Advanced Human Imaging Signs Letter of Intent to Acquire Israeli-Based Physimax Technologies
PERTH, Australia, April 19, 2021 /PRNewswire/ -- Advanced Human Imaging Limited (ASX: AHI) ("AHI" or the "Company") is pleased to announce that it has signed a Letter of Intent (LOI) for the proposed acquisition of Israeli-based musculoskeletal assessment company Physimax Technologies Limited (Physimax).
Physimax has developed a revolutionary video-based solution that tracks and improves musculoskeletal wellness, therapy and performance by objective, data-driven analysis of musculoskeletal condition via a mobile device.
The imaging technology measures and scores mobility, stability, strength, and movement control through movement patterns and multidimensional computer analysis. The software-based technology provides a data-driven assessment of an individual's musculoskeletal system and identifies problematic issues prior to delivering a personalized solution.
"The Physimax team has spent 7 years developing, validating and commercializing this innovative technology that is being applied worldwide with over 250,000 scans performed to date," said Vlado Bosanac, Chief Executive Officer of AHI. "The technology is being used in multiple facets of musculoskeletal care and enhancement throughout the US, Europe and Asia."
With no set-up required, the patented technology takes minutes to obtain a professional assessment, with real-time feedback that cuts out the need for an in-person assessment. The substantial time saved for staff and athletes has driven NFL, NBA, MLB and elite soccer teams, D1 colleges, US Military units and top healthcare providers to implement Physimax's technology to reduce injury and expenses.
This unique system has benefits to cut substantial costs and risks for functional disability. It performs assessments and corrective programs prior to costly surgeries.
Vlado Bosanac continued, "with the on device 2D/3D capturing capabilities of the AHI patented system, we will be working together to provide a best-in-class system with innovative capabilities to the global community. We will continue to identify opportunities that are complementary to the AHI offering, with the intent to either partner, or when advantageous, acquire."
Musculoskeletal conditions comprise of more than 150 conditions that affect the locomotor system, including fractures, sprains, and strains, to lifelong conditions that can be disabling, persistently painful, and can limit mobility, dexterity and functionality. A recent analysis of Global Burden of Disease data showed that approximately 1.71 billion people globally have musculoskeletal conditions.
The LOI is subject to AHI conducting due diligence to its satisfaction on or before May 21, 2021.
For more information about AHI's technology, please visit: www.advancedhumanimaging.com
For more information on Physimax, please visit: https://pmax.co/
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SOURCE Advanced Human Imaging
Company Codes: Australia:AHI