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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, a pioneering medical device company, unveiled an advanced software upgrade for its Swoop® portable MRI system at HA Connect! on July 14, 2022. This enhancement allows brain scans for young hydrocephalus patients in under three minutes without ionizing radiation, addressing health risks associated with CT scans. With over 40,000 hospital admissions yearly due to hydrocephalus, this software aims to improve diagnostic efficiency and patient safety. The FDA recently cleared this update, demonstrating Hyperfine's commitment to innovative healthcare solutions.
Hyperfine, Inc. (Nasdaq: HYPR) announces a leadership transition as Dave Scott steps down as President and CEO, effective July 29, 2022, due to personal reasons. Scott Huennekens, current Executive Chairperson, will serve as interim President and CEO while a search for a long-term leader is conducted. Hyperfine reaffirms its 2022 financial guidance, projecting revenues between $10 to $12 million and installation of 50 to 60 commercial units. The company emphasizes the ongoing expansion of its portable MRI system, Swoop, and its commitment to enhancing global access to medical imaging.
Hyperfine, Inc. (Nasdaq: HYPR) announced that its Swoop® Portable MR Imaging System™ has received registration in Australia and New Zealand. This makes the device, which is the first FDA-cleared portable MRI, available for purchase in these regions. Quantum HealthCare will distribute the Swoop system, enhancing Hyperfine's market entry. The system, already utilized at Alfred Health for point-of-care brain scans, improves patient outcomes by reducing transport needs. The device can operate on standard power and requires no special room setups, making it ideal for remote areas.
Hyperfine (Nasdaq: HYPR) announced that management will present at the 2022 Jefferies Global Healthcare Conference on June 8 at 4:00 PM EDT. The event will feature Dave Scott, President and CEO, and Alok Gupta, CFO.
Interested parties can access a live and archived webcast through the company’s website in the “Investors” section. Hyperfine is known for creating Swoop, the world’s first FDA-cleared portable MRI system, which enhances patient access to rapid diagnoses in various clinical settings.
Hyperfine, Inc. (Nasdaq: HYPR) reported Q1 2022 revenues of $1.509 million, a significant increase from $0.331 million in Q1 2021. The net loss was $23.775 million, or $0.34 per share, compared to a net loss of $7.794 million in the same quarter last year. The company installed 11 commercial systems in Q1 2022, raising the total installed base to 38 commercial systems and 85 total systems. Management projects annual revenues between $10 million and $12 million and expects 50 to 60 units installed by year-end.
Tesseract Health has appointed Michael McConnell, MD, MSEE, as Head of Cardiovascular and Digital Health, strengthening its leadership under CEO Vicky Demas. Dr. McConnell brings expertise from Google Health and aims to guide the development of cardiovascular health products using Tesseract's non-invasive technology. The company is focused on democratizing health screening and aims to innovate ocular health diagnostics. Tesseract is part of 4Catalyzer, which includes companies like Butterfly Network (NYSE: BFLY), Quantum-Si (NASDAQ: QSI), and Hyperfine (NASDAQ: HYPR).
Hyperfine, Inc. (Nasdaq: HYPR) has announced it will release its first quarter 2022 financial results on May 11, 2022. The company, known for creating the world's first FDA-cleared portable MRI system, Swoop®, will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss these results. Interested investors can listen by calling specified numbers or via a live webcast on Hyperfine's investor page. The Swoop system aims to enhance patient access to medical imaging, enabling rapid diagnoses in various clinical settings.
Hyperfine (Nasdaq: HYPR) reported its fourth quarter and full year 2021 results, highlighting significant achievements and continued expansion. For Q4, revenue rose to $0.436 million from $0.207 million in Q4 2020, while the annual revenue reached $1.496 million compared to $0.294 million. However, the net loss for Q4 was $26.085 million, or $2.73 per share, compared to a net loss of $6.862 million in the prior year. The company projects 2022 revenues between $10 to $12 million and expects to install 50 to 60 commercial units.
Hyperfine, Inc. (Nasdaq: HYPR) will announce its financial results for Q4 and full-year 2021 on March 23, 2022, followed by a conference call at 1:30 p.m. PT / 4:30 p.m. ET. The company developed Swoop®, the first FDA-cleared portable MRI system, aimed at enhancing patient access to diagnostic imaging. Swoop's affordability and ease of use allow rapid diagnoses in various clinical settings, offering high-quality imaging at lower magnetic field strengths.
Hyperfine, creator of the first FDA-cleared portable MRI system, Swoop, announced participation in the 42nd Annual Cowen Healthcare Conference on March 9, 2022, at 2:10 PM ET. The presentation will be accessible via a live and archived webcast on their website's Investors section. Swoop enables rapid diagnosis and treatment at point-of-care settings, producing high-quality images with lower magnetic field strength, offering significant benefits in emergency and critical care environments.
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