Intelligent Ultrasound Group PLC AGM Statement (9160Z)

TIDMMED

RNS Number : 9160Z

Intelligent Ultrasound Group PLC

23 May 2019

Intelligent Ultrasound Group plc

("Intelligent Ultrasound" or the "Group" or the "Company")

2019 AGM Trading Statement

Intelligent Ultrasound Group plc (AIM: MED), the artificial intelligence software and simulation company, will hold its Annual General Meeting today at 1.30 p.m. at IP Group Offices, The Walbrook Building, 25 Walbrook, London, EC4N 8AF. At the meeting the Chairman, Riccardo Pigliucci, will make the following statement:

"The development of our two real-time image analysis software solutions - ScanNav and AnatomyGuide - from our Clinical AI Division is progressing well and we believe that they are gaining recognition by both prospective end-user clinicians and potential industry partners. We are in negotiations to secure our first strategic collaboration agreement with a major ultrasound equipment manufacturer and look forward to updating the market on this in due course. To maintain our lead we will need to continue to invest in our AI based ultrasound image analysis R&D.

Our Simulation Division sales for the four months to 30 April 2019 are in line with the same period last year, with significant increases in North America offset by reduced sales in the UK, which we believe are due to the impact that Brexit is having on UK healthcare budgets and spending. With five weeks of the half-year remaining, we are encouraged by a healthy pipeline of potential orders which includes a number of high value opportunities that we expect to realise in Q2. Consequently, we continue to trade within expectations for the full year."

Enquiries:

 
Intelligent Ultrasound Group                                                     www. intelligentultrasound.com 
 plc 
Stuart Gall, CEO                                                                       Tel: [phone] 
 Wilson Jennings, CFO 
 
Cenkos Securities - Nominated Advisor                                                  Tel: [phone] 
 and broker 
Giles Balleny / Cameron MacRitchie 
 (Corporate Finance) 
Michael Johnson / Julian Morse 
 (Sales) 
 
Walbrook PR                                    Tel: [phone] or [e-mail] 
Anna Dunphy / Paul McManus                                                  Mob: [phone] / Mob: +44 
                                                                                                (0)7980 541 893 
 
 

About Intelligent Ultrasound (www.investors.intelligentultrasound.com)

Intelligent Ultrasound (AIM: MED), the intelligent ultrasound software and simulation company, develops artificial intelligence-based clinical image analysis software tools, augmented reality-based needle guidance software and advanced hi-fidelity haptic and manikin-based training simulators for medical practitioners.

Based in Cardiff and Oxford in the UK, Atlanta in the US and with representation in Beijing in Asia, the Group operates two divisions:

Intelligent Ultrasound Simulation Division

Focusses on hi-fidelity ultrasound education and training through simulation. Its three main products are the ScanTrainer OBGYN training simulator, the HeartWorks echocardiography training simulator and the BodyWorks Eve Point of Care and Emergency Medicine training simulator. To date over 700 simulators have been sold to over 400 medical institutions in over 30 countries around the world.

Intelligent Ultrasound Clinical Division

Focusses on augmented reality and deep-learning based algorithms to make ultrasound machines smarter and more accessible. Products in development include ScanNav which uses machine-learning based algorithms to automatically identify and grade ultrasound images to provide scan assessment and audit of obstetric scanning. AnatomyGuide aims to simplify ultrasound-guided needling by providing the user with real-time AI-based needle guidance software for a range of medical procedures.

Some products in the pipeline may require US FDA or other regulatory approval, as such this material should be considered informational only and does not constitute an offer to sell, or infer claims or benefits.

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May 23, 2019 02:00 ET (06:00 GMT)