Perimeter Medical Imaging AI (PINK.V), a Toronto, Canada and Dallas, Texas-based medical technology company focused on revolutionizing cancer surgery with ultra-high resolution imaging tools, announced today the commercial placement of its flagship Perimeter S-Series OCT system.
The system was placed at a hospital that is part of a major national healthcare system and one of the largest healthcare networks in North Texas.
Perimeter’s Optical Coherence Tomography (OCT) system provides cross-sectional, real-time margin visualization of tissue microstructures during surgical procedures. So, what does this mean and why is this important?
Okay, first the problem. Cancer surgery and in this case, breast cancer surgery is a delicate procedure. Surgeons do their best to remove cancerous tissue, but statistics are against them. Breast lumpectomy surgeries currently face a 20-25% reoperation rate.
Patients undergoing these repeated procedures, suffer from increased pain, delay in treatment, compromised cosmetic outcome and emotional trauma. This is not to mention the costs involved.
In a recent Canadian study, costs of a second surgery ranged from $8,225 CAD per patient with definitive BCS to a high of $26,026 for reoperation with mastectomy and delayed reconstruction.
These repeated surgeries are primarily due to the surgeon missing some cancerous tissue in the margins during surgery and not knowing this until well after the patient has left the hospital.
Perimeter’s OCT system brings the ability to screen for marginal cancerous tissue into the operating room, so the surgeon can examine marginal tissue in real-time and with the help of advanced AI, identify if the patient is good to go, or if extra work needs to be done.
Perimeter’s first commercial placement of its S-Series OCT in North Texas was announced December 20, 2021. Then on August 3, 2022, the company announced its first commercial placement of the S-Series OCT in the state of California at Pavilion Surgery Center in Orange, California.
This latest placement in North Texas continues to build Perimeter’s market footprint and significantly improves patient’s lives, giving them a better chance at life-changing positive outcomes without the stress and costs or repeated surgeries.
Jeremy Sobotta, CEO of Perimeter, commented on the last placement in North Texas, “This commercial placement of our Perimeter S-Series OCT system at a hospital in a major healthcare network marks a significant milestone for us as we gain traction validating our commercial model. Perimeter S-Series OCT aims to improve patient outcomes and lower healthcare costs, and we are excited that leading surgeons and hospitals are seeing the potential of our ground-breaking technology.”
Perimeter reported $44.97 million in cash and cash equivalents as of June 30, 2022, with revenues of $19,534 for the quarter ending June 30, 2022, for a comprehensive loss of $962,062.
Equity Guru’s own Jody Vance spoke with Jeremy Sobotta back in January to get an inside look at the company, its value proposition and investment growth potentional:
The company currently trades at $1.65 per share for a market cap of $105.80 million.
–Gaalen Engen