(Alliance News) - Avingtrans PLC on Monday said that its associate company, Adaptix Ltd, has received clearance from the US Food & Drug Administration for its first orthopaedic medical imaging product.
Avingtrans is a Cambridgeshire, England-based company which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors. Adaptix is an Oxford, England-based medical imaging technology company.
Based at the Oxford University Science Park, Adaptix has received 501(k) clearance for its first medical imaging product, the Digital Tomosynthesis Orthopaedic imaging system. The system is a portable, low-dose imaging system capable of delivering fast, lower-cost, X-ray imaging at the point of patient care. It was developed specifically to offer 3D X-ray imaging of hands, elbows and feet at a fraction of the radiation dose of traditional CT systems.
Avingtrans first invested in Adaptix in 2021 for an 11.9% stake in the business. In December 2022, it announced a further investment of GBP2 million by way of a convertible loan.
"We are delighted to receive the 510(k) clearance which allows this innovative technology, and our first medical product, to be marketed in the world's largest healthcare market. The team are energized by achieving this milestone, and we look forward to delivering enhanced orthopaedic DT imaging systems; a dental DT imaging system; and a chest DT imaging system for Intensive Care and Emergency Department use. We see a future where 3D travels to the patient at the point-of-care throughout hospitals, clinics and primary care transforming patient pathways, improving patient experience, and reducing the cost of care delivery," said Chief Executive Officer Mark Evans.
Avingtrans shares were trading 2.7% higher at 405.80 pence each in London on Monday afternoon.
By Holly Beveridge; Alliance News reporter
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