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RadNet's DeepHealth Subsidiary Expands FDA Clearance for SmartMammo™ Solution

1. SmartMammo Dx receives FDA clearance for GE HealthCare's systems, enhancing cancer detection. 2. Clearance allows broader access to advanced breast cancer screening solutions. 3. RadNet expands AI capabilities, likely improving operational efficiency and patient care. 4. SmartMammo's integration supports millions of exams, boosting RadNet's market position. 5. The clearance strengthens collaboration between RadNet and GE HealthCare.

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FAQ

Why Bullish?

The FDA clearance enhances RadNet's service offerings, potentially increasing revenue. Past FDA approvals in tech sectors often correlate with stock price upticks.

How important is it?

The news directly affects RadNet's core business, enhancing diagnostic services. Such advancements are critical for growth potential in healthcare.

Why Long Term?

The partnership with GE HealthCare and advanced AI capabilities can boost growth over time. Historically, similar advancements have led to sustained stock performance improvements.

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GEHOLOGIC
November 29, 2024 06:00 ET | Source: RadNet, Inc. SmartMammo™’s AI algorithm now FDA cleared with GE HealthCare’s Senographe Pristina™, expanding access to enhanced cancer detection. The clearance enables RadNet’s DeepHealth and GE HealthCare collaboration to bring together the SmartMammo and Senographe Pristina solutions and transform breast cancer diagnosis. SOMERVILLE, Mass., Nov. 29, 2024 (GLOBE NEWSWIRE) -- DeepHealth, Inc., a wholly-owned subsidiary of RadNet, Inc. (NASDAQ: RDNT) and a global leader in AI-powered health informatics, has received expanded FDA 510(k) clearance for its innovative mammography software. SmartMammo Dx, the AI algorithm within SmartMammo1, is now FDA-cleared to be compatible with GE HealthCare’s Senographe Pristina™ mammography systems. SmartMammo Dx was first cleared in May 2012 in conjunction with HOLOGIC mammography systems, where its performance has also been tested and cleared in patients with unilateral breasts and with breast implants. This newly expanded clearance advances DeepHealth’s mission to enhance and expand breast cancer screening programs by broadening system compatibility. “This FDA clearance allows us to expand access to high-quality breast cancer screening to more patients,” said Kees Wesdorp, President and CEO of RadNet’s Digital Health segment. “By bringing SmartMammo’s improved cancer detection to GE HealthCare’s mammography systems, more providers can harness the power of AI to help redefine radiology workflows and address key challenges across the imaging value chain, to improve speed, clinical accuracy, operational efficiency, and elevate patient care.” SmartMammo Dx is a key component of DeepHealth’s comprehensive SmartMammo1 solution, delivering advanced AI-driven tools that empower radiologists to interpret digital breast tomosynthesis (DBT) mammograms with greater precision. The software identifies suspicious soft tissue lesions and calcifications and assigns finding-specific and case-specific suspicion levels with increased diagnostic accuracy. DeepHealth’s FDA-cleared breast cancer diagnostic technologies have already supported millions of exams over the last two years with HOLOGIC mammography systems through the Enhanced Breast Cancer Detection (EBCD) program at RadNet. The expanded FDA clearance with GE HealthCare’s Senographe Pristina should further accelerate the adoption of AI-powered breast cancer screening at RadNet and with other providers. The FDA clearance underscores DeepHealth and GE HealthCare’s shared commitment to advancing patient-centric, interoperable, and scalable imaging solutions. The two companies aim to set new standards in AI-powered breast imaging to help radiologists deliver better care faster. For more information about SmartMammo Dx and its impact on breast cancer screening, visit deephealth.com 1 SmartMammo™ comprises multiple components, including SmartMammo Dx (also known as Saige DX), SmartMammo Density, DeepHealth Viewer, and SmartMammo Assure. DeepHealth Viewer is Manufactured by eRAD and Distributed by DeepHealth. Any claims made about SmartMammo™ may reference claims associated with its individual components. About RadNet, Inc.RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of 399 owned and/or operated outpatient imaging centers. RadNet’s markets include Arizona, California, Delaware, Florida, Maryland, New Jersey, New York and Texas. In addition, RadNet provides radiology information technology and artificial intelligence solutions marketed under the DeepHealth brand, teleradiology professional services and other related products and services to customers in the diagnostic imaging industry. Together with affiliated radiologists, and inclusive of full-time and per diem employees and technologists, RadNet has a total of over 10,000 employees. For more information, visit http://www.radnet.com. About DeepHealthDeepHealth is a wholly-owned subsidiary of RadNet, Inc. (NASDAQ: RDNT) and serves as the umbrella brand for all companies within RadNet's Digital Health segment. DeepHealth provides AI-powered health informatics with the aim of empowering breakthroughs in care through imaging. Building on the strengths of the companies it has integrated and is rebranding (i.e., eRAD Radiology Information and Image Management Systems and Picture Archiving and Communication System, Aidence lung AI, DeepHealth and Kheiron breast AI and Quantib prostate and brain AI), DeepHealth leverages advanced AI for operational efficiency and improved clinical outcomes in lung, breast, prostate, and brain health. At the heart of DeepHealth’s portfolio is a cloud-native operating system - DeepHealth OS - that unifies data across the clinical and operational workflow and personalizes AI-powered workspaces for everyone in the radiology continuum. Thousands of radiologists at hundreds of imaging centers and radiology departments around the world use DeepHealth solutions to enable earlier, more reliable, and more efficient disease detection, including in large-scale cancer screening programs. DeepHealth’s human-centered, intuitive technology aims to push the boundaries of what's possible in healthcare. https://deephealth.com/ Forward Looking Statement This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements regarding the capabilities of RadNet, GE HealthCare, Hologic and DeepHealth’s informatics, hardware and software product portfolios and the collaboration’s impact on radiology practices and healthcare workflow, are expressions of our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, and anticipated future conditions, events and trends. Forward-looking statements can generally be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Because forward-looking statements relate to the future, they are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not place undue reliance on any of these forward-looking statements. For media inquiries, reach out to: DeepHealthAndra AxenteCommunications DirectorPhone: +31 614 440971Email: andra.axente@deephealth.com RadNet, Inc.Mark StolperExecutive Vice President and Chief Financial Officer310-445-2800

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