AHI looks to complete Physimax acquisition

By Jonathan Jackson. Published at Apr 29, 2021, in Technology

Last week, Advanced Human Imaging (ASX:AHI)came out of trading halt to announce that it had agreed to acquire Israeli based Musculoskeletal Assessment (MSK) company Physimax Technologies Limited for US$6M.

AHI has now concluded the binding heads of agreement to acquire Physimax and will now turn its attention to conclude all due diligence on or before 21 May 2021.

Physimax has developed and patented a revolutionary video-based objective solution that tracks and improves MSK wellness via video capture using a mobile device.

Known as Advanced Musculoskeletal Assessment Artificial Intelligence, the technology addresses musculoskeletal conditions that affect 1.71 billion people worldwide.

In fact, musculoskeletal disorders such as lower back pain cause the highest burden on healthcare systems with a prevalence of 568 million people worldwide and these conditions are the leading contributor to disability worldwide, causing disability in 160 countries.

Why Physimax

Physimax offers a wide range of automated evidence-based functional movement tests, resulting in all-encompassing analytics that can lead to injury prevention and athletic performance enhancements. Physimax conducts comparative Athletic and musculoskeletal scores which are calculated in relation to the same level industry normative values, maximizing the accuracy of the results.

It is in a similar wheelhouse to AHI’s overall goal of assisting individuals, communities and populations live healthier lives, worldwide, through its BodyScan technology which enables users to privately check, track, and accurately assess their dimensions, solely using a smartphone.

AHI is effectively extending its footprint in remote health management.

“The musculoskeletal assessment space is seeing accelerated interest, with a number of insurance and carebased platforms having adopted Musculoskeletal assessment, being Dario Health, Hinge Health and Carrum Health, all now adding offerings within their customer care initiatives,” Vlado Bosanac, Chairman and Chief Executive Officer of Advanced Human Imaging, said.

“As I previously stated Physimax would be a welcome addition to the AHI MultiScan platform. The Physimax technology has seen broad acceptance of the application worldwide with over 250,000 scans performed to date.

“With the AHI on device 2D/3D capturing capabilities of our patented system, we anticipate that, should the acquisition proceed, we will further enhance the Physimax system in readiness for a global approach to these new capabilities.

“The Physimax technology is being used in multiple facets of care and Musculoskeletal enhancement throughout the US, Europe and Asia. The use of the platform is well documented and used by the NBA, Clinicians, US Military and Universities around the world.”

Bosanac says, AHI is actively looking for expansion opportunities similar to the pending Physimax acquisition, with a view to either a partnership, or when advantageous, acquisition.

It has certainly been active in this space lately, signing a marketing agreement with the owners of the WinScan App - China-Based, Tinjoy Biotech Limited and releasing the Original Fit Factory Ltd (TOFF) App integrated with AHI’s technology.

All this activity should augur well for AHI as it draws closer to its NASDAQ listing.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!