Artrya (ASX:AYA) has entered its first commercial agreement in Australia with The Cardiac Centre NSW and The Cardiac CT Centre NSW, based in the Illawarra and South Coast of New South Wales.
Under the 12-month Agreement, The Cardiac Centre NSW will use Artrya’s Salix Coronary Anatomy to detect vulnerable plaque in patients, the most accurate indicator of heart disease.
Artrya said Salix will be used across four specialist centres: The Cardiac Centre NSW in Wollongong, Shellharbour, Bowral, and Nowra. Collectively, these centres treat more than 25,000 heart disease patients per year.
The AI-driven Salix platform will provide complete diagnostic and assessment within 10 minutes of the first scan, improving coronary artery disease diagnosis workflow, saving unnecessary costs and minimising patient re-admissions.
The company said the agreement follows a successful evaluation, during which Salix Coronary Anatomy was assessed and validated by cardiovascular imaging specialists at The Cardiac Centre NSW. It said revenues are expected in late 2024, with fees generated through a subscription model to the Salix platform.
Artrya CEO Mathew Regan said, “Artrya delivers what we believe is the most advanced and seamless technology platform on the market for the detection, diagnosis, and care of coronary artery disease, creating a new standard of care for the number one cause of death in the world.
“I’m pleased to report that following a successful evaluation, The Cardiac Centre NSW has agreed to commercial terms for the use of Salix Coronary Anatomy across their specialist cardiac centres. We expect first revenues during Q4 FY24 following full integration of the Salix platform into their medical systems.
“This commercial agreement validates our strategy of entering new markets via evaluation periods, offering clinicians the opportunity to test and validate our technology, integrate it into their workflows, and experience firsthand the speed and accuracy of Salix in detecting heart disease compared to conventional methods.
“This agreement provides us access to four cardiac centres in NSW, a strong foundation to build on as we look to expand across NSW and other states in Australia.
“Heart disease is the leading cause of death in Australia, killing 155 Australians each day. Our AI-driven Salix Coronary Anatomy solution provides the first new approach to coronary heart diagnosis and care in 50 years. Salix provides full diagnostic and evidence-based assessment within 10 minutes of first scan, a game-changer in heart disease diagnosis, saving billions of unnecessary costs and minimising patient readmissions.”