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Hyperfine, Inc. (Nasdaq: HYPR) is committed to revolutionizing the field of medical imaging with its pioneering Swoop® Portable MR Imaging System™. By making MRI accessible to every patient, regardless of income or location, Hyperfine is bridging the gap in medical imaging. The Swoop system addresses the limitations of conventional MRI scanners by providing portable, bedside imaging capabilities. This breakthrough technology plugs into a standard electrical outlet and is controlled using an Apple iPad®, displaying images within minutes. This efficiency aids critical decision-making in diverse clinical settings such as neurointensive care units, emergency departments, and pediatric wards.
Designed to complement traditional MRI systems, the Swoop Portable MR Imaging System can be operated by new users with just 30 minutes of training, streamlining workflows and enhancing patient care. The system is cost-effective, with the complete Swoop package costing less than the annual service contract of most fixed MRI systems.
Since receiving FDA clearance in August 2020 for brain and head imaging, Hyperfine has achieved significant milestones. The company has expanded its market reach, gaining approvals in several countries including Canada, Australia, the United Kingdom, and the European Union. Hyperfine’s recent achievements include the successful enrollment in the CARE PMR study for Alzheimer’s and the introduction of its 8th generation AI-powered software.
In the first quarter of 2024, Hyperfine reported strong commercial progress and financial results, demonstrating their ability to meet critical milestones while maintaining spending discipline. The company remains focused on its core values of commercialization, clinical evidence, and innovation. Under the leadership of CEO Maria Sainz, Hyperfine continues to push the boundaries of medical imaging technology, aiming to provide accessible and clinically relevant diagnostic imaging solutions globally.
For more information, visit Hyperfine's Investor Relations.
Hyperfine, Inc. (Nasdaq: HYPR) announced the appointment of Brett Hale as Chief Administrative Officer and Chief Financial Officer, effective February 13, 2023. Hale brings over 25 years of experience in finance, predominantly in the medical technology sector, having held CFO positions at various companies, including Bigfoot Biomedical. He succeeds Alok Gupta, who will transition out by March 31, 2023. The transition is expected to enhance Hyperfine's operational efficiencies and expand the adoption of its portable MRI system, Swoop. In connection with his hiring, Hale was granted inducement stock options to purchase 1 million shares, vesting over four years.
Hyperfine, creator of the Swoop® Point-of-Care MRI System™, recently announced the acceptance of twelve abstracts for presentation at the ISMRM and ISMRT annual meeting in Toronto from June 3–8, 2023. The research, conducted by teams from prestigious institutions like UPenn and NYU, includes advanced topics in MRI technology. The Swoop® system aims to enhance patient outcomes by providing portable, ultra-low-field brain imaging at the bedside. The ongoing research supports Hyperfine's mission to revolutionize patient care through accessible MRI technology.
Hyperfine (Nasdaq: HYPR), a leader in medical technology, announced its participation in the 5th Annual Evercore ISI HealthCONx Conference scheduled for November 30, 2022, at 9:15 AM Eastern Time. The company will present their groundbreaking Swoop®, the world’s first FDA-cleared portable MRI system, which enhances patient access to MRI diagnostics.
Interested individuals can view the live and archived webcast via the Investors section of their website.
Hyperfine, Inc. (Nasdaq: HYPR) reported Q3 2022 revenues of $2.348 million, up from $0.371 million year-over-year. The net loss improved to $13.171 million, or $0.19 per share, compared to a loss of $16.392 million, or $8.66 per share in Q3 2021. The company installed 10 Swoop systems in the quarter, totaling 30 installations for the year. Management expects full-year revenue between $7 million and $8 million and anticipates 35 to 45 commercial units installed in 2022, reflecting ongoing growth despite net losses.
Hyperfine, Inc. (Nasdaq: HYPR) announced it will release its third-quarter 2022 financial results on November 10, 2022. Following the release, management will conduct a conference call at 1:30 PM PT / 4:30 PM ET. Interested participants can register online to listen. Hyperfine is known for its innovative Swoop® system, the first portable MRI device cleared by the FDA, which allows for quick diagnostics and treatments in various healthcare settings, improving patient access to essential imaging services.
Hyperfine, Inc. (Nasdaq: HYPR) announced Maria Sainz as its new President and CEO, effective October 24, 2022. Sainz, with over 30 years of experience in the medical device sector, has previously led multiple companies and has been a board member since Hyperfine's Nasdaq listing. She aims to expand the adoption of Hyperfine's portable MRI system, Swoop, which is already installed in over 90 locations globally. The company seeks to enhance medical imaging access worldwide while maintaining a disciplined spending approach to drive growth.
Hyperfine (Nasdaq: HYPR) announced management's participation in two upcoming conferences. Scott Huennekens and Alok Gupta will present at the Gilmartin Group Emerging Growth Company Showcase on August 31, 2022, at 1:00 PM EDT. A live webcast will be available. Gupta and Khan Siddiqui will present at the 2022 Wells Fargo Healthcare Conference on September 8, 2022, at 9:10 AM EDT, with a live and archived version accessible online. Hyperfine is known for Swoop, the first FDA-cleared portable MRI system, enhancing patient access to diagnostic imaging.
Hyperfine, Inc. (Nasdaq: HYPR) reported Q2 2022 revenues of $1.533 million, up from $0.358 million in Q2 2021, reflecting strong adoption of its portable MRI system, Swoop. However, the company faced a net loss of $23.159 million, compared to a loss of $14.580 million in the same period last year. Hyperfine installed 9 new systems, bringing total installations to 47. The company anticipates 2022 revenues of $7 million to $8 million and plans to install 35 to 45 commercial units. Positive developments include FDA clearances for system enhancements and a partnership with Viz.ai for improved patient care.
Viz.ai has partnered with Hyperfine, Inc. (NASDAQ: HYPR) to enhance healthcare delivery by integrating AI-powered disease detection with Hyperfine's portable MRI system, Swoop. This collaboration aims to expedite neuroimaging, allowing clinicians to access MRI diagnostics at the patient's bedside, significantly reducing wait times and improving decision-making in time-critical situations. The partnership is expected to enhance patient outcomes and streamline clinical workflows, particularly in neuro ICUs, emphasizing the importance of timely medical intervention.
Hyperfine, Inc. (Nasdaq: HYPR) will announce its financial results for Q2 2022 on August 10, 2022, at a webcast starting at 1:30 p.m. PT / 4:30 p.m. ET. The company is known for Swoop®, the first FDA-cleared portable MRI system, aimed at enhancing patient access to critical imaging. Designed for versatility, Swoop provides rapid diagnostics in various settings, with high-quality images at lower costs.
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