RE: Nice and steady rise28 Jan 2022 18:06
As per last results. Appears IUG are moving more into real time support as well. The AI division started and estimates the revenue to begin with the licence agreements with GE Healthcare
RNS snippets -Revenue relating to the Group's Clinical AI Division is expected to be £0.2m (2020: £0.0m). These first AI related products provide real-time support to?clinicians whilst they are scanning and include the ScanNav Assist obstetric AI software that is utilised by GE Healthcare as SonoLyst on their Voluson SWIFT ultrasound machine; the CE approved ScanNav Anatomy Peripheral Nerve Block (PNB) regional anaesthesia highlighting device and NeedleTrainer that incorporates the PNB software to teach ultrasound-guided needling skills.
The Group remains confident that the expected increase in face-to-face medical exhibitions and congresses, that are fundamental to the launch process of the Group's new products, and the continued roll-out of ScanNav Assist and PNB will accelerate AI revenue growth in 2022. The need for an additional US-based Human Factors study has pushed the regulatory approval and anticipated launch of the PNB clinical system in the US to the summer, but the Group still envisages the PNB system will contribute to US revenues in 2022.
They have also been in Los Angeles demonstrating the AI products last week.
So in all, with all the various training AI systems, Real Time emerging systems, links with majors GE Healthcare, Boston Scientific (more here) https://www.intelligentultrasound.com/about-us/ then I feel the re rate is beginning to finally get underway. Covid allowed even IUG to make Covid AI training systems but prevented exhibitions and classroom based learning.
Do I feel this share can reach £1 - yes certainly, this year or next year maybe even so .....