Image analysis software developer Medicsight has received the European CE Mark for Release I of its CT recognition application. The Release I iterations include image analysis applications for CT images of the heart, lung, and colon: MedicHeart I, MedicColon I, and MedicLung I, respectively. The Delaware-based company said the Release II iterations of the software would contain computer-aided detection (CAD) capabilities.
In other news, the firm has successfully completed a $10 million stock placement to long-term investors, including European institutions and strategic partners, to assist the company in developing its international distribution expansion. These new funds will be used to continue the delivery of the company’s London-based Medicsight PLC’s business plan.
The developer also said it is holding discussions to acquire the outstanding 16% of ordinary shares in the London operation in order to secure cost savings and enable it to focus on building international brand recognition for a single investment vehicle.
By AuntMinnie.com staff writersOctober 8, 2003
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