DIAGNOS Receives Health Canada -Class 2- Medical Device License for its Computer
posted on Dec 10, 2009 06:04PM
DIAGNOS inc., knowledge extraction technologies
Congratulations to DIAGNOS and shareholders. Great news, much more to come!
BROSSARD, QUEBEC -- (Marketwire) -- 12/09/09 -- DIAGNOS inc. ("DIAGNOS" or "the Corporation") (TSX VENTURE: ADK), a leader in the use of artificial intelligence and advanced knowledge extraction techniques, announces today that it has received Health Canada - Class 2 - Medical Device License for its CARA-CCE (Computer Assisted Retinal Analysis), dated December 8th, 2009.
"We are very pleased with this significant milestone. Health Canada approval enables us to begin to market and sell our product to support diabetic retinopathy screening. Diabetes has been identified as a global epidemic by the World Health Organization with the number of patients skyrocketing from 30 million worldwide in 1985 to 171 million in 2000, and is estimated to reach 366 million by 2030. The rising rates of diabetes are estimated to cost the Canadian economy as much as $17 billion by the year 2020, $192 billion in the US by 2020, and according to the International Diabetes Federation, $490 billion globally by 2030" said Peter Nowacki, General Manager - Medical of DIAGNOS.
"Because diabetics require regular screening for eye disease (retinopathy), we estimate the global value of the retinopathy screening market at $600 million annually. We have established a global sales network and feel confident in our ability to begin to generate revenues with CARA" said Andre Larente, President of DIAGNOS.
CARA performs a proprietary enhancement of retinal images and can automatically highlight areas of possible pathology to the user. CARA's image enhancement algorithms make standard retinal images sharper, clearer, and easier to read. It is an automated platform accessible securely over the internet, and is compatible with all recognized image formats and brands of fundus cameras.
Founded in 1998, DIAGNOS is a publicly traded Canadian corporation (TSX: ADK), with a mission to commercialize technologies combining contextual imaging and traditional data mining thereby improving decision making processes. DIAGNOS offers products, services, and solutions to clients in a variety of fields including natural resources, healthcare, and entertainment.
This press release contains forward-looking statements, which reflect the companies' current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the companies' ongoing quarterly filings, annual reports and other filings for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The companies disclaim any obligation to update these forward-looking statements.
For further information, please visit our website at www.diagnos.com or the SEDAR website at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
Andre Larente - President
Investor relations representative
1-877-678-8882 or 450-678-8882, ext. 224
Source: Marketwire (December 9, 2009 - 2:37 PM EST)
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