Nanox.AI Expands Footprint Through New Global Partnership with Ferrum Health
Partnership with Ferrum Health offers unprecedented data security and an integrated AI platform to streamline health systems’ adoption of AI technology, such as Nanox’s Bone solution (HealthOST) and cardiac solution (HealthCCSng)
NEVE ILAN, Israel, March 22, 2023 (GLOBE NEWSWIRE) — NANO-X IMAGING LTD (“Nanox” or the “Company,” Nasdaq: NNOX), an innovative medical imaging technology company, today announced that that its deep-learning medical imaging analytics subsidiary, Nanox.AI, has entered into strategic partnership, with Ferrum Health, a leading player in the AI platform market. This partnership will broaden the reach of Nanox AI’s technology for medical imaging including Nanox.AI’s Bone and Cardiac solutions, 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.
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 further medical assessment to establish individual preventative care pathways for patients. Nanox.AI’s portfolio includes FDA-cleared imaging solutions in bone health, called HealthOST, and cardiovascular health, called 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. “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, 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. 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 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.
Forward-Looking Statements
This press release may contain forward-looking statements that are subject to risks and uncertainties. All statements that are not historical facts contained in this press release are forward-looking statements. Such statements include, but are not limited to, any statements relating to the initiation, timing, progress and results of the Company’s research and development, manufacturing, and commercialization activities with respect to its X-ray source technology and the Nanox.ARC, the ability to realize the expected benefits of its recent acquisitions and the projected business prospects of the Company and the acquired companies. In some cases, you can identify forward-looking statements by terminology such as “can,” “might,” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “should,” “could,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on information the Company has when those statements are made or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause actual results to differ materially from those currently anticipated include: risks related to (i) Nanox’s ability to complete development of the Nanox System; (ii) Nanox’s ability to successfully demonstrate the feasibility of its technology for commercial applications; (iii) Nanox’s expectations regarding the necessity of, timing of filing for, and receipt and maintenance of, regulatory clearances or approvals regarding its technology, the Nanox.ARC and Nanox.CLOUD from regulatory agencies worldwide and its ongoing compliance with applicable quality standards and regulatory requirements; (iv) Nanox’s ability to realize the anticipated benefits of its acquisitions, which may be affected by, among other things, competition, brand recognition, the ability of the acquired companies to grow and manage growth profitably and retain their key employees; (v) Nanox’s ability to enter into and maintain commercially reasonable arrangements with third-party manufacturers and suppliers to manufacture the Nanox.ARC; (vi) the market acceptance of the Nanox System and the proposed pay-per-scan business model; (vii) Nanox’s and its subsidiaries’ expectations regarding collaborations with third-parties and their potential benefits; and (viii) Nanox’s ability to conduct business globally; (ix) changes in global, political, economic, business, competitive, market and regulatory forces; and (x) risks related to business interruptions resulting from the COVID-19 pandemic or similar public health crises, among other things.
For a discussion of other risks and uncertainties, and other important factors, any of which could cause Nanox’s actual results to differ from those contained in the Forward-Looking Statements, see the section titled “Risk Factors” in Nanox’s Annual Report on Form 20-F for the year ended December 31, 2021, and subsequent filings with the U.S. Securities and Exchange Commission. The reader should not place undue reliance on any forward-looking statements included in this press release.
Except as required by law, Nanox undertakes no obligation to update publicly any forward-looking statements after the date of this report to conform these statements to actual results or to changes in the Company’s expectations.
Contacts
Nanox Media Contact:
Rachael Roselli
ICR Westwicke
NanoxPR@icrinc.com
Investor Contact:
Mike Cavanaugh
ICR Westwicke
mike.cavanaugh@westwicke.com
