JENA - ZEISS Medical Technology receives CE mark for AI-powered OCT tool

JENA, Germany - ZEISS Medical Technology, a $4.3 billion market cap medical technology company with annual revenues of $2.57 billion, announced on Thursday it has received CE mark approval for its CIRRUS PathFinder, an artificial intelligence tool designed to automatically identify abnormal macular OCT B-scans. According to InvestingPro data, the company has maintained steady growth with a 5.49% revenue increase over the last twelve months.

The new technology is fully integrated into the CIRRUS software platform and uses proprietary deep learning algorithms to flag areas that may require additional review during optical coherence tomography (OCT) examinations. This innovation comes as ZEISS maintains a FAIR financial health score, according to InvestingPro’s comprehensive analysis, with particularly strong profitability metrics.

According to the company’s press release statement, the AI-powered tool aims to support clinicians in making more confident decisions and accelerate workflow efficiency without requiring data export to third-party platforms.

The software update, available in select markets, includes several additional features such as AI-enhanced OCT angiography (OCTA) image quality, multi-layer segmentation, and expanded reference database that is triple the size of the previous version.

"Without requiring export and data analysis from third-party platforms, CIRRUS PathFinder’s fully integrated AI decision support algorithm interprets data within the clinician’s current workflow, allowing for the assessment of many hundreds of scans at once, in real time," said Anuj Kalra, Head of Chronic Disease Management at ZEISS Medical Technology.

The company stated the new software also includes enhanced cybersecurity features designed to meet evolving compliance and security needs.

CIRRUS PathFinder is compatible with all current ZEISS CIRRUS devices, including models 500, 5000, and 6000, though certain features are specific to particular models. Based on InvestingPro’s Fair Value analysis, ZEISS currently appears undervalued, suggesting potential upside for investors interested in the medical technology sector. Unlock detailed valuation metrics and 12 additional ProTips with an InvestingPro subscription.

In other recent news, Corpay, Inc. has announced an agreement to acquire Alpha Group International plc in a cash transaction valued at approximately $2.2 billion. This acquisition will expand Corpay’s capabilities in providing cross-border foreign exchange solutions. Alpha Group currently manages around $3 billion in deposits across over 7,000 client accounts, primarily in the UK and Europe. The acquisition reflects Corpay’s strategic move to enhance its offerings in the financial services sector. This development is part of Corpay’s ongoing efforts to grow its market presence. The transaction is expected to bolster Corpay’s service portfolio, particularly in the area of alternative banking solutions for investment managers. The acquisition is subject to customary closing conditions and regulatory approvals. This move is seen as a significant step for Corpay in strengthening its position in the global financial market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.