Nanox (Nasdaq/TASE: ), an Israeli corporation that has developed the first solid-state digital X-ray source designed to be used in real-world medical imaging applications, has just announced its new semiconductor chip fabrication plant in South Korea. The new facility is already opened and operational, soon becoming the main production site of the Nanox micro-electro-mechanical system.
“We are proud to be opening this facility as planned, a facility that embodies our technical expertise and know-how in producing technology that we believe will revolutionize medical imaging,” said Ilung Kim, Ph.D., Head of Nanox Korea.
The facility is a highly advanced fabrication plant that is used for the production of MEMS. It spans 12,000 square meters and includes a 1,200-square-meter MEMs clean room. The facility was intentionally opened right next to the world’s largest semiconductor cluster in Yongin, South Korea. Nanox hopes that by the middle of 2022 this new plant will reach its scale for production. Along with this, Nanox is developing its production line capabilities and operational assembly lines at its Israeli facility. This will enable the increased production and shipment of the Nanox.ARC.
The Nanox.Source is a holistic, end-to-end medical imaging solution that integrated the advantages of Nanox.ARC, AI imaging, and teleradiology services. It’s a semiconductor chip that works by replacing the filament in the analog X-ray tube with an on/off toggling feature that minimizes the length of each operation. There is no heat associated with electrons exiting the chip due to the Nanox X-ray digital source maintaining a low temperature. The expected range for the X-ray’s tube is 20-120KV and it is small in size and light in weight.
“Amidst a global supply chain crisis, the new facility enables Nanox to produce our own supply of semiconductor chips that are integral to the Nanox.ARC,” said Erez Meltzer, Chief Executive Officer of Nanox. “Our new fabrication plant is an important part of our strategy of vertical integration to ensure we can deliver a global, connected medical imaging solution with the potential to meaningfully expand the delivery of healthcare.”
The new facility is equipped to perform advanced semiconductor fabrication practices including chemical vapor deposition (CVD), physical vapor deposition (PVD), 200nm photolithography using a krypton fluoride scanner, and electrochemical metal etching, of think films, dry etching, wet and chemical etching, chip inspection and testing in a vacuum and C-module packaging for X-ray tubes.
The technology allows for reduced costs for the Nanox.ARC compared to common 3D imaging systems due to the transformation from an analog X-ray source to a digital X-ray source. This is already bringing in significant revenue for the company. The fourth-quarter revenue of 2021 was $1.3M and the non-GAAP gross profit was $0.2 million.
“The fourth quarter and fiscal year 2021 was pivotal for Nanox,” said Erez Meltzer, Chief Executive Officer. “We have made considerable headway towards commercialization over the past year and are pleased that our previously announced strategic transactions have begun generating revenue.”
Nanox is developing a holistic, end-to-end medical imaging solution that integrates Nanox.ARC, AI medical imaging technology and teleradiology services. While it continues the ongoing integration of the recent Nanox.AI, USARAD and MDW acquisitions, Nanox believes these acquisitions will enhance the services provided by the Nanox solution.
Nanox merged with Zebra Medical Vision, Ltd., a deep-learning medical imaging analytics company in the fall of 2021. Zebra is now operating as Nanox.Ai. Additionally, the Company announced the completion of two strategic acquisitions: MDWEB, LLC. (“MDW”), a decentralized marketplace connecting imaging facilities with radiologists, and USARAD Holdings, Inc., a leading provider of teleradiology services.
“The closing of these acquisitions is another step on our path to democratizing the delivery of healthcare. Integrating AI-powered imaging analysis and a global teleradiology solution with our groundbreaking Nanox.ARC technology takes us one step closer to creating a global, connected medical imaging solution with the potential to meaningfully expand delivery of healthcare,” said Ran Poliakine, Chairman Founder of Nanox. “We believe the solution we are building will streamline the medical imaging continuum – from image capture, through analysis to intervention by trained radiologists – and has the power to significantly improve access, reduce costs and enhance efficiency, thereby dramatically increasing the delivery of healthcare.”
Nanox, founded by the serial entrepreneur Ran Poliakine, is an Israeli corporation that is developing a commercial-grade digital X-ray source designed to be used in real-world medical imaging applications. Ran Poliakine founded Powermat, the company that pioneered wireless charging. Nanox believes that its novel technology could significantly reduce the costs of medical imaging systems and plans to seek collaborations with world-leading healthcare organizations and companies to provide affordable, early detection imaging services for all. For more information, visit www.nanox.vision.
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