- Volpara Health (VHT) signs a three-year volume-based contract with Sutter Health for the VHT breast cancer risk assessment technology
- The contract represents an additional $900,000 in total contract value for VHT over the next three years
- The company plans to install its Risk Pathways program for Stutter Health within the next six months
- Meanwhile, VHT is participating in an upcoming AI in Healthcare panel with Microsoft and tech company Alcidion to discuss AI-based screening
- VHT shares are up 3.82 per cent and trading at 68 cents at 3:24 pm AEDT
Volpara (VHT) has signed a volume-based contract with Sutter Health for the supply and installation of the VHT breast cancer risk assessment technology.
Sutter Health is a not-for-profit health delivery system in the US.
Sutter operates 24 acute care hospitals and over 200 clinics in Northern California, and the newly-signed contract will add $900,000 to VHT’s total contract value over the next three years.
The contract will cover a three-year subscription license term with annual payments.
The installation of the Risk Pathways program is due to commence in the next six months and is expected to contribute to Volpara’s revenue in the 2024 financial year.
Meanwhile, Volpara CEO Teri Thomas said new study results presented at the European Congress of Radiology (ECR) demonstrated the “important” role of Volpara software in objective breast cancer risk assessments.
“The evidence presented at ECR comes at a moment when European screening programs are realizing AI gives them an opportunity to help more women, easing staffing challenges,” Mr Thomas said.
“Volpara’s long been a leader in the application of AI in breast imaging, with Microsoft’s investment in OpenAI, maker of ChatGPT, it’s a great time to address how technology advances may impact our future healthcare.”
VHT noted that pairing AI computer-aided detection system Transpara with Volpara’s volumetric density assessment improved dense breast tissue screening in women.
The AI-powered image analysis provides more precision in helping technologists produce mammograms with optimal image quality, positioning, compression, and dose.
VHT is participating in an AI in Healthcare panel to discuss whether AI-based screening could be an alternative to screening with MRIs.
With the health industry facing increasing staffing shortages, VHT offers software that improves the efficiency of operations and provides “key” performance improvement insights.
VHT shares were up 3.82 per cent and trading at 68 cents at 3:24 pm AEDT.