Intelligent Ultrasound installs 1,000th simulation system
(IUG ) has installed its 1,000th ultrasound simulation system marking a significant milestone in the Company’s development.
The ultrasound Artificial Intelligence (“AI”) software and simulation company’s ultrasound simulation system is both a BodyWorks Eve PoCUS and Covid-19 training simulator.
[Source: Company]
Bodyworks™ Eve is IUG’s female patient simulator designed for interactive Point of Care Ultrasound (“PoCUS”) scenario training as well as Covid-19 training for frontline clinicians.
The BodyWorks Eve simulator is designed to ‘meet the training needs of healthcare professionals who wish to practise PoCUS in Emergency Medicine and Critical Care.’
BodyWorks Eve provides access to real patient-based training where doctors can work through cases independently and at their own pace.
Over 100 patient cases using real patient scans will develop diagnostic skills and recognition of common abnormalities in emergency medicine to guide evaluation and decision making for patient referral or discharge.
BodyWorks Eve provides access to real patient-based training where doctors can work through cases independently and at their own pace.
Over 100 patient cases using real patient scans will develop diagnostic skills and recognition of common abnormalities in emergency medicine to guide evaluation and decision making for patient referral or discharge
Last year, the Company launched a COVID-19 training module for Bodyworks™ Eve, to help train clinicians to rapidly acquire and practice lung ultrasound skills. This module included a number of examples of lung ultrasound appearances typical of a COVID-19 infection.
IUG said lung ultrasound has ‘major utility’ for the management of respiratory related COVID-19 infection ‘due to its safety, repeatability, absence of radiation, low cost and point of care use. It is also relatively easy to disinfect compared to alternative imaging modalities.’
The installation at the Clinical Skills Education and Assessment Center of the Ohio State University College of Medicine (“OSUCM”), will allow Intelligent to expand its education reach ‘beyond echocardiography and into point of care ultrasound and reduce its reliance on live models.’
OSUCM already utilises the Company’s HeartWorks™ simulation system which provides realistic simulation for teaching cardiac anatomy, echocardiography and lung ultrasound.
The addition of the Bodyworks™ Eve simulator to the existing HeartWorks™ simulation system will ‘allow the medical school to expand their existing ultrasound training for medical students to include full chest, abdominal, pelvic, and early OB (obstetric) critical care.’
"We are delighted to reach this significant sales milestone. North America is a key market for our range of ultrasound training simulators and the Ohio State University College of Medicine is acknowledged as one of the top teaching institutions in the US,” said COO of Intelligent Ultrasound, Ian Whittaker.
Shares in Intelligent Ultrasound have recovered from lows of 10p at the height of the COVID crisis to trade within a tight range between 14p and 16p over the past three months.
Although the Covid-19 pandemic has impacted both the signing of a second OEM agreement and the regulatory approval process for the Group’s ScanNav Anatomy PNB, it still expects first product launch and initial revenues for its second clinical AI product to be in 2H21.
CEO, Stuart Gall recently told investors that the Simulation Division is working to minimise the negative impact of Covid-19 on 2020 sales revenue and that he is confident that, on-going global pandemic restrictions permitting, the Company will return to revenue growth in 2021.
Reasons to Follow IUG
Intelligent Ultrasound develops AI-based clinical image analysis software tools for the diagnostic medical ultrasound market and hi-fidelity VR simulators for the ultrasound training and education markets.
Recent Positive News
In a recent trading update for the 12 months to December 2020, IUG said it has enough operational flexibility to weather the COIVID storm, whilst investing for future growth.
Sales from its direct UK and US sales team are expected to have grown by over 15% to £3.8m (FY19: £3.3m), helped by strong sales from the Group's ScanTrainer and BodyWorks simulators, which incorporate the group’s ‘free of charge’ Covid-19 lung training module.
However, sales in Europe and Asia, that are made through IUG’s reseller network, were impacted by Covid-19 restrictions and are expected to have declined to £1.4m (FY19: £2.6m).
Global Partnership with GE
The Group announced in 2020 that it had been working closely with GE to commercialise its AI technology. GE launched the “Voluson SWIFT” ultrasound machine in October 2020, that incorporates IUG’s ScanNav Assist AI technology in its SonoLyst software. GE now has both CE approval for sale in Europe and 510(k) clearance from the FDA for sale in the USA.
GE’s SonoLyst is the first AI software to be launched under IUG’s long-term licence and co-development agreement with GE. It is also the world's first fully integrated AI tool that recognises the 20 views recommended by the International Society of Ultrasound in Obstetrics and Gynaecology mid-trimester practice guidelines for fetal imaging. The Voluson SWIFT is the first of the three product types in GE’s Voluson range to offer SonoLyst.
The GE Voluson SWIFT, when deployed in private healthcare settings, increases the speed of ultrasound procedures whilst ensuring correct quality levels are consistently achieved.
This has the potential to increase revenue for the operator and therefore provide GE Healthcare with a more compelling sales proposition than that of its competitors.
Prof Aris Papageorghiou, Professor of Fetal Medicine, St George's Healthcare NHS Trust, London called the technology a “big advance for ultrasound imaging in women’s health.”
He added, “I have worked in the field of AI in ultrasound for over ten years, yet I am still amazed at the level of accuracy that has been achieved. You can really see how Intelligent Ultrasound's AI technology, incorporated in the SonoLyst software, will improve efficiency, make the learning of ultrasound easier and reduce omissions and errors.”
Commenting on the trading update, Stuart Gall, CEO of Intelligent Ultrasound Group said the group had seen “a very positive year” despite the impact of Covid-19, commenting:
“The Clinical AI Division has continued to perform well, with GE Healthcare's Voluson SWIFT ultrasound machine, that incorporates Intelligent Ultrasound's ScanNav Assist AI technology in its SonoLyst software, receiving CE approval for sale in Europe and 510(k) clearance from the FDA for sale in the USA.”
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