Making clinical
ultrasound EASIER to learn and
SIMPLER to use
2023 Annual Results
Year ended 31 December 2023 (audited)
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PURPOSE
to make ultrasound, the world's fastest, safest and cheapest imaging modality, easier to learn and simpler to use
VISION
enable ultrasound for everyone
STRATEGY
continue to build our range of ultra-realistic simulators to lead the world in hi-fidelity ultrasound training
follow clinicians into the scanning room to give them AI-driven tools that enable them to scan patients faster and better
be at the forefront of using AI to enable ultrasound scanning in primary care and ultimately at-home to enable ultrasound for all
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2023 summary
Financial highlights:
- Group revenue grew by 11% to £11.2m (2022: £10.1m)
- Clinical AI-related revenues trebled to £2.0m (2022: £0.7m)
- Simulation revenues declined by 3% to £9.1m (2022: £9.4m)
- Loss after tax decreased to £2.6m (2022: £3.0m)
- Cash at 31 December 2023 of £3.0m (31 December 2022: £7.2m)
Operational highlights:
- GE Healthcare's SonoLyst software launched as a standard feature on the new Voluson Expert 22 and 20 in Q4 2023
- Liver images agreement signed with Dundee University in Q4 2023
- ScanNav FetalCheck development programme announced for new gestational age AI product in Q4 2023
- ScanTrainer Endometriosis simulator module released in Q2 2023
Post year end:
- GE Healthcare's SonoLyst software launched as a standard feature on the new Voluson Signature 20
- ScanNav FetalCheck to be used in trial funded by the Bill and Melinda Gates Foundation
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Making clinical
ultrasound EASIER
to learn and
SIMPLER to use
Imaging background
Since the discovery of X-Ray, medical technology has been advancing to provide images that help clinicians see inside the human body…
Of all available imaging modalities, X-Ray, MRI, CT etc.,
ultrasound is the fastest, cheapest, safest and its
diagnostic applicability in many areas is well recognized, but…
Unlike X-Ray, MRI, CT, ultrasound is a dynamic, real-time
modality where the skills of the operator are paramount
Our vision is to make ultrasound easier to learn and simpler to use by minimising this obstacle
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Classroom to Clinic | 2014 |
A unique range of products in a growing market |
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Classroom to Clinic | 2024 |
A unique range of products in a growing market |
COMPACT for med schools
PLUS
includes
Pre-regulatory | In POC development |
UK, EU and US
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AI sales beginning to take-off
18
16
14
12
10
8
6
4
2
0
Cavendish forecast £15.6m
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Simulation Revenue | Clinical AI Revenue | 2022 simulation |
adjusted for £2m | ||
one-off |
IUG range £14-17m
2024
Over 1700sim systems soldinto over
800 institutions
c. 1800clinical AI products sold to date*
*Clinical AI products includes ScanNav PNB,
NeedleTrainer, ScanNav FetalCheck and SonoLyst
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CLASSROOM SIMULATION
Making clinical
ultrasound EASIER
to learn and
SIMPLER to use
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Training through ultra-realistic simulation
The foundation stone of our business
Simulation Revenue
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Cavendish
forecast
12
10
8 | c.14% CAGR | £9.4m less |
one off £2m |
Hospitals by region: USA c.6,000 UK. c.1,200 Europe c.15,000
Global teaching Schools 2,900
Estimated global simulation market
c.£105m
2022
6 |
4
2
0
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
Over 1700systems
soldinto over 800
institutions
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Disclaimer
Intelligent Ultrasound Group plc published this content on 21 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2024 14:28:03 UTC.