OAKLAND, Calif., Jan. 09, 2023 (GLOBE NEWSWIRE) -- Promaxo, Inc. (“Promaxo” or the “Company”), a medical imaging, robotics, and AI technology company, today announced the sale of eight systems in the United States in the fourth quarter ending December 31, 2022. System sales were made through the Company’s various sales programs to physician practices, ambulatory surgery centers (ASC), and integrated delivery network (IDN) facilities. Promaxo’s single-sided MRI with AI based imaging system, FDA cleared for in-office use, empowers practices and hospitals to accurately and seamlessly guide prostate interventions under the Promaxo MRI system.
In the fourth quarter, in addition to entering into commercial agreements with three more urology groups in the state of Florida, Promaxo expanded its commercial footprint in Ohio, New York City and South Carolina. The commercial partnerships include agreements with two practices from GenesisCare (https://www.genesiscare.com/), and a sale to Cleveland Urology Associates.
Following its commercial launch in the fourth quarter of 2021, Promaxo has achieved approximately $15 million in sales to date.
Dr. Neal Shore, Chief Medical Officer, Urology/Surgical Oncology, for GenesisCare, U.S. said, “At GenesisCare, we provide our clinicians and patients with the most innovative techniques for accurately diagnosing and managing prostate cancer therapies. We are very pleased to incorporate the Promaxo system within GenesisCare, U.S., and work with Promaxo in order to further educate U.S. healthcare providers regarding their novel clinic-based MRI capabilities.”
Dr. Kalish Kedia, Urologist at Cleveland Urology Associates & Infinity Surgery Center said, “In our commitment to providing high-quality urological care that is comprehensive, compassionate, individualized, coordinated, innovative to all our patients we are excited to include Promaxo MRI. This novel and disruptive technology will support our goals in in clinical research, to further improve urological care.”
“We are delighted with our sales performance in the fourth quarter, adding eight new partners to Promaxo’s growing clinical network in the United States,” said Dr. Amit Vohra, Founder and CEO of Promaxo. “In just over a year since our commercial launch, we have gained strong momentum and traction across our target markets. We are making good progress and remain focused on realizing our full potential in this large and exciting market.”
About GenesisCare
GenesisCare is a global care leader with more than 6,000 highly trained healthcare professionals employed at more than 300 locations across four countries. GenesisCare is one of largest providers of cancer care in USA, Australia, Spain, and the UK. In the US, GenesisCare operates radiation oncology treatment centers and integrated medical offices, including 120 radiation oncology centers. Additionally, GenesisCare operates a further 40 centers in Australia, 17 in Spain, and 14 in the UK.
About Cleveland Urology Associates
Cleveland Urology Associates, founded in 1984, is a medical group practice that provides comprehensive urological care to the areas surrounding Northeast Ohio. The team at Cleveland Urology specializes in a wide range of urological conditions, from erectile dysfunction and male incontinence to treatments for prostate cancer. With decades of experience practicing urology in Cleveland, the practice brings together the highest standard of medical expertise with a commitment to incorporating technological advances for diagnosing and treating urological concerns for their patients.
About Promaxo, Inc.
Promaxo was founded by a team of entrepreneurs and healthcare innovators to develop a minimally-invasive and patient-centric MRI and robotic platform. Based in Oakland, California, and backed by over 200 patents, the Company’s mission is to improve lives through state-of-the-art medical imaging, robotics and AI capabilities. With a compact and adaptable MRI, Promaxo is redefining the standard of care by improving the quality and speed of patient diagnosis and interventions. The Company has formed numerous long-term and strategic partnerships with investor groups and corporation as it drives commercialization of the Promaxo MRI system.
To learn more about the technology behind the MRI system and its scope, please visit: Promaxo.com.
LinkedIn: Promaxo
Twitter: @Promaxo
Facebook: Promaxo
Investors
Gilmartin Group
Vivian Cervantes
e: IR@promaxo.com
