Nanox Signs MSaaS Agreement for the Deployment of 350 Nanox Systems in South America

Rhea-AI Summary

NANO-X IMAGING LTD (NNOX) has partnered with International Clinics Group to enhance medical imaging accessibility in Chile, Bolivia, and Peru. This collaboration aims to deploy the Nanox System, which includes the Nanox.ARC imaging device and Nanox.CLOUD services, across various healthcare facilities, subject to regulatory approval. The initiative addresses the shortage of medical imaging in rural areas, where access is limited. The World Health Organization indicates that two-thirds of the global population lacks adequate imaging services, emphasizing the need for such advancements.

Positive

• Partnership with International Clinics Group to enhance medical imaging access in South America.
• Deployment of the Nanox System expected to improve healthcare outcomes in rural communities.
• Innovative technology designed to reduce costs and improve medical imaging service availability.
• Collaboration aligns with WHO's goals to improve global access to medical imaging.

Negative

• None.

Nanox continues to expand its global footprint and advance its vision to democratize healthcare through a partnership with International Clinics Group

NEVE ILAN, Israel & SANTIAGO, Chile--(BUSINESS WIRE)-- NANO-X IMAGING LTD ("Nanox" or the "Company," Nasdaq: NNOX), an innovative medical imaging company, entered into an agreement with International Clinics Group, a medical equipment distributor which serves public & private hospitals, health systems, military hospitals, and medical centers in Chile, Bolivia and Peru.

Subject to regulatory approval Nanox and International Clinics Group will deploy the Nanox System and auxiliary cloud services in both private and public healthcare facilities, to improve the availability of medical imaging for the overall population of Chile, Bolivia and Peru.

The Nanox System is composed of the Nanox.ARC, an innovative medical imaging system with a smaller footprint and lower cost than legacy x-ray technology, and the Nanox.CLOUD, a companion cloud-based software designed to complement the Nanox.ARC and provide end-to-end medical imaging services. The Nanox.CLOUD is expected to include image analysis and repository, radiologist matching, online and offline diagnostics review, annotation, billing, and reporting.

The Nanox System is also designed to support advanced AI-based diagnostic and decision support systems that are expected to provide radiology services to remote populations and alleviate the acute lack of radiologists worldwide.

According to the World Health Organization (WHO), approximately two-thirds of the world's population does not have access to medical imaging systems, with many facing substantial wait times for scanning. For example, Chile has approximately 24 scanning machines per one million people. Yet, most devices are located in the three major cities in Chile, while the rural population has almost no access to scanning machines.

"We are very excited to sign the agreement with NANO-X Imaging Ltd. to deploy medical imaging systems across Chile," says Francisco J. Acevedo, CEO of International Clinics Group. “Although Chile, Bolivia and Peru have relatively high adoption rate of CT’s per million people, the vast majority of these machines are located in the largest cities and serve mostly the privately insured individuals, while people who reside in rural communities suffer from lack of scanning services. With this partnership we aim to enable all people from all around Chile, Bolivia and Peru to access medical imaging without having to travel for hours to the nearest hospital.”

"We are very pleased to deepen our presence in South America," says Ran Poliakine, Chairman and Chief Executive Officer of Nanox. "Medical imaging systems are an important diagnostic tool that we believe are key to increasing early-detection and better patient outcomes around the world. International Clinics Group shares our vision to bring medical scanning to all communities in Chile with the highest medical and technological standard."

About Nanox:

Nanox, founded by the serial entrepreneur Ran Poliakine, is an Israeli corporation that is developing a commercial-grade digital X-ray source designed to be used in real-world medical imaging applications. Nanox believes that its novel technology could significantly reduce the costs of medical imaging systems and plans to seek collaborations with world-leading healthcare organizations and companies to provide affordable, early detection imaging service for all. For more information, please visit www.nanox.vision.

About International Clinics Group:

International Clinics Group, holds 39 years of experience in healthcare business. Headquartered in Santiago, Chile and also have local offices in Bolivia and Peru.
Serving Public & Private Hospitals in South America .

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 Nanox's research and development, manufacturing and commercialization activities with respect to its X-ray source technology and the Nanox.ARC. 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 Nanox 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 Nanox's ability to complete development of the Nanox.ARC; Nanox's ability to successfully demonstrate the feasibility of its technology for commercial applications; Nanox's expectations regarding the necessity of, timing of filing for, and receipt and maintenance of, regulatory clearances or approvals regarding its X-ray source technology and the Nanox.ARC from regulatory agencies worldwide and its ongoing compliance with applicable quality standards and regulatory requirements; Nanox's ability to enter into and maintain commercially reasonable arrangements with third-party manufacturers and suppliers to manufacture the Nanox.ARC; the market acceptance of the Nanox.ARC and the proposed pay-per-scan business model; Nanox's expectations regarding collaborations with third-parties and their potential benefits; Nanox's ability to conduct business globally; and risks and business interruptions related to the COVID-19 pandemic, among others. 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, 2020 and subsequent filings with the U.S. Securities and Exchange Commission. Except as required by law, Nanox undertakes no obligation to update publicly any forward-looking statements after the date of this press release to conform these statements to actual results or to changes in Nanox's expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211029005247/en/

Investors

Mike Cavanaugh

ICR Westwicke

Mike.cavanaugh@westwicke.com

Source: NANO-X IMAGING LTD

FAQ

What is the recent partnership involving NNOX?

NNOX has partnered with International Clinics Group to deploy the Nanox System in Chile, Bolivia, and Peru.

How will the Nanox System improve medical imaging?

The Nanox System will provide enhanced medical imaging services to rural populations that currently lack access.

What is the significance of the Nanox.CLOUD service?

The Nanox.CLOUD will complement the imaging system by offering cloud-based services like diagnostics review and image analysis.

When is the deployment of the Nanox System expected?

Deployment is subject to regulatory approval, and specific timelines have not been disclosed.

How does the Nanox partnership align with WHO's goals?

The partnership aims to address the global shortage of medical imaging access highlighted by WHO.