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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Medica Group Plc    MGP   GB00BYV24996

MEDICA GROUP PLC

(MGP)
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Medica : and Qure.ai partner to use artificial intelligence to improve efficiency of workflow and clinical decision support

03/23/2020 | 11:05am EST

Medica Group Plc (LSE: MGP, 'Medica' or the 'Company'), the UK market leader in teleradiology services, and Qure.ai, a global leader in artificial intelligence (AI) solutions for radiology, announce a strategic partnership to develop AI tools for prioritisation and improved efficiency of radiology scan workload.

Under the terms of the agreement, Medica will partner with Qure.ai in two important areas:

  • The first is to launch a decision support tool for CT (computed tomography) head scan examinations. This tool will flag potential urgent examinations allowing prioritisation of reporting based on clinical priority as opposed to chronological allocation. The tool will also highlight potentially critical findings to reporters, which can be integrated into their diagnoses. The tool will be trialed and implemented to augment Medica's urgent, out-of-hours NightHawk service.
  • The second area is to co-develop a bespoke AI-based automated workflow improvement tool that aims to improve the efficiency of study allocation from NHS clients to Medica's network of over 435 reporters.

Stuart Quin, Chief Executive Officer of Medica commented:
'Medica has been actively following the development of decision support tools using artificial intelligence to better understand the benefit to our clients. As we indicated in September 2019, our focus has been on areas that can have an immediate improvement to workflow and can support clinical decision making. As a leader in artificial intelligence solutions for radiology with an impressive track record of successful deployment in teleradiology workflows, backed up by peer-reviewed studies, Qure.ai is an ideal partner.'

Prashant Warier, Chief Executive Officer of Qure.ai commented:
'We are excited to partner with Medica, the UK's leading provider of teleradiology reporting, and we look forward to working with their team to realise the benefits of artificial intelligence in this important market. The tools being developed for Medica will improve efficiencies and support their strong network of highly skilled radiologists and radiographers.'

For further information, please contact:

Medica Group
Stuart Quin, Chief Executive Officer
Kevin Terrins, Business Development Director
+44 (0)33 33 111 222

Qure.ai
Prashant Warier, Chief Executive Officer
Rohit Ghosh, Business Development Director
rohit.ghosh@qure.ai

FTI Consulting
Victoria Foster Mitchell
Robert Winder
+44 (0)20 3727 1000

About Medica Group PLC
Medica is the UK market leader in the provision of teleradiology services, providing outsourced interpretation and reporting on MRI (magnetic resonance imaging), CT (computerised tomography) and plain film (x-ray) images. The Company currently offers three primary services to hospital radiology departments: NightHawk, an out-of-hours service, routine cross-sectional reporting on MRI and CT scans, and routine plain film reporting on x-ray images.
Medica has developed a bespoke, secure IT platform that provides market-leading linkage between a hospital's radiology information system (RIS) and consultant radiologists who contract with Medica. Direct RIS access ensures that the full wider patient information is available and reviewed with every report.
The Company contracts with the largest pool of consultant radiologists outside of the NHS and has been trusted to provide more than 1.3 million examinations annually across its customer base of more than 100 NHS Trusts and various private hospital groups and diagnostic imaging companies.

For more information please visit www.medicagroup.co.uk.

About Qure.ai
Headquartered in Mumbai, India, with U.S. operations in San Francisco and New York, Qure.ai is a breakthrough Artificial Intelligence (AI) solution developer that is disrupting the radiology 'status quo' by enhancing imaging accuracy and improving health outcomes with the assistance of machine-supported tools. Qure.ai taps deep learning technology to provide automated interpretation of radiology exams like X-rays, CTs and MRI scans for time and resource-strapped medical imaging professionals-enabling faster diagnosis and speed to treatment. Qure.ai is helping make healthcare more accessible and affordable to patients worldwide.

For more information, please visit www.qure.ai.

Disclaimer

Medica Group plc published this content on 23 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2020 16:04:05 UTC


© Publicnow 2020
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Sales 2020 36,8 M 50,8 M 50,8 M
Net income 2020 3,25 M 4,49 M 4,49 M
Net Debt 2020 0,39 M 0,53 M 0,53 M
P/E ratio 2020 45,3x
Yield 2020 1,33%
Capitalization 144 M 198 M 198 M
EV / Sales 2020 3,91x
EV / Sales 2021 2,63x
Nbr of Employees 120
Free-Float 88,6%
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NameTitle
Stuart James Quin Chief Executive Officer & Director
Richard Crispin Morgan Jones Chief Financial Officer & Executive Director
G. Roy Davis Independent Chairman
Stephen Griffith Davies Director, Medical Director & Responsible Officer
Marc O'Brien Chief Information Officer
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