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Echo IQ Secures Echosolv Reseller Agreement with SARC MedIQ to Broaden US Uptake

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By Imelda Cotton - 
Echo IQ ASX EIQ Echosolv Reseller Agreement SARC MedIQ US Uptake
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Echo IQ (ASX: EIQ) will expand the use of its EchoSolv AI software through a US network of hospitals and cardiology practices after locking in a reseller agreement with provider SARC MedIQ.

Under the terms, EchoSolv will be utilised by more than 1,500 physicians at over 300 healthcare facilities and clinics within SARC’s network in an effort to improve the early detection of aortic stenosis (valvular heart disease).

Echo IQ is currently working with SARC’s sales force on the application and benefits of EchoSolv AS, prior to its integration into existing hospitals and clinics within the group’s network.

Fast Assessment

Echo IQ’s technology allows for fast probability assessment of aortic stenosis using uploaded echocardiographic measurements to see how a patient’s condition has evolved over time, with a flagship clinical trial in April 2023 showing the software to be capable of identifying 72% more patients with severe cases of the condition than human diagnosis alone.

The new agreement should considerably reduce Echo Solv’s sales and distribution costs, providing Echo IQ with faster market access and scale across the US and the potential for a predictable and ongoing revenue stream.

Echo IQ will receive payment on a per scan basis and will renegotiate the price to the increased reimbursement rate once it gains the Category III CPT code from the American Medical Association.

The CPT code tracks emerging technologies, services, and procedures to gather data on the clinical efficacy and utilisation of new medical advancements.

Commercialisation Strategy

Echo IQ (US) president Don Fowler said the new agreement would advance the company’s US commercialisation strategy.

“In recent weeks, I have engaged with SARC’s executive team to highlight the considerable benefits that EchoSolv can deliver to cardiologists and hospitals across the US,” he said.

“This agreement highlights the potential opportunity for third-party sales to deliver a consistent revenue on a lower cost base, and we look forward to supporting SARC with the integration and expansion phase over the coming months.”

Heart Health Diagnosis

SARC MedIQ chief executive officer Asaad Hakeem said Echo Solv offered much potential in the diagnosis of heart health.

“Our mission has always been to give physicians smarter and faster tools that translate into better patient care, and EchoSolv slots perfectly into that vision,” he said.

“By bringing AI-driven early detection to our health facilities, we can help cardiologists surface critical findings earlier, streamline their workflows and ultimately improve outcomes for tens of thousands of patients across the US.”