ContextVision, a medical technology software company specializing in image analysis and artificial intelligence, continued to advance its artificial intelligence portfolio in the second quarter 2019. The company’s AI-based product Altumira™ for X-ray is now commercially available and INIFY Prostate for digital pathology will soon move to beta testing in several pathology labs.
Founded in 1983, based in Stockholm, Sweden, ContextVision is the global market leader within image enhancement and is a software partner to leading medical imaging manufacturers all over the world. Its cutting-edge technology helps doctors accurately interpret medical images, a crucial foundation for better diagnosis and treatment.
ContextVision’s digital pathology product INIFY Prostate™ continues to move forward based on rigorous research and development. The company has an agreement with one of the larger biobanks in the world. In the second quarter, the company made further progress with this partnership, defining a pilot project within the prostate cancer segment.
The company welcomed Dr. Marilyn Bui from Moffit Cancer Center in Tampa, Florida, USA to the ContextVision advisory board. Dr. Bui is president of the Digital Pathology Association (DPA) and works as a sarcoma pathologist and researcher.
Sales continued to grow in the second quarter. Sales in Asia grew nine percent compared to the same quarter last year. The company continues to grow in China and Japan in part from a mix of stock orders and an increased volume run rate from several of the company’s customers. In addition, they had an expected sales recovery in the U.S. in the second quarter after weaker sales in the first quarter. Sales were also supported by favorable currency rates in the quarter.
“We plan to sign agreements, install and start beta tests in the upcoming quarter for INIFY Prostate 1.0, the companies first product that will support pathologists in their daily work with prostate biopsies”
“We continue to make progress in line with our strategy. In the second quarter we planned for the upcoming beta tests, a key part in the product development of our first digital pathology product, we defined the first project within our partnership with the biobank, and last but not least we welcomed Dr. Bui to our advisory board,” said Palm.
“ContextVision is making great advances in artificial intelligence for medical imaging. As a result, the company is seeing record sales and breaking new ground in digital pathology.” – Fredrik Palm, CEO of ContextVision