1

Andre Larente from DIAGNOS on Deal with World’s Largest Eyecare Retailer EssilorLuxottica

InvestorNews host Tracy Weslosky recently conducted an insightful interview with André Larente, President and Director of DIAGNOS Inc. (TSXV: ADK | OTCQB: DGNOF), to discuss the company’s exclusive distribution agreement with EssilorLuxottica. DIAGNOS, known for its pioneering FLAIRE platform based on Artificial Intelligence (AI), has solidified its position as a leading provider of retinal analysis technology through this partnership. This agreement, announced on December 11th, is a significant milestone for DIAGNOS, signaling its growing influence in the AI and healthcare technical services sector.

During the interview, Larente highlighted the capabilities of DIAGNOS’ AI-powered retinal image analysis technology, which has been acclaimed for its role in the early detection of various eye conditions. This breakthrough technology not only enhances the quality of eye health care but also significantly impacts patient lives positively. The partnership with EssilorLuxottica, a global leader in vision care with an $87Bn market cap, is set for an initial three-year term with potential for renewal.

Under the agreement, DIAGNOS will be compensated on a per patient exam basis across EssilorLuxottica’s client network. Larente expressed his pride in the partnership, emphasizing the pivotal role it plays in DIAGNOS’ mission to broaden the accessibility of its retinal analysis technology. This collaboration is expected to contribute significantly to visual health in Canada and potentially the USA. Both DIAGNOS and EssilorLuxottica are committed to advancing eye health and technology, with a focus on offering innovative solutions to optometrists that will transform the early detection and quality of eye care in the region.

In summary, DIAGNOS’ exclusive distribution agreement with EssilorLuxottica marks a key development in its journey, reinforcing its commitment to revolutionizing eye health care through advanced AI-based technologies. This collaboration is set to make a profound impact on the early detection and treatment of eye conditions, benefiting a wide range of patients and healthcare providers.

To access the complete interview, click here

Don’t miss other InvestorNews interviews. Subscribe to the InvestorNews YouTube channel by clicking here

About DIAGNOS Inc.
DIAGNOS is a publicly traded Canadian corporation dedicated to early detection of critical health problems based on its FLAIRE Artificial Intelligence (AI) platform. FLAIRE allows for quick modifying and developing of applications such as CARA (Computer Assisted Retina Analysis). CARA’s image enhancement algorithms provide sharper, clearer and easier-to-analyze retinal images. CARA is a cost-effective tool for real-time screening of large volumes of patients.

To learn more about DIAGNOS Inc., click here

Disclaimer: DIAGNOS Inc. is an advertorial member of InvestorNews Inc.

This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This interview and any transcriptions or reproductions thereof (collectively, this “presentation”) does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase any securities in the Company. The information in this presentation is provided for informational purposes only and may be subject to updating, completion or revision, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any information herein. This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. This presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisors. Each person to whom this presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. Prospective investors are urged to review the Company’s profile on SedarPlus.ca and to carry out independent investigations in order to determine their interest in investing in the Company.




Investor.Coffee (12.11.2023): CDN Healthcare Deal, U.S. Dollar Gains Strength on Japan’s Nikkei Rebound

DIAGNOS Inc. (TSXV: ADK | OTCQB: DGNOF), a company we have followed for several years out of Montreal, announced a landmark move for the Canadian healthcare sector this morning. DIAGNOS Inc., a pioneer in artificial intelligence (AI)-driven health solutions, has announced a significant distribution agreement with global ophthalmic leader EssilorLuxottica. This exclusive Canadian contract, unveiled on December 11, 2023, signifies a pivotal moment for DIAGNOS, cementing its place in the market with its cutting-edge retinal analysis technology.

Renowned for its effectiveness in the early detection of eye conditions, DIAGNOS’s technology will now reach a broader audience through EssilorLuxottica’s expansive network, promising an enhancement in the quality of eye health care. The three-year agreement, which includes a renewal option, entails a per-patient exam payment model to DIAGNOS. André Larente, DIAGNOS’ President, highlighted this partnership’s role in broadening the accessibility of their innovative technology, aligning with their mission to foster visual health in Canada and globally.

Market Watch: Global and US Economic Indicators

As the business day commences, futures indicate a downtrend, shadowing a dip in commodities like oil and gold. In the U.S., we are awaiting the Federal Reserve’s monetary policy meeting and upcoming inflation data, which will shed light on the possibility of a soft landing for the economy. European shares are also experiencing a downturn, while Japan’s Nikkei has seen a rebound. The U.S. dollar is gaining strength against the Japanese yen.

U.S. Central Bank’s Interest Rate Decision

The U.S. Federal Reserve is set to release its interest rate decision on Wednesday, following last month’s unchanged benchmark rate. Wall Street is increasingly optimistic about maintaining the status quo in December, as efforts to curb inflation without triggering a recession seem fruitful.

In recent global and U.S. economic updates, the market is witnessing a downward trend in futures, mirroring declines in commodities such as oil and gold. Investors in the U.S. are particularly focused on the upcoming Federal Reserve’s monetary policy meeting and the release of inflation data, which are crucial in assessing the prospects of a soft economic landing. Meanwhile, European shares are experiencing a downturn, in contrast to Japan’s Nikkei which has shown a rebound. The U.S. dollar is strengthening against the Japanese yen.

The U.S. Federal Reserve is poised to announce its decision on interest rates this Wednesday, following a period of unchanged rates. There’s a growing sentiment on Wall Street that the Fed might maintain the current rates in December, buoyed by successful measures to control inflation without pushing the economy into recession.

Some Business News Highlights:

  • In corporate developments, French AI company Mistral AI, founded by ex-employees of Meta and Google, has raised €385 million in a second funding round, marking a significant milestone. This funding, led by investors such as Andreessen-Horowitz and LightSpeed Ventures, positions Mistral AI as a key player in the global AI landscape. The company also launched Mixtral 8x7B, an AI platform intended to compete with leading AI platforms like OpenAI’s ChatGPT and Google’s Bard.
  • In the healthcare sector, U.S. insurer Cigna (NYSE: CI) has ended its merger talks with Humana Inc. (NYSE: HUM), citing price disagreements, and instead announced a significant $10 billion share buyback plan. This development follows several years after regulatory interventions blocked major consolidations in the health insurance sector.
  • In the tech industry, NVIDIA Corporation (NASDAQ: NVDA) is expanding its footprint in Vietnam, partnering with leading tech companies in the country. This expansion, announced by NVIDIA’s CEO, focuses on AI and digital infrastructure, aligning with Vietnam’s ambitions to advance in chip design and manufacturing, especially in the context of ongoing U.S.-China trade tensions.
  • In the energy sector, Occidental Petroleum Corp. (NYSE: OXY) has confirmed its acquisition of CrownRock, an energy producer in the Permian basin, in a $12 billion deal. This acquisition is a strategic move for Occidental’s growth in the energy sector.
  • TC Energy Corp.’s (TSX: TRP | NYSE: TRP) Coastal GasLink project is currently facing legal challenges due to construction delays, which could significantly impact its financial liabilities. This comes as the C$14.5 billion project was completed at over double its initial budget.
  • In corporate leadership news, Tellurian Inc. (NYSE American: TELL) has announced a major change by removing its chairman and co-founder, Charif Souki, from his executive role. This change is part of the company’s strategy to improve its prospects, particularly focusing on its Driftwood LNG project.
  • Tesla Inc. (NASDAQ: TSLA) is under pressure from Nordic pension funds to respect collective bargaining rights for its employees. Concurrently, the company is defending its use of “Autopilot” and “self-driving” terminology amid regulatory examination in California.

Globally, the Middle East continues to experience intense conflict with no resolution in sight. The UK’s manufacturing sector is showing signs of recovery, which could bolster the sector in the coming year. UK Prime Minister Rishi Sunak faces a critical week with a COVID-19 inquiry and a key parliamentary vote on asylum policy. The EU has reached a provisional deal on AI regulation, which includes governing biometric surveillance. Bosch is adapting to changing auto sector demands, leading to significant job cuts. Signa Development Finance’s potential insolvency proceedings highlight ongoing market challenges. Lastly, BP Plc’s Bilbao Plant sale to Gunvor reflects BP’s strategic transformation and commitment to becoming a net-zero company.

We kicked off our morning by tweeting our Top 10 Trending columns and videos for the last week that we encourage you to review:

  1. Top 10 Trending on #InvestorNews, in the #1 Position, READ: #TechnologyMetals Week-in-Review: The British Stake Claim in #Quebec and the #Uranium Boom in North America https://bit.ly/47jhbmH cc: @IN8News @Energy_Fuels @F3Uranium @Ucore @FirstPhosphate @CriticalMnlInst #criticalminerals
  2. Top 10 Trending on #InvestorNews, in the #2 Position, READ: The #CriticalMineralsInstitute Report (CMI 11.2023): #Neodymium price is down 33% over the Past Year, Record Plug-In #EV Car Sales for September https://bit.ly/3QV2dfE cc: @IN8News #RareEarths #Lithium #ElectricVehicles @CriticalMnlInst #criticalminerals
  3. Top 10 Trending on #InvestorNews, in the #3 Position, READ: Harris Administration’s $3.5 Billion Investment in U.S. #Battery Manufacturing and #CleanEnergy Transition https://bit.ly/46hagJe cc: @IN8News #criticalminerals #Biden @CriticalMetals_ @CriticalMnlInst
  4. Top 10 Trending on #InvestorNews, in the #4 Position, READ: Update on the #Teck and #Glencore deal: “Never Fear, the Feds are Here” https://bit.ly/4a1fUlR cc: @IN8News #MetallurgicalCoal @TeckResources @Glencore
  5. Top 10 Trending on #InvestorNews, in the #5 Position, READ: Exploring the Future of #Battery Technology and #CriticalMinerals https://bit.ly/3G4HSQ1 cc: @IN8News @CriticalMnlInst @FirstPhosphate
  6. Top 10 Trending on #InvestorNews, in the #6 Position, WATCH: Progress in #Pathogen Defense, Dr. Carolyn Myers Discusses #FendX’s Collaboration with Dunmore for #REPELWRAP™ https://youtu.be/rLDSZ8KMBqs via @YouTube #Nanotechnology #PathogenRepellent #VirusRepellent #DiseaseControl @FendXTech $FNDX.C $FDXTF
  7. Top 10 Trending on #InvestorNews, in the #7 Position, WATCH: Greg Fenton on how #Zentek’s Advancement in #Aptamer Technology is Revolutionizing #Biotech https://youtu.be/LJrNda7ZHRQ via @YouTube #PathogenDetection #ZenGUARD #HVACFilters @ZentekLtd $ZTEK $ZEN.V
  8. Top 10 Trending on #InvestorNews, in the #8 Position, WATCH Jack Lifton interviews Mark Chalmers on #EnergyFuels Strategic Path to Dominance in the North American #RareEarths Market https://youtu.be/a1xrRJB5hAw via @YouTube #Uranium #cirticalminerals @Energy_Fuels $UUUU $EFR
  9. Top 10 Trending on #InvestorNews, in the #9 Position, WATCH: Terry Lynch on @PowerNickel’s collaboration with #CVMR Corporation for developing Canada’s first #CarbonNeutral #Nickel mine https://youtu.be/xOtY6U7ovRE via @YouTube #CriticalMinerals #BatteryMetals $PNPN.V $PNPNF @terrybali
  10. Top 10 Trending on #InvestorNews, in the #10 Position, READ: Who might follow #PatriotBattery Metals #lithium exploration success in Canada in 2024? https://bit.ly/48fFh1P via @YouTube #criticalminerals @BrunswickExplo1 @WinsomeRes



Eyes on DIAGNOS as commercialization gains momentum

The best time to buy an emerging company is when it begins commercialization. At this stage all the hard years of product development and certification are done and, if successful, the revenues are about to flow. Today’s company looks to be in just that stage.

Diagnos Inc. (TSXV: ADK | OTCQB: DGNOF) (“DIAGNOS”) has developed its FLAIRE Artificial Intelligence (AI) tele-ophthalmology platform, which uses Computer Assisted Retina Analysis (CARA) to examine a patient’s retinas in their eyes for the early detection of diseases, such as diabetes, and of conditions such as cardiac hypertension and stroke. CARA’s image enhancement algorithms provide sharper, clearer and easier-to-analyze retinal images.

CARA has been cleared for commercialization by the following regulators: Health Canada, the FDA (USA), CE (Europe), COFEPRIS (Mexico) and Saudi FDA (Saudi Arabia). DIAGNOS already operates in 16 countries, 131 screening sites, has 222,034 patients under their care, and has performed more than 400,000 retinographies around the world. DIAGNOS’ CARA achieves great precision of diabetic retinopathy pre-diagnoses, reaching a sensitivity of 98.4%, specificity of 97.6% and a certainty of 97.9%.

DIAGNOS has a significant and growing global business

Source: DIAGNOS website

DIAGNOS commercialization is gaining momentum

The following recent news items give a feel for how fast DIAGNOS is moving in their global rollout:

  • July 22, 2021 – DIAGNOS announced the official opening of the AI Assisted screening clinic at Magrabi Hospital in Saudi Arabia. In the country the incidence of diabetes is about 27% of the population, hence the clinic hopes to play a key role in the diagnosis of diabetic retinopathy which can lead to gradual complete loss of vision. Magrabi Hospitals and Centers has thirty-four branches in the Middle East. DIAGNOS President, André Larente, stated: “We extend our best wishes to Magrabi hospitals. We would also like to thank everyone in attendance for their time and efforts in making this project a reality. The main beneficiaries will be many thousands of diabetic patients whose vision can now be protected through this collaboration.”
  • July 28, 2021 – DIAGNOS announced a pilot in Spain with three franchisees from Opticalia Group.
  • August 16, 2021 – DIAGNOS announced signing a Memorandum of Understanding (MoU) with Essilor International. The MoU is non-binding and forms the basis of a potential distribution agreement with Essilor International for DIAGNOS’ CARA platform. Essilor International is the world’s leading ophthalmic optics company. Essilor designs, manufactures and markets a wide range of lenses and diagnostic ophthalmic instruments. DIAGNOS President Larente commented: “DIAGNOS is focused on its commercialization strategy and pursuing opportunities with potential partners. We are very pleased that our AI-based technology has attracted the attention of global eyecare sector leaders such as Essilor International and we are looking forward to our discussions with respect to a mutually beneficial potential worldwide distribution agreement.”
  • September 2, 2021 – DIAGNOS announced a three-year contract renewal with Optina Diagnostics providing a Telemedicine Platform to support their early detection of Alzheimer’s Disease.
  • September 14, 2021 – DIAGNOS announced a 3-year contract with Cielo Vista Eye Clinic in Mexico. DIAGNOS will supply its CARA platform and enable Cielo to screen its patients for Diabetic Macular Edema and Diabetic Retinopathy.
  • September 16, 2021 – DIAGNOS announced a multi-year contract with Juarez Health & Medical Tourism Cluster in Mexico. The Cluster is the only certified health network in the country of Mexico, focuses on medical tourism, and serves between 10-12,000 patients a day.

Magrabi Hospitals launches initiative for early screening for diabetic retinopathy using DIAGNOS’s CARA platform in Saudi Arabia

Source: Diagnos Inc.

Other earlier commercialization deals have been done with Óptica Central (third largest optical retailer in Costa Rica), a distribution agreement in Europe with Diagnos Europe GmbH, and IRIS The Visual Group Inc. (Canada) including the New Look Vision network (North America).

Revenues forecast to soar from now to 2023

As you can see just from the recent news above, DIAGNOS is having significant success in commercializing its products globally. As a result of this, revenue is forecast to increase dramatically from C$270,000 in 2021 to C$800,000 in 2022, and C$7,920,000 in 2023. If achieved the Company is forecast to be profitable and trade on a forecast 2023 PE of 16.0.

Closing remarks

DIAGNOS Inc. trades on a current market cap of C$33 million. Global commercialization of their FLAIRE/CARA ophthalmology platform is clearly gaining momentum which should lead to rapidly growing revenues. The medical technology space can exhibit rapid growth once a new technology gains market share or becomes a leader. Stay tuned.