Substrate Artificial Intelligence (AQSE:SAI.B, OTCQB:SUIAF) is now advancing preparations for the IPO of its subsidiary 4D Médica.
The artificial intelligence company has pitched a preliminary valuation between €18 million and €25 million for the float, ahead of the process, and has hired consultancy LKS Next.
This firm will assist preparations for the IPO. LKS Next has been commissioned to assist with the preparation of all necessary documentation, market selection, and investor engagement for the IPO, Substrate highlighted.
4D Médica is majority owned by Substrate AI, after it acquired a 70% stake in 2022, and it has worked closely with the company as it has advanced its AI-driven medical imaging systems.
In today’s statement, Substrate noted that 4D Médica has seen a notable increase in sales, tripling its revenue from €1.8 million in 2021 and maintaining an EBITDA margin above 25%.
The company has developed a software-as-a-service (SaaS) AI platform for diagnostic imaging, which is designed to improve the accuracy of diagnoses in veterinary and human medicine.