Last checked at 18 Aug 2023 11:20
18 August 2023
IQ-AI Ltd
("IQ-AI" or the "Company")
IB and GE HealthCare Enter into Commercial Agreement
IB Neuro and IB Delta T1 to be embedded in GE HealthCare's (GEHC) MR Smart Subscription
Imaging Biometrics, LLC (IB), a wholly-owned subsidiary of IQ-AI Ltd (LSE: IQAI, OTCQB: IQAIF), is pleased to announce that it has entered into a commercial agreement with GE HealthCare ('GEHC'). The agreement makes IB's products available on GEHC's MR Smart Subscription.
IB Neuro and IB Delta T1 maps are applications that accept magnetic resonance imaging (MRI) data as input and automatically compute quantitative and proprietary images as output.
The global MRI market is projected to grow at a rate of 7% and surpass $11 billion by 2030, and GEHC is a leading player in that market. A factor driving that growth are complementary advancements in imaging software, such as IB's quantitative solutions. [1]
The agreement will make IB's solutions available directly to the large number of sites with GEHC systems already installed as well as new systems scheduled for installation. Ultimately, this agreement streamlines clinical adoption of IB's solutions and represents a potential transformational step-change in business activity for IQAI.
"This agreement with GEHC is a major development for IQAI," said Trevor Brown, CEO of IQ-AI. "It means that any hospital or imaging center that has a GEHC MRI scanner and MR Smart Subscription will have access to IB's solutions."
1. Magnetic Resonance Imaging Equipment Market Forecast, 2030 (fortunebusinessinsights.com)
--ENDS-
The Directors of the Company accept responsibility for the contents of this announcement.
For further information, please contact:
IQ-AI Ltd Trevor Brown/Vinod Kaushal/Brett Skelly/Michael Schmainda Tel: 020 7469 0930 |
Peterhouse Capital Limited (Financial Adviser and Broker) Lucy Williams/Heena Karani Tel: 020 7220 9797 |
About Imaging Biometrics® LLC: IB is a wholly-owned subsidiary of IQ-AI Limited, (LON: IQAI) (OTCQB: IQAIF), and focuses on delivering quantitative imaging platforms and therapeutics that transform how clinicians diagnose and treat patients more efficiently and effectively. For more information about Imaging Biometrics, visit the company's website at www.imagingbiometrics.com. Follow IB on Twitter, @IQAI_IB.