PERTH, Australia, Feb. 23, 2022 /PRNewswire/ -- Advanced Human
Imaging Limited (ASX: AHI) (NASDAQ: AHI) ("AHI" or the "Company")
developer of a leading patented, proprietary technology that
enables its users to check, track, and assess their dimensions in
conjunction with known health risk indicators using only a
smartphone, both privately and accurately, today issued the
following letter to shareholders from its newly appointed Chief
Executive Officer, Dr Katherine
Dear Fellow Shareholders,
I would first and foremost like to thank you for the opportunity
to, once again, lead such an innovative, forward-thinking company.
I'm looking forward to building atop of the strong foundation built
by my predecessor Vlado Bosanac.
It is important to note, while he has stepped off the board and
has ceased to be CEO, Vlado will remain an integral member of the
team as our Head of Strategy and Revenue, and I look forward to
working with him moving forward. Vlado, in his new role, will
report to the board and the executive team.
Despite the transition in the CEO role, I'm pleased to say that
our team of incredibly talented individuals have not skipped a beat
and are dedicated to proving themselves at this time of transition.
Our people are, and will continue to be, the key to our collective
As the Company's Cofounder, I have proudly watched its
transformation and growth from its initial conception as "MyFiziq",
a primarily B2C offering, into what it is today – a global, highly
scalable and innovative B2B company that is disrupting multiple
verticals, including fitness, virtual health and insurance.
I would like to start by personally introducing myself, sharing
who I am and what makes me excited, inspired and motivated to lead
One of my earliest memories was of a road trip to visit our
extended family. During the drive, my father, a professor of
neuroscience, pulled over after seeing a deceased porcupine who was
unfortunately struck violently, exposing their innards. My father
used the opportunity to teach my brother and I anatomy – what
organs do, how they work, etc. While many would consider this not
only odd but inappropriate for children, for me, it was exactly the
opposite. Since that time, I've always looked at the human body as
a wondrous mystery.
It was for this reason (and many others) that I have dedicated
two decades to studying the science of human functioning. Both my
Masters and Doctoral degrees focused on the use of implantable
technology to manage the complications of diabetes, as well as
testing its accuracy so that functioning could be improved. This
research provided key learnings that later assisted future
innovation, including how to 'close the loop', a process that aims
to mimic the functioning of a healthy pancreas.
My work in type 1 diabetes spanned several years and includes
publications in multiple international peer-reviewed journals, one
of the first being a chapter in The International Olympic Committee
Volume XIII Encyclopaedia of Sports Medicine, co-written during my
These experiences provided me with a unique opportunity to both
understand the 'inner' workings of technology, how they function
and how they are adopted in the 'real world'.
At the same time of my research, diseases resulting from
unhealthy lifestyles were rising at insurmountable rates. Terms
such as 'diabesity' and 'metabesity' were coined to reflect the
comorbidities resulting from obesity including high blood pressure,
heart failure, heart attack, stroke and death. The impact is
costly, estimated at $2.0 trillion in
2014, affecting more than 2.1 billion people. Five percent of
deaths were attributable to obesity.
There is also the invisible impact of obesity on mental health
to consider. The link between obesity, shame and declining mental
health is indisputable. For example, persons with extreme obesity
compared to those of average weight are near five times as
likely to suffer from major depression.
But the barriers to alleviating this problem are just as
concerning and include:
- outdated clinical practice guidelines
- lack of technological support
- financial constraints
- lack of training for health care providers
The burden of the four aforementioned issues is precisely why
our team is so passionate about the potential impact of AHI's
AHI's technology has rapidly advanced beyond the initial concept
of simply 'measuring the human body'. Through advances in
technology, the drive of our leadership, combined with the
Company's future plans for further innovation, our solution is and
will continue to be a leading, low cost and reliable way to extract
human metrics using a smartphone's camera. These metrics help end
users estimate what's coming next in their health to be picked up
first in our technology.
For these reasons, it is easy to be both excited and passionate
about AHI's technology. But it is also a deeply personal matter. I
have a vested interest in the Company's success being not only its
Cofounder, but also its largest shareholder. My goals are directly
aligned with yours.
Also, as a woman in technology I do not take this responsibility
lightly. I continue to mentor female graduates in the field of
STEM, bright and innovative thinkers who can not only add
significant value to innovation but a financial advantage to
companies. "More women in key decision-making positions delivers
better company performance, greater productivity and greater
profitability and can add market value of between $52m and $70m per
year for an average-sized organisation1".
Additionally, companies2 with one or more women on the
board delivered "higher average returns on equity, lower net
debt equity and better than average growth."
I believe I am uniquely positioned to continue the strategy and
improvements developed and executed under Vlado's leadership, which
- Reviewing AHI's strategy, goals and targets with a focus on
fundamentals, the most relevant of which is revenue. This includes
maturation of the Company's business processes, in line with the
Company's transition from a pre-revenue to high-growth
- Strengthening the leadership team's approach and strategy to
accelerate revenue growth.
- Ongoing review of the Company's corporate communication
- Improve productivity and internal processes by updating our
system architecture (i.e., naming conventions), accountability
(i.e., reporting procedures, pipeline updates), and management of
project delivery times.
Marketing & Customer Engagement
- Reviewing the value proposition of the technology.
- Conduct up-to-date market analysis and review pricing
- Targeted communication outreach to potential clients that align
with AHI's value proposition.
- Continued improvement to product value messaging and alignment
to our targeted client's needs.
- Target application developers who have existing clients that
match our target clients with the aim to include our scan
technology into their client offer.
- Review of customer selection strategies and due diligence
criteria, so that only appropriate customers are selected. This
will allow our team more time to secure revenue-producing customers
by reducing client onboarding time.
- Explore 'low-touch' customer strategies to expand customer base
and revenue options that can be more easily scaled.
- Improve business processes, particularly around customer
integration and customer interactions (i.e., Communication and
- Continued support of ongoing projects.
- Improvements to BodyScan capture and inspection process to aid
in overall user experience.
- Validation of extra measurements to expand product offering
- Roll out of AHI's Design system to give client's a set of
cross-platform standards and reusable components to assist with
- Expand flexibility of product to be more accessible via web as
well as mobile devices where appropriate.
- Improve customer integration processes to drive and expedite
Longer term objectives in tech include:
- Next-Gen Segmentation. A lighter and faster segmentation
model to support our objective or near-real time scan results.
- MultiScan SDK v22. A new-look SDK with a view to having
an LTS (Long Term Support version).
- BodyScan SDK v22. Mainly Android updates to align to the
modular nature of iOS.
Lastly, I must acknowledge the 'elephant in the room'. The
Company's low share price coupled with the additional challenges
faced in the markets are all concerns. So, while it is a very
exciting time for us at AHI, I am keenly aware that now is where
the team's most important work must continue.
But I must be candid: this process will take time. I do not want
to start my tenure by making promises of impossible-to-execute
quick fixes just to inflate your trust. What I can promise
is my undivided attention to our company, the company that you have
invested in not only in monetary terms, but with your trust and
faith. It is my job now to win your trust back with hard work and
Now is the time to focus and continue with the needed execution
which we anticipate resulting in growth in top line revenues, and
ultimately bottom-line profitability.
I look forward to leading our team as we continue to push
towards further adoption and gaining increased scale. Importantly,
I look forward to proactively communicating with you going forward,
keeping you apprised of our progress.
Dr Katherine Iscoe
CEO Advanced Human Imaging Limited
*This announcement has been approved by the board of Advanced
Human Imaging Limited.
About Advanced Human Imaging:
AHI has developed and patented a proprietary technology stack
that simplifies the collection of measurements across the human
form using only a smartphone. This allows end users to privately
and accurately check, track, and assess themselves in conjunction
with known health risk indicators.
AHI's multi-layered solution is made available to partners via
an embeddable Software Development Kit (SDK) allowing partners to
unlock a multitude of biometric markers through their smartphone
Our goal is to assist our partners by empowering their consumers
with this capability. This in return gives our partners the ability
to assess, assist, and communicate outcomes with their consumers
when navigating day to day life.
Our technology targets multiple industries, including mHealth,
Life & Health Insurance, Fitness, and Apparel.
Forward Looking Statements
This press release contains certain forward-looking statements,
including those relating to the regarding the use of proceeds and
other statements that are predictive in nature. Forward-looking
statements are based on the Company's current expectations and
assumptions. The Private Securities Litigation Reform Act of 1995
provides a safe-harbor for forward-looking statements. These
statements may be identified by the use of forward-looking
expressions, including, but not limited to, 'expect,' 'anticipate,'
'intend,' 'plan,' 'believe,' 'estimate,' 'potential,' 'predict,'
'project,' 'should,' 'would' and similar expressions and the
negatives of those terms. Prospective investors are cautioned not
to place undue reliance on such forward-looking statements, which
speak only as of the date of this presentation. The Company
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise. Important factors that could cause actual results to
differ materially from those in the forward-looking statements are
set forth in the Company's filings with the Securities and Exchange
Commission, including its registration statement on Form F-1, as
amended from time to time, under the caption 'Risk Factors.'
For more information please
For more information contact:
1 (Business Council of Australia, McKinsey & Company and the
Workplace Gender Equality
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SOURCE Advanced Human Imaging