ASX RELEASE
Volpara Health and Riverain Technologies Sign Collaboration Agreement for Lung Cancer Screening
Highlights:
Lung cancer causes ~130,000 deaths each year in the US alone, including ~60,000 women
Lung cancer CT screening programs are expanding and developing globally with ~15M people now eligible in the US with reimbursement set at ~US$250 per scan
Volpara entered the lung cancer screening market with its June 2019 acquisition of MRS Systems, Inc.
Volpara’s patient reporting, tracking, and risk assessment software, Volpara® LungTM, covers ~8% of US lung cancer screening
Riverain Technologies, based in Ohio, USA, are leaders in the application of AI to lung nodule detection
Partnership will enable lung cancer screening programs to have access to expanded, more integrated services for patient reporting and tracking, cancer risk assessment, and nodule detection
Wellington, NZ, 3 September 2021: Volpara Health Technologies (“Volpara,” “the Group,” or “the Company”; ASX:VHT), a global health technology software leader providing an integrated platform for personalised breast care, today announced that it has commenced a collaboration with Ohio-based Riverain Technologies as part of an expansion plan into the lung cancer screening market.
Volpara Lung software—an advanced, integrated, and adaptable reporting, tracking, and risk assessment solution for lung cancer screening—enables patient management from scheduling to diagnosis. The software offers structured reporting, customisable reminders, and more than 40 statistical reports to monitor and track patients—critical for outreach to patients overdue for their screening or follow-up exams. Volpara Lung automatically collects and validates all the required data elements for successful submission to the American College of Radiology Lung Cancer Screening Registry® for reimbursement.
Riverain Technologies offers ClearRead™ solutions that provide intelligent, enterprise-wide, standard-of-care AI tools for early, efficient detection of lung nodules. Their ClearRead suite significantly improves a clinician’s ability to accurately and efficiently detect disease using patented suppression technology in thoracic CT and X-ray images—for earlier, more efficient detection of lung abnormalities.
“The updated guidelines for CT lung cancer screening recently released by the US Preventive Services Task Force were an important step to improve eligibility and access to screening,” said Mark Koeniguer, Chief Commercial Officer of Riverain Technologies. “However, with a larger patient population, the guidelines also increase the need to track patients over time to ensure that they receive screening and follow-up exams in a timely manner. Volpara Lung software builds on our ability to help clinicians efficiently detect lung nodules and track patients throughout the screening and diagnostic process.”
Ralph Highnam, PhD, Group CEO of Volpara, said: “Riverain’s robust AI solution is a tremendous complement to our lung reporting and tracking capabilities. We are pleased to collaborate with them to improve access to accurate and efficient lung nodule detection among our Volpara Lung users, particularly across the Veterans Integrated Service Network (VISN), where we both provide services for a number of these sites.”
Authorisation & Additional Information
This announcement was authorised by the Board of Volpara Health Technologies Limited.
ENDS
For further information, please contact:
Ralph Highnam, CEO
Volpara Health Technologies
ralph.highnam@volparahealth.com
t: +64 21 149 0541
Trevor Chappell
WE Communications
WE-AUVolpara@we-worldwide.com
t: +61 407 933 437
About Volpara Health Technologies Limited (ASX: VHT)
VHT is a health technology software company founded in 2009 on research originally conducted at Oxford University. VHT’s clinical functions for screening clinics provide feedback on breast density, compression, dose, and quality, while its enterprise-wide practice-management software helps with productivity, compliance, reimbursement, and patient tracking.
VHT’s technology and services have been used by customers and/or research projects in 39 countries and are supported by numerous patents, trademarks, and regulatory clearances, including FDA clearance and CE marking. Since its listing on the ASX in April 2016, VHT has raised A$132 million, including A$37 million in April/May 2020, and has made two significant acquisitions in MRS Systems, Inc. (patient tracking software), and CRA Health, LLC (risk and genetics software). VHT is based in Wellington, New Zealand.