Hyperfine announces expansion – GuruFocus.com

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GUILFORD, Conn., June 14, 2022 (GLOBE NEWSWIRE) — Hyperfine, Inc. (HYPR), creator of the Swoop® Portable MR Imaging System™, the world’s first portable magnetic resonance imaging (MRI) device cleared by the FDA US, today announced that it has completed device registration and notification in Australia and New Zealand. With this activity, the Swoop system is now available for purchase in Australia and New Zealand and includes the US FDA-approved advanced reconstruction software using deep learning. Several pilot research units have been commissioned in key Australian cities, strengthening Hyperfine’s entry into these two markets and laying the foundation for commercial efforts.

Hyperfine is pleased to announce the appointment of Quantum HealthCare as the company’s distributor for Australia and New Zealand. Now part of Paragon Care Limited, Quantum is one of the leading independent distributors of premium medical equipment in Asia Pacific. Quantum specializes in the distribution and services of state-of-the-art medical imaging and patient treatment equipment for the world’s leading suppliers. Quantum HealthCare Managing Director, Tiffany Chiew, said, “Quantum is delighted to distribute Hyperfine’s mobile MRI technology in Australia and New Zealand. With the announcement of our recent merger with Paragon Care, we are optimistic about the acceptance and growth of Hyperfine’s innovative technology in the region.

“Australia and New Zealand have a population of 31 million people spread over a large geographical area. The provision of relevant and essential magnetic resonance imaging services to the people of these two countries is further challenged by the overall historical costs of conventional MRI systems. Swoop runs on a normal wall power supply and is simple to use. The Hyperfine Swoop portable MRI system requires no special room layouts and is available at the bedside, enabling new care scenarios. We were thrilled to learn of the early success of Alfred Health and are excited for other upcoming sites to deploy Swoop,” said Dave Scott, President and CEO of Hyperfine.

The Hyperfine Swoop System has been in use for research purposes at Alfred Health in Melbourne since mid-late 2021. Melbourne. Reducing the staff and time needed to transport critically ill patients to the medical imaging department improves patient outcomes. Delocalized MRI also has the advantage of sparing patients exposure to ionizing radiation. Alfred Health is committed to providing state-of-the-art care with the first institution in Australia to provide point-of-care MRIs, CTs, Ultrasounds and X-Rays in our Intensive Care Unit,” said Professor Meng Law, director of radiology. , Alfred Health, Director of Integrated Biomedical Research in AI and Neuroimaging, Department of Neuroscience, Monash University.

The Australian National Imaging Facility (NIF) has selected the Swoop system as an industrial partner in a two million dollar project to provide state-of-the-art imaging capability to the Australian research community. NIF’s grid of imaging facilities are spread across Australia, providing a range of state-of-the-art imaging instruments and expertise in the optimal use of imaging technology to the Australian research community. “Hyperfine scanners provide point-of-care imaging that has the potential to transform access to MRI in rural and remote communities across Australia. Our project aims to expand their applications using artificial intelligence and improve accessibility to this potentially life-saving medical imaging technology for patients living in rural and remote areas,” said Professor Gary Egan, director of Monash Biomedical Imaging in Melbourne, Australia.

The Swoop Portable MRI Imaging System is used worldwide to address some limitations of current imaging technologies and make MRI more accessible. Hyperfine designed the system to move directly to the patient’s bedside, plug into a standard electrical wall outlet, and be controlled by a commercially available tablet. With the Swoop system, rapid MR imaging is now available at the point of care, potentially enabling physicians to diagnose and determine treatment for patients regardless of income or location.

For more information on the Hyperfine Swoop Portable MRI Imaging System, please visit http://www.hyperfine.io.

About Hyperfine and the Swoop Portable MRI System
Hyperfine, Inc. is the groundbreaking medical device company that created Swoop, the world’s first wearable MRI system cleared by the US FDA. Hyperfine designed Swoop to enable rapid diagnosis and treatment of all patients, regardless of income, resources or location, pushing the boundaries of conventional imaging technology and expanding patient access to lifesaving care. . The Swoop portable MRI imaging system produces high quality images at lower magnetic field strength, allowing clinicians to quickly scan, diagnose and treat patients in a variety of clinical settings at the point of care. Swoop can be moved directly to the patient’s bedside, plugged into a standard wall electrical outlet, and controlled by a tablet. Designed as a complementary system to conventional MRIs at a fraction of the cost, Swoop captures images in minutes, providing critical decision-making capabilities in a variety of clinical settings. For more information about Hyperfine, please visit https://www.hyperfine.io.

Forward-looking statements
This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Hyperfine’s actual results may differ from its expectations, estimates and projections and, accordingly, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “expect”, “anticipate”, “intend”, “plan”, “may”, “shall” , “could”, “should”, “believes”, “predicts”, “potential”, “continues” and similar expressions (or negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, Hyperfine’s expectations regarding financial results, future performance, the development and commercialization of products and services, the potential benefits and impact of Hyperfine’s products and services, potential regulatory approvals; and the size and potential growth of current or future markets for Hyperfine’s products and services. Most of these factors are beyond Hyperfine’s control and are difficult to predict. Factors that could cause such differences include, but are not limited to: the completion and audit of Hyperfine’s financial statements for the year ended December 31, 2021; the success, cost and timing of Hyperfine product development and commercialization activities, including the degree of acceptance and use of Swoop by healthcare professionals; the impact of COVID-19 on Hyperfine’s business; the inability to maintain the listing of Hyperfine’s Class A common stock on the Nasdaq following the recently completed business combination; failure to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and Hyperfine’s ability to grow and manage growth profitably and retain key employees; changes in applicable laws or regulations; Hyperfine’s inability to raise funds in the future; Hyperfine’s inability to obtain and maintain regulatory clearance or approval for its products, and any related restrictions and limitations of any licensed or approved products; Hyperfine’s inability to identify, license or acquire additional technology; Hyperfine’s inability to maintain its existing or future licensing, manufacturing, supply and distribution agreements; Hyperfine’s inability to compete with other companies that currently market or are engaged in the development of products and services that Hyperfine currently markets or develops; the size and growth potential of the markets for Hyperfine’s products and services, and its ability to serve those markets, either alone or in partnership with others; pricing for Hyperfine’s products and services and reimbursement for medical procedures performed using Hyperfine’s products and services; Hyperfine’s estimates of expenses, future revenues, capital requirements and additional financing requirements; the financial performance of Hyperfine; and other risks and uncertainties set forth from time to time in Hyperfine’s filings with the Securities and Exchange Commission, including those listed under “Risk Factors”. Hyperfine cautions readers that the above list of factors is not exclusive and readers should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Hyperfine neither undertakes nor accepts any obligation or undertaking to release updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which such statement is based. .

Contact Investor
Marissa Bych
Gilmartin Group
[email protected]

Media Contact (US)
Aunny De La Rosa-bath
APCO in the world
[email protected]

Contact Quantum Healthcare (Australia and New Zealand)
[email protected]
outside Australia: +61 2 8011 0430
toll free: 1800 228 118

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