Login | Register
Profile | Log out
logo

  • Home
  • News
  • Opinion
  • Other
    • Market Updates
    • Explainers
    • Satire
  • About
  • Contact Us
    • Contact
    • Get Covered
    • Posting Guidelines
  • Subscribe
Submit An Article

Latest Articles

  • Nanoveu Secures $2 Million to Fast-Track Commercial Launch of ECS-DoT Chip and AIoT Platform
    Nanoveu Secures $2 Million to Fast-Track Commercial Launch of ECS-DoT Chip and AIoT Platform
    • News

  • Archer Unlocks Cryogenic Sensor Breakthrough for Quantum Computing
    Archer Unlocks Cryogenic Sensor Breakthrough for Quantum Computing
    • News

  • EGL Secures $1.9M PFAS Plant Contract as Demand for Clean-Up Technologies Surges
    EGL Secures $1.9M PFAS Plant Contract as Demand for Clean-Up Technologies Surges
    • News

  • RocketDNA Secures Major Aerial Tech Contract with Vault Minerals at WA Gold Site
    RocketDNA Secures Major Aerial Tech Contract with Vault Minerals at WA Gold Site
    • News

  • BirdDog Boosts Buy-Back Offer by 40% Ahead of ASX Delisting Vote
    BirdDog Boosts Buy-Back Offer by 40% Ahead of ASX Delisting Vote
    • News

  • AML3D Launches High-Tech U.S. Facility to Power Submarine Supply Chain
    AML3D Launches High-Tech U.S. Facility to Power Submarine Supply Chain
    • News

  • Vection Enters $520K Agritech Deal to Build AI-Powered Farming Robot
    Vection Enters $520K Agritech Deal to Build AI-Powered Farming Robot
    • News

  • Unith Achieves Strong Growth in Platform Usage and Strategic Partnerships
    Unith Achieves Strong Growth in Platform Usage and Strategic Partnerships
    • News

  • FBR and Samsung Heavy Industries Execute Engineering Service Agreement for Shipbuilding Automation Project
    FBR and Samsung Heavy Industries Execute Engineering Service Agreement for Shipbuilding Automation Project
    • News

  • Bioxyne Lifts FY2025 Revenue Forecast as Psychedelics and Pharma Push Gains Pace
    Bioxyne Lifts FY2025 Revenue Forecast as Psychedelics and Pharma Push Gains Pace
    • News

Gold Coast Private Hospital becomes first buyer for Echo IQ’s SaaS-enabled heart disease detector EchoSolv

  • In News
  • June 22, 2023
  • Alinda Gupta
Gold Coast Private Hospital becomes first buyer for Echo IQ’s SaaS-enabled heart disease detector EchoSolv

If left untreated, aortic stenosis, i.e. heart valve disease, carries a high 2-5 year mortality rate. What’s more, fewer women compared to men receive an accurate diagnosis of the disease. So, in a matter of life and death, artificial intelligence (AI) shines through, with AI and MedTech company Echo IQ (ASX: EIQ) having found a solution to these problems in the form of its AI-driven Software-as-a-Service (“SaaS”) technology, EchoSolv.

The technology is capable of detecting heart valve diseases without human intervention, and its success has compelled hospitals to come on board. The Company has signed an agreement with the Gold Coast Private Hospital, part of Healthscope Ltd, Australia’s largest private hospital operator with 42 hospitals located across all Australian states and territories. This marks the first sale of EchoSolv into an Australian hospital.

Echo IQ Executive Chair, Andrew Grover, said, “This is an outstanding development for Echo IQ and excellent validation of EchoSolv by a leading and respected private Australian hospital with a large cardiovascular footprint. This sale delivers real momentum to our strategy of getting EchoSolv deployed at scale into a larger network of hospitals and cardiology clinics and practices, primarily in Australia and the United States where we have a pipeline of live opportunities.”

Queensland-based Gold Coast Private Hospital holds a prominent position within the healthcare landscape. For one, it shares a location with Gold Coast University Hospital and Griffith University, forming a vital component of the Health and Knowledge Precinct. Secondly, the hospital boasts a team of 15 cardiologists and 4 cardiothoracic surgeons. With its three advanced catheter labs and hybrid theatre, along with 18 state-of-the-art operating theatres, the hospital offers integrated cardiac care that encompasses diagnostic, therapeutic, and procedural services.

Gold Coast Private Hospital has chosen EchoSolv to enhance the accurate and timely identification of aortic stenosis (heart valve disease) among its patients. By deploying EchoSolv in its cardiology practice, Gold Coast Private Hospital’s clinicians will gain real-time access to comprehensive assessments of patient echocardiograms (ultrasound imaging of the heart) powered by Echo IQ’s innovative technology.

This real-time analysis will equip clinicians with powerful decision-support capabilities during diagnosis and treatment planning. The hospital will pay a monthly fee for this Software-as-a-Service (SaaS) solution. The initial contract spans 12 months, beginning with the provision of historical measurement data from Gold Coast Private Hospital for an initial review.

The agreement adheres to standard commercial terms for a partnership of this nature and is expected to generate approximately $70,000 in annual revenues for Echo IQ. Moreover, the collaboration provides Gold Coast Private Hospital with early access to Echo IQ’s future AI-backed solutions targeting additional forms of structural heart disease.

The Company has unveiled recent studies demonstrating EchoSolv’s ability to improve the detection of severe aortic stenosis by an impressive 72% compared to human-only diagnosis. Notably, EchoSolv exhibits significant accuracy in identifying patients with the disease, regardless of gender. Prior to its introduction, women were 66% less likely than men to receive an accurate diagnosis in the absence of EchoSolv.

Making a case for both AI and gender parity, EchoSolv is gearing up for more commercialisation opportunities in the US and Australia.

  • About
  • Latest Posts
Alinda Gupta
Alinda is a Business Reporter for The Sentiment
Latest posts by Alinda Gupta (see all)
  • Ovanti’s iSentric signs contracts worth $14.4m with Malaysian commercial bank - June 27, 2024
  • Baby Bunting fights back from retail downturn with 5-year strategy, includes Gen-Z focus and self-funded growth - June 27, 2024
  • CLEO meets with US FDA to develop strategy for ovarian cancer test launch - June 26, 2024
  •  
  •  
  •  
  •  
  • ai
  • asx eiq
  • Echo IQ
  • EchoSolv
  • Griffith University
  • medtech
  • News

Leave a Comment

You must be logged in to post a comment.

  • About
  • Latest Posts
Alinda Gupta
Alinda is a Business Reporter for The Sentiment
Latest posts by Alinda Gupta (see all)
  • Ovanti’s iSentric signs contracts worth $14.4m with Malaysian commercial bank - June 27, 2024
  • Baby Bunting fights back from retail downturn with 5-year strategy, includes Gen-Z focus and self-funded growth - June 27, 2024
  • CLEO meets with US FDA to develop strategy for ovarian cancer test launch - June 26, 2024

Login or register for free to access unlimited reading

Register Now!
  • About
  • Latest Posts
Alinda Gupta
Alinda is a Business Reporter for The Sentiment
Latest posts by Alinda Gupta (see all)
  • Ovanti’s iSentric signs contracts worth $14.4m with Malaysian commercial bank - June 27, 2024
  • Baby Bunting fights back from retail downturn with 5-year strategy, includes Gen-Z focus and self-funded growth - June 27, 2024
  • CLEO meets with US FDA to develop strategy for ovarian cancer test launch - June 26, 2024
  • News

  • Opinion

  • Satire

  • About

  • Contact Us

  • Subscribe

The content published on this website is solely for general information purposes and is not to be construed as financial advice. Should you seek financial advice you should consult with an appropriately qualified person. Opinions expressed on this site are subject to change without notice and The Sentiment who produced this content is under no obligation to keep the information current. The Sentiment, affiliated companies & associates may have a conflict of interest with companies discussed on the website due to commercial arrangements, for example they may be shareholders in the company, be engaged by them to assist in investor communications or receive commission/brokerage for funds raised.

Copyright © 2020 The Sentiment. All rights reserved.
Subscribe

Enter your email address below to subscribe to The Sentiment’s weekly newsletter, highlighting the top news, research, opinion and satire articles shaping ASX investor sentiment.

The Sentiment respects your privacy and will not spam you. View our privacy policy here.