IMEXHS secures global partnership deal with Canon Medical Systems

IMEXHS ASX IME software medical imaging
IMEXHS has integrated Vitrea’s full suite into its AQUILA platform.

Medical imaging company IMEXHS (ASX: IME) signed a global partnership agreement with Vital Images, for its advanced visualisation software Vitrea, ahead of its half-year results, set to be published later this month.

Earlier this month, IMEXHS received final device classification for its Hiruko Essential software suite in the US, which means it is clear to begin sales.

The IMEXHS-Vital partnership is expected to “significantly increase” IMEXHS’ global reach, with the company confident it can also strengthen AQUILA’s value proposition among healthcare institutions.

Significantly, Vital is a subsidiary of US-based Canon Medical Systems Corporation, a leader in healthcare imaging and one of the most recognised medical imaging postprocessing companies in its industry.

Currently, Vital’s technology is widely procured by various top-end hospitals worldwide, including highly sophisticated “multi-modality” advanced visualisation systems to enhance diagnostics with supplementary clinical tools.

According to Canon, Vitrea’s suite of applications offer state-of-the-art solutions for 2D, 3D and 4D “advanced visualisation to analyse medical data from various modalities”, including computed tomography, magnetic resonance spectroscopy, X-Ray angiography, emission tomography, ultrasound and single-photon emission computed tomography.

In parallel to announcing the new partnership, IMEXHS said it has already integrated Vitrea’s full-suite of cutting-edge advanced visualisation tools into its AQUILA platform, allowing IMEXHS customers to perform advanced visualisation processes directly from AQUILA, through its on-demand subscription model hosted in the Azure cloud.

IMEXHS released a statement saying the agreement “makes advanced visualisation processing more efficient for physicians” by streamlining the process and centralising processes within the AQUILA platform and enabling them to take advantage of AQUILA’s superior teleradiology capabilities.

“This is a significant agreement for IMEXHS and our full-service imaging capabilities,” said Alejandro Varettoni, chief sales officer of IMEXHS.

“A global partnership with a company of Vital’s calibre energises our ambitious growth plans into new markets and customer segments. We believe this is the first agreement in a long-term and mutually beneficial partnership,” he said.

Balancing into the black

In addition to the Vital deal, IMEXHS plans to issue an additional 16.6 million shares as part of a placement set to conclude in November this year.

More specifically, the company is proposing to issue the shares at $0.03 per share for a total of $500,000 in cash to nominee Domatorisaro, a company directed by Dr Doug Lingard, who is also a director of IMEXHS.

The placement intends to repay $1 million of borrowings from Domatorisaro, as part of a funding deal brokered by Dr Lingard in August 2020, to assist IMEXHS in reducing its debt burden.

“This is a strong statement of support from Dr Lingard and has the effect of improving the balance sheet of the company, with a reduction in borrowings, current liabilities and interest cost and an increase in equity. It reflects conviction in the company’s strategy and in its execution,” IMEXHS chairman Doug Flynn said.

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