NANO-X IMAGING LTD (“Nanox” Nasdaq: NNOX), an innovative medical imaging technology company, announced that its deep-learning medical imaging analytics subsidiary, Nanox.AI, has entered into a strategic partnership with Ferrum Health, a leading player in the AI platform market. Partnership with Ferrum Health offers unprecedented data security and an integrated AI platform to streamline health systems’ adoption of AI technology. This partnership will broaden the reach of Nanox.AI’s technology for medical imaging including Nanox.AI’s Bone solution (HealthOST) and Cardiac solution (HealthCCSng), while complementing existing AI marketplace offerings with these population health solutions that provide a holistic radiology workflow solution that can enhance healthcare professionals by promoting better productivity and, subsequently, outcomes.
At the beginning of May, shares of medical technology company NANO-X IMAGING LTD skyrocketed on Monday after the company received clearance from the Food and Drug Administration (FDA) for its flagship medical device, clearing a major regulatory hurdle. Nanox stock was up by a whopping 100%! Nanox received a 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market the multi-source Nanox.ARC, including the Nanox.CLOUD, its accompanying cloud-based infrastructure. Nanox.ARC is a stationary X-ray system intended to produce tomographic images of the human musculoskeletal system adjunctive to conventional radiography on adult patients. Representing a major advancement in X-ray technology, Nanox.ARC is a multi-source digital 3D tomosynthesis system that utilizes novel, cold cathode X-ray tubes, which the Company intends to offer using an innovative pay-per-scan business model.
Ferrum Health, a healthcare AI platform developer, uses advanced machine learning algorithms to analyze medical data, providing doctors with insights and recommendations that can help improve patient care. Ferrum helps health systems overcome challenges in the adoption of AI, providing unprecedented data security along with an extensive catalog of AI applications. Through this partnership, Ferrum is offering Nanox.AI’s bone and cardiac solutions to various organizations that can benefit from them.
“As healthcare AI adoption accelerates, Ferrum gives health systems a way to partner with AI leaders like Nanox.AI in the security of their own private cloud or data center,” said Pelu Tran, CEO and co-founder of Ferrum Health. “We are thrilled to partner with Nanox.AI to enhance our joint commitment to raise the quality of health using AI and bring advanced population health AI technology, enabling health systems early detection of chronic diseases.”
Nanox.AI solutions are developed to target highly prevalent chronic and acute diseases affecting large populations around the world. Leveraging AI, Nanox.AI helps clinicians extract valuable and actionable clinical insights from medical imaging that otherwise might go unnoticed. These “hidden” or incidental findings can potentially initiate a further medical assessment to establish individual preventative care pathways for patients. Nanox.AI’s portfolio includes FDA-cleared imaging solutions in bone health, HealthOST, and cardiovascular health, HealthCCSng, that use routine medical CT imaging to help physicians identify early signs of diseases like osteoporosis and coronary artery disease, enabling further work-up and possible treatment and help prevent potentially life-changing major events.
“By fostering strong marketplace partnerships, such as with Ferrum, Nanox.AI solutions are positioned to benefit healthcare providers, while bringing a differentiated approach. This approach focuses on population health for the marketplace and IDN partners,” said Pini Ben Elazar, General Manager at Nanox.AI. (IDN, integrated delivery network, is an organization of several healthcare facilities with a shared IT infrastructure.) “These collaborations are key to expanding access to Nanox.AI solutions. Ferrum Health is an excellent partner, and we look forward to advancing our shared commitment to helping improve patient outcomes in the US and globally.”
About Ferrum Health
Ferrum Health developed an Enterprise AI deployment platform to improve patient outcomes by democratizing health systems’ access to the most innovative and impactful clinical AI technologies worldwide. The solution provides end-to-end AI Hubs able to run countless applications across many service lines and seamlessly integrate clinical imaging and administrative data. As of 2022, more than 750,000 unique patient records have been analyzed via the Ferrum Enterprise AI Platform.
About Nanox
Nano-X Imaging Ltd (Nasdaq: NNOX) is focused on applying its proprietary medical imaging technology and solutions to make diagnostic medicine more accessible and affordable across the globe. The vision of Nanox is to increase the early detection of medical conditions that are discoverable by medical imaging technologies based on X-ray, by improving access to imaging, reducing imaging costs and enhancing imaging efficiency, which Nanox believes is key to increasing early prevention and treatment, improving health outcomes, and, ultimately, saving lives. Nanox is developing a holistic imaging solution, which includes the Nanox System, comprised of Nanox.ARC using its novel MEMs X-ray source technology and Nanox.CLOUD, is a companion cloud software, integrated with AI solutions and teleradiology services.
For more information, please visit www.nanox.vision
About Nanox.AI
Nanox.AI is the deep-learning medical imaging analytics subsidiary of Nanox.AI. Nanox.AI solutions are developed to target highly prevalent chronic and acute diseases affecting large populations around the world. Leveraging AI, Nanox helps clinicians extract valuable and actionable clinical insights from routine medical imaging that otherwise might go unnoticed, potentially initiating further medical assessment to establish individual preventative care pathways for patients.
For more information, please visit www.nanox.vision/ai.
Contacts
Nanox Media Contact
Rachael Roselli
ICR Westwicke
NanoxPR AT icrinc.com
Investor Contact
Mike Cavanaugh
ICR Westwicke
mike.cavanaugh AT westwicke.com
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