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.

In a recent InvestorIntel interview, Tracy Weslosky speaks with Dr. Charles Meakin, Chief Medical Officer at CareOncology.com on how StageZero Life Sciences Ltd.‘s (TSX: SZLS) early diagnostic cancer test will enhance the cancer treatment program that the Health Clinics offer their patients.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Dr. Meakin went on to say that Care Oncology has developed a cancer treatment protocol that uses medicines that show 2-3 times increase in average median survival in cancer patients. He added, “We have treated over 5000 patients…our platform is very efficient and 80% of our patients re-enlist…” StageZero has developed the Aristotle® test which can simultaneously screen for 10 cancers from a single sample of blood with high sensitivity and specificity for each cancer. Dr. Meakin explained how StageZero and Care Oncology together can benefit cancer patients by combining early cancer diagnostics of StageZero and the cancer treatment protocol of Care Oncology.

To watch the complete interview, click here

About Health Clinics

Founded in London, England in 2013, Health Clinics specialises in chronic inflammation and metabolic dysfunction and uses telemedicine to provide specialist clinical services across Europe and North America. HC provides two main clinical offerings:

1. Under the trade name Care Oncology Clinic (“COC”), HC provides a patented and safe adjunctive treatment for all cancer types;

2. Under the trade name AVRT (pronounced “avert”), HC clinicians will provide a managed clinical service to help people to reduce their risk of developing chronic diseases, including cancer, using a proportionate and tolerable protocol.

About StageZero Life Sciences, Ltd.

StageZero Life Sciences is dedicated to the early detection of multiple diseases through whole blood tests. The Company’s next-generation test, Aristotle®, is the first-ever multi-cancer panel for simultaneously screening for 10 cancers from a single sample of blood with high sensitivity and specificity for each cancer. StageZero’s full service, telehealth platform includes access to physicians and phlebotomists who can prescribe and draw samples for individuals and groups, and the Company operates a CAP accredited and CLIA certified high-complexity reference laboratory in Richmond, Virginia. In addition, leveraging its specialty in polymerase chain reaction (PCR) testing for the early identification of cancer through blood, StageZero also provides both COVID PCR testing (swab and saliva) and blood test analysis (Antibody testing).

To learn more about StageZero Life Sciences Ltd., click here

Disclaimer: StageZero Life Sciences Ltd. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp. (IIC) does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete. 

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 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. Prospective investors are urged to review the Company’s profile on www.Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

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In a recent InvestorIntel interview, Jack Lifton speaks with James Howard-Tripp, Chairman and CEO of StageZero Life Sciences Ltd. (TSX: SZLS) about StageZero’s Aristotle® test for early cancer diagnosis and why the timing is right as the world prepares catch-up from the impact of COVID-19.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), James went on to discuss the marketing advantages surrounding StageZero and the Telehealth infrastructure for  Aristotle®. Aristotle®, a test that can simultaneously screen for 10 cancers from a single sample of blood with high sensitivity and specificity for each cancer; was something Jack was particularly interested in exploring the competitive advantages for versus the more invasive testing processes. For instance, StageZero’s proprietary mRNA technology platform that has been validated in more than 9,000 patients for colorectal cancer – the ColonSentry®, is such an example.

To watch the complete interview, click here

About StageZero Life Sciences, Ltd.

StageZero Life Sciences is dedicated to the early detection of multiple diseases through whole blood tests. The Company’s next-generation test, Aristotle®, is the first-ever multi-cancer panel for simultaneously screening for 10 cancers from a single sample of blood with high sensitivity and specificity for each cancer. StageZero’s full service, telehealth platform includes access to physicians and phlebotomists who can prescribe and draw samples for individuals and groups, and the Company operates a CAP accredited and CLIA certified high-complexity reference laboratory in Richmond, Virginia. In addition, leveraging its specialty in polymerase chain reaction (PCR) testing for the early identification of cancer through blood, StageZero also provides both COVID PCR testing (swab and saliva) and blood test analysis (Antibody testing).

One of the latest publicly listed digital healthcare companies began trading on the TSX Venture on April 15, 2021. Cloud DX Inc. (TSXV: CDX) is an award-winning disruptor in virtual care and digital medicine. As with many technology solutions, this pandemic has significantly advanced the adoption of virtual medicine. One New York Health System saw an incredible 4,345% increase in virtual visits between March 2 and April 14, 2020. The solutions being advanced by Cloud DX will make sure that individuals won’t be required to visit their physician nearly as often. This is especially helpful for those with mobility issues, people in remote locations or if you are simply a germaphobe.

Despite only being publicly listed for a little over a month, Cloud DX has been around since 2014 via the acquisition of the assets of the medical device division of Biosign. Included in those assets were the Pulsewave device and a set of concepts from Biosign for a more advanced health technology platform, called “VITALITI“. This became the basis for the Company’s entry into the Qualcomm Tricorder XPRIZE, a competition to create a working “Medical Tricorder” inspired by the original Star Trek TV show. The objective was to continuously record all major vital signs, at gold-standard accuracy, for 72 hours, and diagnose up to 13 unrelated health conditions with complete autonomy. Although they didn’t claim top spot, Cloud DX was one of three winners (out of 330 original teams), earning the first ever XPRIZE Bold Epic Innovator Award in April 2017.

Fast forward to today, and the company is focusing on remote patient monitoring (RPM) with a connected health kit (telemedicine from an app), which includes the Pulsewave device. RPM enables early intervention by doctors, reduces hospital admissions, improves patient survivability and has the potential for huge cost savings for the health care system. The Pulsewave wrist cuff is a unique pulse acquisition device that records up to 4,000 data points from your radial artery pulse, then securely transmits the raw pulse signal to Cloud DX’s Diagnostics servers, which display nearly instant results for heart rate, blood pressure, pulse variability and average breathing rate. I know, sounds like a blood pressure monitor that I can buy at Costco for $80 but it’s a lot more sophisticated than that. When combined with the connected health kit you can share your results with a licensed clinician or your doctor in real time. Plus there are several other features as part of the app including their proprietary Total Anomaly Score, which measures potentially dangerous heart rate variability and can be used by Cardiologists to screen patients for more serious arrhythmias. I’m pretty sure you can’t get that at Costco.

All pretty interesting stuff but as Jerry Maguire would say, “Show me the money”. There are millions of interesting ideas out there but at InvestorIntel we try to bring you actionable ideas that have a value proposition. So what’s the value proposition for Cloud DX? The estimated market value of the RPM market is forecasted to be $117 billion by 2025 with projected annual growth of 38% between 2020 and 2025. Cloud DX saw patients enrolled grow by 700% in 2020. In 2020 revenue from ongoing contracts increased by >150% over 2019 and the Company projects a >300% increase in 2021. A company that can innovate and differentiate itself from the competition has a pretty good runway to grow in this segment of virtual care. With that in mind, on Tuesday Cloud DX announced a new US patent for its upcoming Pulsewave 2.0 Vital Sign Monitor.

After the completion of the go public transaction, Cloud DX has approximately 72 million shares outstanding (84.7 million fully diluted), making for a market cap of $26.6 million based on yesterday’s closing price of $0.37/share. Insiders hold 32% of the stock and have agreed to restrict the sale of their shares for 1 year. As part of the go public transaction, the Company raised $6 million, which they will need to survive as they grow. As with most developing technology companies, it takes a while to get cash flow positive. The good news is that at least there is revenue already being generated. The cash burn rate for the first quarter was roughly $1.2 million so Cloud DX should have enough cash to drive the business forward for a few more quarters all the while building that revenue stream for shareholders.

In a recent InvestorIntel interview, Chris Thompson speaks with James Howard-Tripp, Chairman and CEO of StageZero Life Sciences Ltd. (TSX: SZLS) about StageZero’s COVID-19 testing revenue and Q1 financial results.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), James went on to say that StageZero, in its Q1 financial results, reported a “healthy revenue with more than 60% margin from COVID testing”. He added that the company “has signed a series of long-term contracts” and expects the revenue to remain healthy for the rest of the year and will continue to build as revenues from Aristotle as part of the AVRT Program starts to come in. Touching on the recently announced Rexall partnerships to sell StageZero COVID-19 saliva test kits, James adds how the acquisition of Health Clinics Limited will create multiple revenue streams and make the launch of its multi-cancer test more impactful.

To watch the complete interview, click here

About StageZero Life Sciences, Ltd.

StageZero Life Sciences is dedicated to the early detection of multiple diseases through whole blood tests. The Company’s next-generation test, Aristotle®, is the first-ever multi-cancer panel for simultaneously screening for 10 cancers from a single sample of blood with high sensitivity and specificity for each cancer. StageZero’s full service, telehealth platform includes access to physicians and phlebotomists who can prescribe and draw samples for individuals and groups, and the Company operates a CAP accredited and CLIA certified high-complexity reference laboratory in Richmond, Virginia. In addition, leveraging its specialty in polymerase chain reaction (PCR) testing for the early identification of cancer through blood, StageZero also provides both COVID PCR testing (swab and saliva) and blood test analysis (Antibody testing).

In a recent InvestorIntel interview, Tracy Weslosky spoke with James Howard-Tripp, Chairman and CEO of StageZero Life Sciences Ltd. (TSX: SZLS) about StageZero’s first-quarter financial results, Aristotle as part of the AVRT Program and the Rexall Partnership for COVID-19 Saliva Tests.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), James went on to provide an update on the launch of Aristotle as part of the AVRT Program and StageZero’s intent to acquire Health Clinics Limited. Unlike COVID-19 tests, cancer tests in the U.S. have to be prescribed by a physician. James explained how Health Clinics as “part and parcel” of StageZero will help them reach patients and have a bigger impact than trying to launch a stand-alone cancer-detection service. Driven by the goal “…to reduce the incidence of late-stage cancer by 50% over the next decade through early interventions”, James said that the acquisition of Health Clinics will set StageZero in liquid biopsy, early detection of disease and telemedicine, three of the highest growth areas within healthcare right now.

To watch the complete interview, click here

About StageZero Life Sciences, Ltd.

StageZero Life Sciences is dedicated to the early detection of multiple diseases through whole blood tests. The Company’s next-generation test, Aristotle®, is the first-ever multi-cancer panel for simultaneously screening for 10 cancers from a single sample of blood with high sensitivity and specificity for each cancer. StageZero’s full service, telehealth platform includes access to physicians and phlebotomists who can prescribe and draw samples for individuals and groups, and the Company operates a CAP accredited and CLIA certified high-complexity reference laboratory in Richmond, Virginia. In addition, leveraging its specialty in polymerase chain reaction (PCR) testing for the early identification of cancer through blood, StageZero also provides both COVID PCR testing (swab and saliva) and blood test analysis (Antibody testing).

StageZero Life Sciences Ltd. (TSX: SZLS) is a life science and telehealth company that recently launched Aristotle®, which is its next-generation, proprietary clinical test for the early detection of cancer. From one blood sample, it can screen for 10 cancers.

On the same day as it officially launched Aristotle®, StageZero announced that it entered into a Letter of Intent (LOI) to purchase Health Clinics Limited and Health Clinics USA Corp. (together, the “HC Companies”).

Founded in London, England in 2013, the HC Companies use telemedicine to provide clinical services across Europe and North America.

Under the trade name Care Oncology Clinics, the HC Companies offer cancer (oncology) treatment services and, under the trade name AVRT, focus on early disease detection utilizing proprietary treatments.

James Howard-Tripp, Chairman and CEO of StageZero, explained the rationale behind the transaction,

“Together with Health Clinics, we are taking three of the highest growth areas within healthcare – liquid biopsy, early detection of disease and telemedicine – and combining them into one innovative company that with ground-breaking technology, will find disease early (as opposed to late and with presentation of symptoms), diagnose and treat, or diagnose and seek to prevent late stage disease, with a telemedicine reach in both North America and the UK/Europe.”

According to market research by Fortune Business Insights, the Telehealth market is estimated to be US$559 billion by 2027 and Reports & Data estimates the Early Disease Detection market to be worth US$115 billion by 2027.

The continued rise of cancer cases and deaths has shifted the attention towards the adoption of early detection and diagnosis techniques for cancer, to help lower health costs and increase survival rates.

Source: StageZero Company Presentation (April 1, 2021)

StageZero – From Point Solution to Circle of Care

With the COVID-19 pandemic, many physician practices are closed, so patients are not visiting their doctors in person but are connecting via telehealth.

To illustrate the dramatic decrease, according to an article last month by the National Cancer Institute, the COVID-19 pandemic led to a sharp decrease in the number of cancer screening tests. One example from Massachusetts General Brigham Hospital recorded a 74% decrease in cancer screening tests during the same 3-month period in 2019 (pre-pandemic) versus 2020.

Unlike COVID-19 tests, cancer tests in the U.S. have to be prescribed by a physician. Therefore StageZero needed to find a way to reach patients with doctor support.

The HC Companies acquisition immediately filled this requirement and more, as it provides an existing network of physicians as well as patients, a marketing group, and a 24/7 support team.

StageZero believes that launching Aristotle via AVRT will have a bigger impact than trying to launch a stand-alone cancer-detection service and positions it uniquely in the market.

In addition, the Company commented that the release of Aristotle® via AVRT is just the first step and StageZero will continue to develop a broader market for the product including physician networks, health care insurance providers, and employers.

StageZero’s new cancer-testing platform Aristotle® becomes integrated with HC Companies’ AVRT service. The AVRT program focuses on finding diseases early, notably cancer, and then would work with the primary care physicians and oncologists of HC Companies’ Care Oncology Clinics to establish appropriate treatment.

Therefore StageZero will have a fully integrated telehealth platform that supports both its cancer diagnostics program as well as treatment services – creating the “Circle of Care” – and now multiple revenue streams.

Source: StageZero Company Presentation (April 1, 2021)

Lab Expansion for COVID-19 and Aristotle® Testing

StageZero continues to expand its CAP-accredited and CLIA certified high complexity reference laboratory in Richmond, Virginia. Being CAP-accredited and CLIA certified ensures that the testing facilities and test results are meeting or exceeding the industry standards for clinical laboratory testing.

Last year, to help out during the COVID-19 crisis, StageZero launched a COVID-19 testing service, offering both the serology point-of-care and lab-based polymerase chain reaction (PCR) tests.

The Company’s revenue benefited from offering various COVID-19 tests as fourth-quarter 2020 results released last month had revenue at US$2.6 million, up 77% quarter-over-quarter and up over 5,000% from the same period last year.

StageZero forecasted that COVID-19 testing-related revenue should be even higher in the first quarter of 2021.

Expanded Testing in Canada with Ichor Blood Services

Yesterday, StageZero announced that its partner Ichor Blood Services will distribute StageZero’s COVID-19 PCR saliva test kits through Canadian retail outlets in British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario starting immediately.

James Howard-Tripp commented: “StageZero is proud to make these kits available to Canadians to enable immediate and convenient PCR testing, at home, via supervised telehealth, for families, companies, and travelers. COVID-19 PCR testing is considered the gold standard for helping to determine if someone is infected with SARS-CoV-2, the virus that causes COVID-19, and saliva-based PCR testing is an easy, non-invasive way to collect a sample”.

Final Thoughts

The recent C$7.2 million financing has strengthened the Balance Sheet and revenue from the COVID-19 testing brings additional cash flow that should enable the Company to meet its current obligations, complete the HC Companies acquisition, and commercialize its new offering.

StageZero should continue to benefit from the market’s shift to telehealth and book revenue growth from its COVID-19 testing service and product offering.

With the growing need for both COVID-19 and cancer testing, revenue could double for the Company this year.

StageZero closed today at C$0.77, up 22% on the day, and currently has a Market Cap of over C$41.2 million.

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. Targeting the early detection of these diseases by using AI to better examine and diagnose patients as early as possible is the focus for Diagnos Inc. (TSXV: ADK | OTCQB: DGNOF) (‘Diagnos’).

Diagnos uses an Artificial Intelligence (AI) tool known as CARA (Computer Assisted Retina Analysis) to examine patient’s retinas in the eye for the early detection of diseases such as diabetics, hypertension and other cardiovascular disease. CARA is a tele-ophthalmology platform that integrates with existing equipment (hardware and software). CARA’s AI image enhancement algorithms make standard retinal images sharper, clearer and easier to read.

Key winning features of CARA:

• CARA is accessible securely over the internet and is compatible with all recognized image formats and brands of fundus cameras.
• CARA is a cost-effective tool for screening large numbers of patients in real-time.
• CARA complies with local regulations, is FDA cleared for commercialization in the United States of America, is Health Canada licensed for commercialization in Canada, licensed by the Saudi FDA, COFEPRIS in Mexico and is CE marking compliant in Europe.

Diagnos’ AI software enhances the ability to detect early-stage cardiovascular disease by viewing the retina of the eye

Source: www.diagnos.ca/

Diagnos has already had their CARA platform in production since mid-February 2020 and will be following with further applications and enhancements for the technology. Diagnos already operates in 16 countries, 131 screening sites, and has 222,034 patients under their care. The Company is fully funded until about mid 2022 and should continue to grow revenues as their CARA platform commercializes further.

Diagnos operates in 16 countries and has 222,034 patients under care

Source: www.diagnos.ca/

The latest news just the past month shows how quickly Diagnos is commercializing. For example:

• 24 February, 2021 – Exclusive Strategic Partnership Agreement with Labtician Ophthalmics, a leader in Canadian and International eyecare markets. Labtician Ophthalmics has customers across Canada and will introduce and commercialize Diagnos’ AI platform to monitor ocular health and improve patient care in diabetic patients.
• 2 February, 2021 – Further deployment of Diagnos’ AI based CARA Technology in Saudi Arabia. Dr. Salman Abdullah Al-Mutairi, Executive Director of Enayah Charitable Association stated:

“For almost three years, Enayah has been using DIAGNOS’ AI based CARA platform successfully to screen thousands of diabetic patients for diabetic retinopathy with an early detection test. By using DIAGNOS’ telemedicine solution we have been able to identify patients needing care early so their vision can be saved. As part of our “Combating Blindness” program, we are extremely pleased to extend this service and add it to other tests in our fleet of vans of Mobile Smart Eye Clinics.”

Closing remarks

Diagnos Inc. is in the early days of commercializing their CARA technology having only begun in mid-February 2020, approximately a year ago. This is good news for investors as the company is trading on a market cap of just C$39 million.

I see (no pun intended) exciting times ahead for this company in a potentially huge market.

• Diagnos’ Andre Larente on the benefits of using AI for the early detection of critical health issues (video)

AI Healthcare Provider Diagnos Continues to Sign Deals and Partnerships Amid COVID-19 Crisis

Diagnos Inc. (TSXV: ADK | OTCQB: DGNOF | FSE:4D4A), a software platform provider for the early detection of critical health issues through the use of Artificial Intelligence (“AI”) and Machine Learning (“ML”), continues to sign deals and partnerships amid the current COVID-19 health crisis.

Diagnos’ CARA (“Computer Assisted Retina Analysis”) telemedicine platform, delivers eye care and disease diagnosis through standard fundus photography, which involves photographing the rear of an eye, and Diagnos’ patented image processing and AI analysis.

New 3-Year Agreement with University of Montreal Hospital Centre

On January 19, Diagnos announced a three-year partnership agreement with the Center Hospitalier de l’Université de Montréal (“CHUM”) on AI projects related to the early detection of various retinal diseases.

Since 2018, Diagnos has been working with CHUM and using AI to screen for diabetic retinopathy and added a second screening site in the ophthalmology department in 2019 to help improve the screening process for patients with more serious conditions.

The new 3-year clinical trial aims to validate if the AI algorithm (“NeoRetina”) developed by Diagnos to detect the presence of diabetic retinopathy, can detect this disease and grade its severity by the analysis of fundus photographs when compared with traditional methods.

According to the clinical trial information, more than 10% of the population of Quebec (approximately 900,000 people), suffer from diabetes and around 40% of people with diabetes suffer from diabetic retinopathy.

Retinopathy is any damage to the retina of the eyes, which may cause vision impairment, and early detection and regular check-ups are important in preventing the progression of the disease.

Dr. Fabrice Brunet, President and CEO of CHUM, commented, “We are pleased to be working with Diagnos to bring innovation and excellence in care to patients. The evaluation and refinement of Diagnos technology using artificial intelligence in the early detection of certain diseases by our ophthalmology, endocrinology, and now cardiology teams contribute to improving the quality and safety of the care provided to the population.”

New Clinics in Saudi Arabia and New Rollouts Planned in Second Half of 2021

On January 14, Diagnos announced the opening of five new screening clinics at different locations of Magrabi Hospitals & Centers located in Riyadh, Saudi Arabia, with the help of its Saudi business partner, Kanhoor Medical Co.

Magrabi is a provider of Ears-Nose-and-Throat (“ENT”), Dentistry, and Ophthalmology services with more than 35 locations in the Middle East and North Africa and delivers eye care to more than 1 million patients annually.

After 2 field trials using Diagnos’ AI-assisted screening platform, Magrabi is launching the new locations to increase the availability of the CARA service to its diabetic patients and also to reduce wait times.

The plan between Diagnos, Magrabi, and Kanhoor is to rollout the CARA platform to the remaining 22 Magrabi hospitals in Saudi Arabia in the second half of 2021 and then extend the service to the other Magrabi hospitals in the Middle East and Africa.

Healthcare Diagnosis Market Exploding

According to a 2020 industry report on the Healthcare Diagnosis market, AI in the healthcare diagnosis market was valued at US$3.6 billion in 2019 and is forecasted to reach US$66.8 billion by 2027, growing by a staggering 44% annually.

One of the largest growth segments is AI-assisted diagnostic solutions in areas such as cancer detection, cardiovascular disease, eye care, and radiology.

Worldwide Commercialization

Diagnos currently operates screening sites in 15 countries with certifications from regulatory bodies in various countries including the U.S., Canada, the European Union, and Mexico. In 2020, Diagnos signed partnerships and commercial agreements with companies that serve patients in Canada, Colombia, Guatemala, Mexico, and southern California.

Final Comments

In a recent interview, Andre Larente, CEO of Diagnos, commented that the company is fully funded for the next 18 months and he expects that more existing clients are going to restart their operations soon, which should increase revenue for Diagnos.

In addition, he said the company has a “strong pipeline” that could results in new deal announcements during the year.

Finally, screening for diabetic retinopathy is just one application of Diagnos’ AI technology and the company expects to make announcements with new partners to use the technology to detect other health issues, such as cardiovascular problems, including hypertension.

Meanwhile, even after Diagnos’ recent stock increase, the company’s market capitalization is less than C$43 million. With its recent announcements and rollout trajectory, the low valuation makes it a prime takeover target for any consolidator executing a roll-up strategy in the AI healthtech industry.

In a recent InvestorIntel interview, Tracy Weslosky speaks with Dr. Rahul Kushwah, Co-Founder and COO of Predictmedix Inc. (CSE: PMED | OTCQB: PMEDF), about their infectious disease screening technology and remote patient monitoring platform, Mobile Wellbeing.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Dr. Kushwah talked about the successful North American deployment of Predictmedix’s infectious disease screening technology at Flow Water in Aurora, Ontario. Dr. Kushwah went on to provide an update on their Mobile Wellbeing platform. “It is in telehealth and telemedicine business, but it does more than that.” He continued, “It does something which is referred to as remote patient monitoring.” Dr. Kushwah added that Predictmedix is targeting clinical trials and long-term care markets with its Mobile Wellbeing platform. FDA now has very strong guidance which is promoting remote patient monitoring and that brings Predictmedix’s technology to the forefront.

In the interview Dr. Kushwah also said that Accenture, a multinational professional services company and a Fortune Global 500 company, recently wrote about how Predictmedix is innovating to help with the current COVID-19 pandemic (click here to read the article). “It should indicate to shareholders that not only our technology is disruptive but we are clearly in a market segment which is not only ballooning right now but is going to be huge as time goes by.” Dr. Kushwah commented. To watch the full interview, click here

About Predictmedix

Predictmedix develops AI technologies focused on areas which include screening for impairment, infectious disease and mental health, and a remote patient monitoring/telehealth platform, all of which play a vital role in health and safety. Their technologies are timely to assist with the current pandemic, as well as having lasting utility that goes beyond the current crisis, extending into workplace health, safety and compliance.

To learn more about Predictmedix Inc., click here

Disclaimer: Predictmedix Inc. is an advertorial member of InvestorIntel Corp.