Advanced Human Imaging and PainChek gain after taking their next steps internationally
Health & Biotech
Health & Biotech
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The companies, aspiring to go global, informed shareholders of major developments in their ambitions. In the case of PainChek, regulatory clearance and for Advanced Human Imaging, a major partnership with US peer Jana Care.
PainChek’s technology uses facial recognition to assess pain in patients who are unable to verbally communicate it.
Back then it was predominantly focused on older patients with conditions such as dementia but it has been expanding its offerings to pre-verbal children.
Today PainChek revealed it was granted the green light from European and UK authorities – CE Mark and MHRA respectively – to sell and market its Infant offering in the UK and Europe adding to Australia, New Zealand, Singapore and Canada.
The latest clearance came from a recent study into PainChek’s infant technology which showed positive findings.
The company says the market opportunity facing it is very large with 400 million pre-verbal children in the world, of which 100 million are born to first time parents.
“Having established the initial PainChek adult app and the business model in aged care, this broad portfolio of offerings provides the foundation for our global market entry into the larger home care and the hospital markets, it’s a truly exciting time for the company,” said CEO Philip Daffas.
As for Advanced Human Imaging, it unveiled a partnership with US based Jana Care.
Jana Care’s tech – Aina – utilises smartphones to read blood samples on paper strips and thereby detect diseases including heart, kidney disease and diabetes.
Aina is used in over 1,500 clinics by over 10,000 health clinics with over 200,000 patients.
The companies have signed a term sheet to integrate Jana Care’s test into Advanced Human Imaging’s body scanning tech – CompleteScan – and for Advanced Human Imaging to invest $8 million into Jana.
Rajen Dalal, CEO of Jana Care, said Advanced Human Imagine’s tech would “complete the circle” for his company’s capabilities.
“COVID put to rest any lingering doubts there may have been regarding the potential value of remote monitoring with smartphone-based telemedicine and telediagnostics,” he said.
“We are only at the beginning of this digital health revolution and will see the impact of these technologies grow in the near future as they help reduce the progression of chronic disease and reduce healthcare costs.”
The ASX shares of both PainChek and Advanced Human Imaging rose over 10 per cent in early trade this morning.