MDST Medicsight

    RNS Number : 7601H
  Medicsight Plc
  10 November 2008
   


 Press Release   10 November 2008

    Medicsight Plc

    ("Medicsight" or "the Company")

    Third Quarter Summary Trading Statement
    Medicsight PLC (AIM: MDST), industry leader in the development of Computer-Aided Detection (CAD) and image analysis software to assist
in the early detection and diagnosis of disease, is pleased to announce its results for the third quarter ended 30 September 2008.
    Summary Financial Data
For the nine months to 30 September 2008
 *   net revenue from external customers was �57,000 (30 September 2007:
     �6,000) 
 *   operating loss before interest and tax of �7,301,000 (30 September 2007:
     �5,449 ,000)
 *   The Group's cash and equivalents balance at 30 September 2008 was
     �20,613,000 (30 September 2007: �26,333,000)
 *   The Group's total assets position at 30 September 2008 was �21,986,000
     (30 September 2007: �27,412,000) 

    David Sumner, Chief Executive of Medicsight PLC commented: "We are making good progress against our operational objectives and are in a
strong financial position with �20.6 million in cash on the balance sheet at 30 September.  In line with our strategy, we continue to
bolster our network of distribution partners and are currently in discussions regarding additional commercial agreements.  This year we have
achieved regulatory approvals for our MedicRead Colon workstation and ColonCAD* software in China and Brazil and we are progressing well
with the regulatory processes in Japan and the US.  We are also forging ahead with new research and development initiatives to develop new
CAD related products for use with non-Radiology based customers, with the initial feasibility studies expected to be completed during 2009.
Finally, and in line with expectations, Medicsight plans to unveil its online MedicRead Colon solution for selected geographies and Lung and
Liver applications in early December at the Radiological Society of North America (RSNA), 95th Scientific Assembly and Annual Meeting. "
    - ENDS -

    For further information:
 Medicsight plc
 David Sumner      +44 (0)20 7605 7950
                   www.medicsight.com 
 Nomura Code
 Jonathan Senior   +44 (0) 20 7776 1219 
 Juliet Thompson   +44 (0) 20 7776 1204

    Media enquiries:
 Abchurch
 Heather Salmond / Stephanie Cuthbert / Simone Alves  +44 (0) 20 7398 7700
 stephanie.cuthbert@abchurch-group.com                www.abchurch-group.com

    Notes to editors 
    Medicsight PLC is a UK-headquartered, research driven, leading developer of computer-aided detection (CAD) and image analysis software
for the medical imaging market. The CAD software  automatically highlights suspicious areas on computerised tomography (CT) scans of the
colon and lung, helping radiologists to identify, measure and analyse potential disease and early indicators of disease. Medicsight's CAD
software has been validated using one of the world's largest and most population diverse databases of verified patient CT scan data.
Medicsight's ColonCAD* and LungCAD* software products are seamlessly integrated with the advanced 3D visualisation workstations of several
industry-leading imaging equipment partners.

    About Computer-Aided Detection
    With increasingly sophisticated radiological imaging hardware such as Multi-Detector CT scanners, radiologists are facing a growing
challenge in the amount of detailed patient image data that they must review for each patient examination. Some CT scan examinations
generate as many as 2000 images per patient. Review of this data by the radiologist is not only time-consuming but also prone to error due
to reader fatigue. CAD software can help the reviewing radiologist by analysing the image data and automatically highlighting suspicious
regions of interest for closer inspection. Without CAD software some potential abnormalities or areas of disease may be overlooked. This is
critical for diagnosis and the management of patient outcomes as early detection of disease greatly increases the probability of successful
treatment and a positive therapeutic outcome. 

    About Medicsight's CAD software
    Medicsight's ColonCAD* and LungCAD* software use an advanced CAD algorithm to analyse CT scans of the colon and lung and automatically
highlight suspicious areas that may be indicators of disease. CAD may highlight areas easily overlooked by the reviewing radiologist, such
as small lesions or regions that are hidden from view behind folds in the colon or normal structures and surrounding tissue in the lung.

    Both CAD products seamlessly integrate with the advanced 3D visualisation platforms of industry-leading imaging equipment partners. The
integrated systems provide sophisticated image viewing capabilities, including 3D reconstructed image data, with the added advantage of
demonstrating automatic CAD findings to assist clinical end users in the detection and analysis of disease. This allows clinical end users
to perform either a 'second read', where CAD findings are displayed to the user after completion of an initial review of the CT scan data,
or a 'concurrent read' where CAD findings are displayed during the user's initial review of the original CT scan images.

    Since inception, Medicsight has developed close and lasting relationships with some of the world's  foremost clinicians in product
related areas. This provides the Company with a wealth of clinical expertise and dedicated clinical research to support ongoing product
development. Medicsight also collaborates with a number of leading academic institutions and clinical research programmes worldwide to
develop the Company's comprehensive database of population diverse verified  patient CT scan data, thus allowing Medicsight's products to be
validated to the highest possible standards.


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
TSTFSDFMWSASEIF

Medicsight (LSE:MDST)
Historical Stock Chart
From Jun 2024 to Jul 2024

Medicsight (LSE:MDST)
Historical Stock Chart
From Jul 2023 to Jul 2024