visual Group, creating a launch platform for the deployment of AI-based tests, screening for retinal vascular changes for optometry clinics.
Initially, this agreement will cover the province of Quebec in a multi-step approach according to the agreement with the INVEST-AI program (sponsored by the government of Quebec).
âIRIS continues to be at the forefront of implementing technology-driven solutions for clinical optometry and optical retail,â said Eric Babin, President of IRIS. “Artificial intelligence will raise our standards for quality of care and we look forward to working with Diagnos.”
âThe early stages of retinal damage caused by diabetes are called nonproliferative retinopathy,â explains Health Link BC. âFirst, tiny blood vessels called capillaries in the retina develop weakened areas in their walls called microaneurysms. “
“When red blood cells escape through these weakened walls, tiny bleeding (hemorrhages) become visible when the retina is viewed through an instrument called an ophthalmoscope.”
âUsing Diagnos’ telemedicine solution, we were able to identify patients requiring care early so that their vision could be preserved,â said ADK.
In addition, DIAGNOS has concluded a 7-year agreement with New Look Vision Group (TSX: BCI), parent company of IRIS.
Vision New Look is a financially strong partner with a large footprint.
The New Look Vision network has a total of 406 branches operating across North America. About 200 of these stores are in Quebec.
BCI’s brands include New Look, Vogue Optical, Greiche & Scaff and Iris eyewear in Canada, and the Edouard Beiner banner in Florida.
BCI’s first quarter 2021 revenue grew 27.3% year-on-year to $ 86.6 million. The company has $ 57.2 million in cash, coupled with an available credit of $ 49.4 million.
While waiting for the outcome of the BCI / ADK Quebec initiative, the agreement provides for the deployment of AI on an extended North American network.
âWe are extremely pleased to conclude this major agreement with IRIS and New Look Vision, a market leader in North America with more than 400 optical stores, âsaid AndrÃ© Larente, President of Diagnos, âIRIS and Vision New Look are ideal industrial partners for the rapid implementation of DIAGNOS technologies. ”
“Although the adoption of AI is in its early stages in retinal technologies, the growing demand for accuracy, efficiency and patient safety is expected to significantly drive the adoption of AI-based medical imaging. of DIAGNOS over the next few years, âsaid ADK.
âClinics, optical stores, diagnostic and research centers are expected to become essential end users of our image analysis solutions, due to the growing demand for our highly effective solutions for better outcomes for patients. patients, âadded Larente.
On July 5, 2021, Larente spoke with Equity Guru’s Jody vance on ADK’s business goals.
“We just announced a 7 year contract with the largest eye care retailer in Canada“Larente confirmed, referring to New Look Vision.
âIt has three components,â Larente continued, âOne is that they are going to use our existing platform to analyze the fundus of all of their patients.â
“Second, we will develop an app to monitor patients with glaucoma.”
“Third, New Look Vision wants access to a new application that we are developing for stroke.”
Diagnos technology can inform a patient that she is at risk for a heart attack or stroke.
âThe retina, the back part of the eye, is the only area of ââthe body where doctors can easily see the condition of the arteries and veins without invasive procedures,â says AV Press.
“Early detection of atherosclerosis (hardening of the arteries) in the retina of diabetic patients signals a warning that the same problem occurs in the coronary arteries,” continues AV Press, “This is why the retina is called” the window. of the heart ” “.
Earlier this year, Diagnos announced a three-year partnership agreement with the Center Hospitalier de l’UniversitÃ© de MontrÃ©al (CHUM) on AI projects related to the early detection of various retinal diseases.
âThe global prevalence of diabetes in 2019 is estimated at 9.3% (463 million people), increasing to 10.2% (578 million) by 2030 and 10.9% (700 million) by 2045 “Says the International Diabetes Federation,” One in two (50.1%) people living with diabetes don’t know they have diabetes.
“Diabetes is the leading cause of vision loss worldwide and accessibility to an eye test like this is one of the most important factors contributing to early diagnosis and treatment, âconfirmed Yves-StÃ©phane Couture, VP of sales for DIAGNOS.
With existing partnerships in Canada, Spain, Saudi Arabia, Mexico, Europe, Costa Rica and the United States – ADK technology travels well – and could expand into new territories.
Growing trends in diabetes in China making it a natural home for ADK technology.
“China diabetes market has reached a value of 4.48 billion US dollars in 2020, âiMARC confirmed,â The disease has currently reached epidemic proportions in the adult population. About three decades ago, less than 1% of China’s adult population suffered from diabetes. These levels, however, have increased to around 12% – which makes it the diabetes capital of the world. “
There are 200,000 optometrists in the world, and each of them is able to collect the images that Diagnos needs to run their AI diagnostics.
Diagnos’ stated objective is to have positive cash flow by the end of 2021.
View original content to download multimedia: https://www.prnewswire.com/news-releases/diagnos-ai-retinal-screening-technology-expands-into-international-markets-301348984.html
SOURCE Global Equity News