Grey Matters Health (CSE:GREY, OTCQB:AGNPD, FRA:AGW0) announced that it has signed a professional services agreement with ProScan Reading Services to interpret brain PET scans from its planned NovaScan Neuroimaging Clinics location in Davie, Florida.
The clinic, which Grey Matters expects to open by September 30, will use ProScan’s fellowship-trained, board-certified subspecialty radiologists to interpret scans for patients being evaluated for Alzheimer’s disease and other neurological conditions, including frontotemporal dementia, Parkinson’s disease and Lewy body dementia. The scans will also be used for select neuro-oncology applications.
Under the agreement, ProScan will remotely review high-resolution images generated by NovaScan’s US FDA-cleared brain PET technology and return reports to the clinic for distribution to referring physicians and patients. For Alzheimer’s-related scans, reports will use the Centiloid scale, a standardized method for measuring amyloid plaque burden in the brain.
“We are very pleased to have retained ProScan to read our PET Scan images,” Grey Matters CEO Christopher J. Moreau said in a statement.
“We have designed the NovaScan Neuroimaging Clinics™ concept to not only be scalable nationally but to be highly efficient. As a result, it has always been our plan to work with the top experts in neuroradiology to read and interpret our patient brain scans and ProScan is one of the world’s best.”
ProScan VP of Sales, Marketing and Operations Judith Turner added that the company was “excited to add NovaScan Neuroimaging as a new client,”
She noted that Grey Matters is developing a national model intended to address wait times for brain PET imaging while using newer PET technology.
ProScan Reading Services, a division of ProScan Imaging, provides remote teleradiology services to about 500 medical centers, hospitals and imaging clinics worldwide. Its reading services operate across all 50 US states and several international locations.
Grey Matters’ first NovaScan clinic is being developed at the HCA Florida University Medical Office Building on the campus of HCA Florida University Hospital in Davie. The company plans for the location to provide brain-specific PET scans to support the assessment of Alzheimer’s disease and other neurodegenerative conditions.
The clinic will use the CareMiBrain PET Brain Scanning System, which Grey Matters described as a seated diagnostic brain PET scanner that does not require an integrated CT component. The company states that the system produces high-quality images while reducing radiation exposure by 25% compared with conventional PET/CT scanning.
Grey Matters plans to develop a national network of NovaScan Neuroimaging Clinics across the United States.
Shares of Grey Matters were up nearly 5% on Wednesday morning.