Nanox Imaging partners with AhealthZ for South Korea expansion

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Nanox Imaging partners with AhealthZ for South Korea expansion

PETAH TIKVA, Israel - Nano-X Imaging Ltd. (NASDAQ:NNOX), known as Nanox, has announced a strategic collaboration with AhealthZ and its affiliated company SCL Science to advance the distribution and integration of Nanox's medical imaging technology in South Korea.

The partnership aims to secure necessary authorizations and licenses for the Nanox.ARC, a digital tomosynthesis system, and to incorporate Nanox's AI solutions into SCL Science's operations.

AhealthZ, a distributor of healthcare services and devices, will assist Nanox in navigating the regulatory landscape to facilitate the importation, marketing, and sales of Nanox.ARC systems in South Korea. The Nanox.ARC is noted for its smaller footprint and cost-effectiveness compared to similar X-ray tomosynthesis devices, which may offer a scalable imaging solution for healthcare providers.

Additionally, the collaboration will see SCL Science, a subsidiary of the global healthcare group SCL, integrating Nanox's AI solutions into their teleradiology centers. These AI solutions, including HealthCCSng for cardiac analysis, HealthOST for bone health, and HealthFLD for fatty liver assessment, aim to help in early diagnosis and management of chronic diseases.

Nanox also plans to potentially integrate its Nanox.MARKETPLACE, a teleradiology services platform, with SCL Science's centers in South Korea and other international markets. This platform provides remote access to radiology and cardiology experts, potentially enhancing SCL's digital health research and professional medical services.

Erez Meltzer, Nanox's Chief Executive Officer, expressed enthusiasm about the partnership, highlighting the significance of South Korea's technologically advanced market and the mutual benefits of this collaboration for both Nanox and SCL.

Nanox, focused on making diagnostic medicine more accessible and affordable worldwide, offers a suite of products and services including the Nanox.ARC, Nanox.AI, Nanox.CLOUD, and Nanox.MARKETPLACE. These are part of a comprehensive solution connecting medical imaging from scanning to diagnosis.

This press release contains forward-looking statements subject to risks and uncertainties, and actual results could differ materially. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. This article is based on a press release statement.

InvestingPro Insights

In light of the recent strategic collaboration between Nano-X Imaging Ltd. (NNOX) and South Korean entities AhealthZ and SCL Science, investors are closely monitoring the company's financial health and market performance. Notably, Nanox has been showing signs of potential growth in the market, with an impressive 74.12% total return over the last three months and a 86.72% return over the past year. These figures underscore the company's strong recent performance and may be indicative of investor confidence in the firm's strategic initiatives and technology offerings.

From a financial standpoint, Nanox holds a market capitalization of 625.74M USD, which reflects the market's valuation of the company. Despite facing challenges such as weak gross profit margins, as evidenced by a -66.55% gross profit margin for the last twelve months as of Q4 2023, the company's cash position is stronger than its debt, suggesting a level of financial stability.

Looking ahead, analysts are optimistic about Nanox's growth prospects, predicting an increase in net income and sales growth in the current year. This optimism is further supported by the fact that the company's liquid assets exceed its short-term obligations, providing a cushion for operational flexibility. For investors seeking more in-depth analysis and additional metrics, there are 13 more InvestingPro Tips available for NNOX at InvestingPro. By using the coupon code PRONEWS24, readers can obtain an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial data and expert insights to inform their investment decisions.

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

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