The Advanced Human Imaging Ltd (ASX: AHI) share price has been a very strong performer on Thursday.
In afternoon trade, the software company's shares are up over 15% to $1.82.
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Why is the Advanced Human Imaging share price surging higher?
Investors have been buying the shares of Advanced Human Imaging, formerly known as MyFiziq, following the release of an announcement today.
According to the release, the company has signed a binding terms sheet with US based on-device blood pathology company Jana Care.
The release explains that Jana Care has developed and patented an on-device blood screening tool called Aina. The patented Aina device is capable of providing rapid, accurate readouts of key blood chemistry elements in several chronic disease categories – cardiovascular, renal and metabolic (CVRM). It is used in over 1,500 clinics by over 10,000 health workers with more than 200,000 patients.
The company notes that the device delivers rapid, accurate readouts that are extremely valuable for healthcare partners and patients that have deployed personal health management apps via their carers, life/health insurers, wellness managers, fitness organizations, and telehealth doctors/facilities.
Furthermore, the device avoids the need for the patient to go to a medical facility or phlebologist to provide blood and then wait for the results.
What now?
The Aina device diagnostic solution will be provided by Advanced Human Imaging via its CompleteScan app to its partners for their onward use by selected persons whose blood chemistry information is needed on a timely and accurate basis.
The first demonstratable product is expected to be made available in the third quarter of 2021.
Advanced Human Imaging's Chief Executive Officer, Vlado Bosanac, commente: "The commercial distribution arrangement we have undertaken with Jana is an extremely important addition to the remote care and health assessment platform we are delivering to our partners and the vast communities they service around the world. The work Jana has and is doing in the care and identification of chronic disease is of paramount importance and a perfect addition to our offering."
"The use case is powerful, when a user performs a FaceScan or a BodyScan we are able to detect a number of potential risk parameters that relate to chronic diseases. These markers are not dissimilar to the checks a doctor would perform when a patient is attending the doctors practice. If the performed scans identify any of the markers, this will assist the care provider in the need to facilitate a blood test, at which time via the Aina device we will facilitate the draw, analysis and diagnostic reports for both the patient, doctor and care provider."
