LONDON (Alliance News) - Intelligent Ultrasound Group PLC on Thursday said it is trading in line with expectations despite Brexit uncertainty hitting its Simulation unit.
Intelligent Ultrasound shares were trading 7.5% lower on Thursday at 5.55 pence each.
Ahead of its annual general meeting, the simulation software company said the development of its two real-time image analysis software solutions - ScanNav and AnatomyGuide - from its Clinical AI division is progressing well.
"We believe that they are gaining recognition by both prospective end-user clinicians and potential industry partners," said Chair Riccardo Pigliucci.
The company said its Simulation division sales for the four months to the end of April are in line with the same period last year, with significant increases in North America offset by reduced sales in the UK, due to the impact that Brexit is having on UK healthcare budgets and spending.
Looking ahead, the company also said it intends to continue to invest in its AI-based ultrasound image analysis research & development.
Intelligent Ultrasound said it is in negotiations to secure its first strategic collaboration agreement with a major ultrasound equipment manufacturer.
Pigliucci added: "With five weeks of the half-year remaining, we are encouraged by a healthy pipeline of potential orders which includes a number of high value opportunities that we expect to realise in the second quarter. Consequently, we continue to trade within expectations for the full year."
