New York, March 12, 2023 - PRISM MarketView - AI medical diagnostics company, Spectral AI, Inc. (Nasdaq: MDAI), has inked a new contract with the Defense Health Agency (DHA) and the US Army Medical Materiel Development Activity (USAMMDA) that will provide significant support for the company’s development of a handheld version of its DeepView™ Wound Imaging System, DeepView SnapShot® M.
The contract is valued at over $500,000 and is expected to optimize the functionality and size of the DeepView SnapShot® M and to ensure its combat readiness. These optimizations will increase the device’s potential for a portable, handheld version for home health care and related invaluable assistance to medical professionals in many settings.
“Spectral AI is proud to partner with DHA and the USAMMDA on this crucial initiative. This award further validates Spectral AI’s technology and the importance of a battlefield burn solution we are focusing on. We firmly believe that this collaboration will make a profound impact, as the miniaturization of medical devices is essential for introducing innovative medical care to a wider range of clinical settings and patients. This development reaffirms Spectral AI’s dedication to shaping the future of accessible medical care and solidifies its position as a trailblazer in AI-driven healthcare innovation.”
Pete Carlson, CEO of Spectral AI
The Company has previously received significant non-dilutive financial support from the US Government totaling over $250 million, including $150 million awarded in the last six months. Spectral AI’s market cap stands at $31.28 million and its share price rose 16.0% in morning trading following the news.
About Spectral AI
Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns and diabetic foot ulcers. The Company is working to revolutionize the management of wound care by “Seeing the Unknown®” with its DeepView® System. DeepView® is a predictive diagnostic device that offers clinicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal of substantially exceeding the current standard of care in the future, DeepView® is expected to provide faster and more accurate treatment insight towards value care by improving patient outcomes and reducing healthcare costs. For more information about DeepView®, visit www.spectral-ai.com.
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