PCK - PainChek leads innovation in AI-based pain assessment
(NewsDirect)
PainChek Ltd (ASX:PCK), a medical devicecompany, is pioneering the use of an app, leveraging artificialintelligence (AI) for pain assessment in vulnerable individuals unableto communicate their pain due to conditions such as dementia,cognitive impairments, or in pre-verbal children.
In and interview with Proactive'sStephen Gunnion CEO and managing director Philip Daffas highlightedthat PainChek's app is the world's first regulatory-clearedmedical device for this purpose. It utilises AI for facial analysis todetect nine micro facial features indicative of pain, assisting carersin aged care and hospitals to document and score the severity of pain.PainChek has achieved a first mover advantage with patents in the US,Europe, Japan, and the UK, protecting its technology until 2038.
The company has regulatory clearance inAustralia, New Zealand, Canada, the UK, the EU, Singapore, andMalaysia, with ongoing clinical studies in the US aimed at FDAclearance.
PainChek reported itsfifth consecutive quarter of double-digit growth in the Decemberquarter, with 85,000 licences across 1,400 aged care facilities onthree continents. With an annual recurring revenue of around $4million, the company sees a significant growth opportunity in agedcare, home care, and the hospital sector.
Key milestones forinvestors include expansion in regulatory-cleared markets, entry intothe US market upon FDA clearance, and the launch of an infant app forpain assessment in the home.
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