Intelligent Ultrasnd - Trading Update
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a
The global COVID-19 lockdown, which has affected the majority of the reporting period, has dramatically constrained the Group's ability to demonstrate and therefore sell ultrasound training simulators to hospitals around the world. However, the directors are encouraged that despite these restrictions, the Group has increased sales in the
The Group continues to work flat out to bring its range of AI-based clinical software products to market and the Group remains on target to achieve its first AI related revenues in 2021, as originally planned, even though the pandemic has restricted some access to doctors and trial patients and has delayed delivery of some new hardware components.
Discussions with a number of OEMs for the Group's second ScanNav AI software agreement continue and submission of AnatomyGuide's first regulatory filing is expected this summer.
In May the Company undertook a successful placing, raising
"The team has responded brilliantly to the COVID-19 restrictions. Working from home our direct sales team have found ways of continuing to sell our ultrasound training simulators to hospitals and our AI software development teams have continued to meet all our internal development milestones for the Group's new AI-based image analysis software. Some elements have been outside our control however and access to doctors and trial patients has inevitably caused some delay. Despite this we currently remain on target for first AI revenues in 2021, as planned.
"We are particularly proud to have produced a COVID-19 training module in record time and, by offering the module free to our customers, were able to play a significant role in training frontline staff, especially in
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Clinical AI Division
Focusses on developing deep learning-based algorithms to make ultrasound machines smarter and more accessible. Products in development include ScanNav which uses machine-learning based algorithms to automatically identify and grade ultrasound images to provide scan assessment and audit of protocol-based ultrasound scanning; and AnatomyGuide, which aims to simplify ultrasound-guided needling by providing the user with real-time AI-based needle guidance software for a range of medical procedures.
Focusses on hi-fidelity ultrasound education and training through simulation. Its three main products are the ScanTrainer OBGYN training simulator, the HeartWorks echocardiography training simulator and the
This information is provided by RNS, the news service of the
Quick facts: Intelligent Ultrasound Group PLC
Market Cap: £41.08 m
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