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PETACH TIKVA, ISRAEL - Nanox Imaging Ltd (NASDAQ:NNOX) announced Tuesday a distribution agreement with Althea France to introduce its CE-marked Nanox.ARC imaging system across the French healthcare sector. The medical imaging technology company, currently valued at approximately $270 million, has seen its stock surge nearly 25% over the past week despite being down over 42% year-to-date, according to InvestingPro data.
Althea France, part of one of Europe’s largest independent medical technology services providers, will handle market introduction, sales and service of the multi-source digital tomosynthesis system throughout France.
The collaboration represents Nanox’s fourth European distribution agreement, following recent partnerships in Greece, Romania and the Czech Republic.
The Nanox.ARC system, which recently received CE Mark certification for commercialization across the European Union, utilizes 3D imaging technology designed to provide diagnostic capabilities at lower costs than traditional systems.
"France is a key strategic market for Nanox, and Althea’s leadership position and deep expertise in imaging technology management make them an excellent partner for our growth," said Erez Meltzer, CEO and Acting Chairman of Nanox.
Simon Diebold, Country Manager for Althea France and Belgium, said the company’s relationships with hospitals and clinics will help introduce the imaging solution to the French healthcare market.
Althea Group manages thousands of medical imaging devices across France and provides support from installation to performance optimization.
Nanox focuses on medical imaging technologies based on AI and a proprietary digital X-ray source. The company’s ecosystem includes the Nanox.ARC system, AI-based algorithms for CT imaging analysis, and cloud-based software for data management.
This article is based on a company press release.
In other recent news, Nano-X Imaging Ltd reported several significant developments. The company announced it will acquire VasoHealthcare IT Inc. for up to $800,000, comprising a $200,000 cash payment and up to $600,000 in performance-based earnouts over two years. Additionally, Nano-X Imaging’s AI-powered bone analysis solutions, HealthVCF and HealthOST, have been recommended by the UK’s National Institute for Health and Care Excellence for evaluation in NHS hospitals. The company also entered a strategic partnership with 3DR Labs to expand the reach of its FDA-cleared AI imaging solutions to over 1,800 hospitals and imaging centers in the United States. In collaboration with Olympe Imagerie, Nano-X Imaging will deploy its Nanox.ARC imaging system at Hospital Privé Jacques Cartier MASSY near Paris for clinical trials focused on lung cancer detection. Cantor Fitzgerald maintained its Overweight rating and $6.00 price target on Nano-X Imaging, following the company’s announcement of a new healthcare collaboration with Monarch Medical Management and Billing LLC. This partnership aims to deploy Nano-X’s imaging solutions across various healthcare facilities. These developments highlight Nano-X Imaging’s ongoing efforts to expand its market presence and technological impact in the healthcare industry.
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