Issued on behalf of Avant Technologies Inc.
VANCOUVER – Baystreet.ca News Commentary – Artificial intelligence is transforming healthcare at breakneck speed, creating both unprecedented opportunities and legitimate concerns about patient safety and clinical adoption. Market.us analysts project the global AI in healthcare market will reach nearly $700 billion by 2034, powered by a staggering 38.5% compound annual growth rate that reflects massive institutional investment and accelerating innovation. As breakthrough technologies advance toward FDA clearance, the critical challenge shifts from pure development to earning physician trust and demonstrating real-world clinical efficacy. For investors, this convergence of regulatory progress and market validation represents a potentially massive wealth creation opportunity, with companies like Avant Technologies, Inc. (OTCQB: AVAI), GE HealthCare Technologies Inc. (NASDAQ: GEHC), Caris Life Sciences, Inc. (NASDAQ: CAI), Zimmer Biomet Holdings, Inc. (NYSE: ZBH), and Monogram Technologies Inc. (NASDAQ: MGM).
The stakes couldn’t be higher, with Accenture estimating AI could unlock $461 billion in additional healthcare value by 2035. However, realizing this potential demands platforms that consistently deliver accurate results in life-or-death diagnostic scenarios where false positives and missed diagnoses carry devastating consequences.
Avant Technologies, Inc. (OTCQB: AVAI) and joint-venture partner Ainnova Tech have accelerated their FDA approval timeline for Vision AI, an AI-powered diagnostic tool that can detect diabetic retinopathy in minutes without requiring an eye specialist on-site. The companies have accelerated their timeline by finalizing an enhanced patient recruitment strategy targeting approximately 1,000 multiethnic patients across 8-10 U.S. clinical sites.
Ainnova will collaborate directly with Fortrea, a globally recognized contract research organization specializing in ophthalmology studies, to recruit patients primarily from community clinics and primary care facilities. This approach captures real-world data that reflects the diverse population affected by diabetic retinopathy while positioning Vision AI for broader commercial adoption.
“By focusing on community clinics and targeting a multiethnic group of around 1,000 diabetic patients, we aim to ensure that our study accurately represents the diverse population affected by diabetic retinopathy,” said Vinicio Vargas, CEO at Ainnova and Board member of Ai-nova Acquisition Corp. (AAC). “Working with Fortrea, an expert CRO in ophthalmology, allows us to confidently navigate this process with a partner that shares our commitment to quality and efficiency. We are getting closer to initiating a clinical study that will significantly contribute to obtaining FDA 510(k) approval and making our Vision AI platform a crucial tool in early disease detection.”
This recruitment breakthrough builds on decisive regulatory progress following Ainnova’s mid-July pre-submission meeting with the FDA, where the agency delivered clear guidance on study design and compliance requirements. The refined clinical trial protocol, which addresses all FDA comments, has been presented to Fortrea for final review and will set the stage for a formal U.S. study that supports FDA 510(k) clearance to market Vision AI domestically.
Beyond regulatory advancement, Vision AI is gaining commercial momentum across multiple fronts. Vargas recently showcased the platform at Roche’s “Macular Spectacular” conference in Colombia, highlighting breakthrough results from a Q4 2024 pilot with Roche and Salud 360 that positions Vision AI for expansion across the U.S., Canada, and Europe.
The technology has already gone live through Grupo Dökka’s Fischel and La Bomba pharmacy chains, delivering walk-in screenings with real-time AI results and eliminating the need for onsite ophthalmologists.
This proven pharmacy model is attracting attention from insurers and life sciences partners who recognize Vision AI’s potential to transform preventive care delivery. The platform’s cost-effective approach addresses critical gaps in diabetic eye care while creating new revenue streams for retail healthcare providers.
Vision AI’s success positions Ainnova to dominate broader disease detection markets. The company’s expanding roadmap includes cloud-connected retinal cameras for rural clinics and revolutionary modules targeting Alzheimer’s, cardiovascular conditions, and other chronic diseases through advanced retinal and blood biomarker analysis.
With diabetic retinopathy affecting 9.6 million Americans and representing a US$3.25 billion U.S. market projected to nearly double to US$6.1 billion by 2033, Avant maintains worldwide licensing rights to Ainnova’s platform through AAC. This positions U.S. market entry as a transformative commercial inflection point.
Avant continues evaluating a strategic acquisition of Ainnova Tech under a previously announced non-binding LOI, potentially consolidating breakthrough AI healthcare technologies and proven leadership under a single public platform. The company has also signaled plans for a dedicated therapeutic-focused spinout, creating multiple pathways to capture the expanding AI-driven healthcare transformation.
CONTINUED… Read this and more news for Avant Technologies Inc. https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
GE HealthCare Technologies Inc. (NASDAQ: GEHC) launched its Definium™ Pace Select ET digital X-ray system, designed to address critical staffing shortages where 80% of healthcare organizations lack adequate radiology technologists. The AI-powered system automates manual workflows and reduces physical strain while delivering high-quality imaging typically found in more expensive overhead tube systems at an affordable floor-mounted price point.
“Burdened with the stress and pressure to keep radiology departments running smoothly and profitably, we aim to empower technologists with a system that consistently makes the first image count,” said Sharad Sharma, Global General Manager, X-ray, at GE HealthCare. “With its advanced digital capabilities and automation, Definium Pace Select ET allows technologists of all experience levels to deliver consistent high-quality images to serve the full range of anatomies and patient populations.”
With X-ray exams representing 60% of all imaging studies, the technology positions GE HealthCare to capture growing demand while solving operational efficiency challenges across high-volume healthcare environments.
Caris Life Sciences, Inc. (NASDAQ: CAI) published groundbreaking research in Communications Medicine demonstrating its AI-based image analysis model can predict cancer biomarkers and patient survival more accurately than conventional diagnostic methods.
“Caris’ AI model enhances predictive accuracy, integrating features from both staining methods, and exhibits superior prognostic precision compared to current biomarker assessments,” said Matthew Oberley, MD, PhD, SVP, Chief Clinical Officer and Pathologist-in-Chief at Caris. “Clinical adoption of this tool could improve the precision and efficiency of cancer patient evaluation and aid clinical decision making.”
The study analyzed over 35,000 patients and showed AI-positive breast cancer patients treated with checkpoint inhibitors lived almost twice as long as AI-negative patients, achieving superior prognostic precision compared to traditional PD-L1 testing. This breakthrough highlights Caris’ potential to transform immunotherapy decisions and precision oncology through advanced AI integration with comprehensive molecular profiling capabilities.
Zimmer Biomet Holdings, Inc. (NYSE: ZBH) recently announced a definitive agreement to acquire Monogram Technologies Inc. (NASDAQ: MGM) for $4.04 per share upfront plus potential contingent payments up to $12.37 per share, representing approximately $177 million in equity value.
“Since our inception, we have been singularly focused on advancing orthopedic robotics with technology designed to safely, efficiently and accurately support surgeons with total knee arthroplasty,” said Benjamin Sexson, CEO of Monogram. “We are thrilled by the opportunity to add our technology to Zimmer Biomet’s leading portfolio of surgical robotics, navigation solutions and trusted implants and to benefit from their deep industry expertise and global scale.”
Monogram’s semi-autonomous and fully autonomous robotic technologies will expand Zimmer Biomet’s ROSA® Robotics platform, with Monogram’s CT-based AI-navigated knee replacement system receiving FDA clearance in March 2025 and expected commercialization in early 2027.
“Monogram’s technology is a major leap forward, demonstrating our commitment to becoming the boldest and broadest innovator in surgical robotics and navigation,” said Ivan Tornos, Chairman, President and CEO of Zimmer Biomet. “Upon closing, our customer-centric portfolio will consist of the most comprehensive and flexible technology ecosystem to support the varying preferences of a vast array of surgeons – now and into the future. With Monogram’s proprietary technology, Zimmer Biomet has the potential to become the first company to deliver fully autonomous capabilities and redefine both the standard of care and the future of orthopedic surgery.”
With ROSA approaching 2,000 global installations and market leadership outside the U.S., the combined entity strengthens capabilities in one of orthopedics’ fastest-growing segments. The transaction is expected to be neutral to earnings through 2027 and accretive thereafter, with closing anticipated later this year pending regulatory approvals and shareholder approval.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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