DIAGNOS Enters into an Exclusive Distribution Agreement to Access Massive Global Healthcare Market in DACH Countries and Cent...
06 April 2021 - 11:05PM
Diagnos Inc. (“DIAGNOS” or the “Corporation”) (TSX Venture: ADK)
(OTCQB: DGNOF) (FRA: 4D4A), a leader in early detection of critical
health issues through the use of its FLAIRE platform based on
Artificial Intelligence (AI), announces today the signing of an
exclusive distribution agreement with Diagnos Europe GmbH (“Diagnos
Europe”), a new partner for DIAGNOS to tackle the strategically
important DACH countries in the European market (Germany, Austria,
Switzerland) and the surrounding countries Poland, Luxembourg and
Liechtenstein in order to prepare a successful market entry for the
Company’s products and services in Central Europe, a crucial
territory for DIAGNOS with a significant market potential in access
of more than 140 million people.
DACH is an abbreviation and D stands for
Deutschland (Germany), A, Austria, and CH, Confoederatio Helvetica,
(Switzerland). Therefore, it refers to the mostly German-speaking
center of Europe. The DACH economy is one of the most stable
in the entire world since the end of World War II and it is by far
the largest and most promising market for IT and AI in Europe.
Diagnos Europe is fully specialized on go-to-market strategies and
services in the DACH countries and have developed for DIAGNOS a
variety of market entry strategies offering the Company a practical
and effective launch pad into the DACH market.
Just as the DACH region has become established
as Europe’s most important region for the optical market, DIAGNOS
will be benefiting from the forthcoming market entry developments
and has in addition that long tapping into European potential. The
German market, in particular, plays a leading role in the optical
industry and thus also for the Company and Diagnos Europe in terms
of preparing the implementation of specific sales activities.
Alongside the French market, which DIAGNOS is also targeting at the
same time, the German-speaking market is the most important in
Europe and also the most interesting for the company as a result of
its stable growth rates over the past several years. For 2019, the
German optical industry was able to record its most successful
financial year in a decade, far outperforming other European
markets (total sales compared to 2018 were up by 5.4% at EUR 4.7
billion; 2019 thus exceeding all expectations and a continuation of
the growth trend that has persisted since 2011. Opticians and
optometrists have continuously been able to look forward to a
further increase in turnover, which rose to almost EUR 6.5 billion
in 2019 and even more in 2020).
The healthcare systems in the DACH region are
among the best in the world. In Switzerland, in particular, the
Healthcare Professions Act (Gesundheitsberufegesetz), which came
into force at the start of the year, has placed the industry in a
more important position in terms of healthcare. Optometric
services, screenings and preventative eye health play an
increasingly important role as well in the markets of Germany and
Austria, which are similar despite the difference in size.
Demographic changes and people’s growing responsibility for their
own health indicates that the positive forecasts for the future,
which were made before the corona crisis, should continue to hold
true, which is certainly a clear market potential for DIAGNOS in
the DACH region.
For example, a large majority of patients with
diabetes who develop diabetic retinopathy have no symptoms until
damage to their vision is irreversible. While annual ophthalmic
screening is recommended for all those with diabetes, even in the
developed world, typically less than half get screened. The number
of diabetics in the DACH countries is evaluated at over 10 million
in a total population of 140 million people. Adding to this is the
limited number of ophthalmologists, healthcare providers with a
retinal (fundus) camera, and a historical delay in ophthalmologist
appointments for screening or remote image reading.
“Our goal is to launch our concerted European
sales efforts in the DACH region (Germany, Austria and
Switzerland), plus Poland, Liechtenstein and Luxembourg in the
heart of Central Europe. DIAGNOS’ extensive network in these
countries, combined with the Company’s AI technology, provides the
opportunity to access and serve a significant number of European
patients with high levels of risk of losing their vision due to
diabetes. There is an immediate need for DIAGNOS’ AI technology to
address the huge backlog generated by the pandemic”, said
Mr. André Larente, CEO of DIAGNOS.
“We understand the demand for early detection
and treatment of the disease and the economics this represents in
our market. Without a doubt, we’ll accomplish the goal to enable
DIAGNOS to access the specialists and patients in need by laying
the foundation for DIAGNOS’ European market entry”, added
Mr. Rolf Kaewel, Managing Director of Diagnos
Europe.
“DIAGNOS complies with the highest standards in
terms of delivering precision results and in real-time, so the
referral of patients is done effectively. Our AI technology
enhances the experience of the patient and our indications shows
that at least 9% of referrals will be sent to the specialists so
they can be treated properly,” added Mr. Larente. “Europe is the
region in the world with the largest population of diabetes between
ages 0-14, and 20-79 and at least 75% live in urban areas where the
prevalence is at least 12% or more creating a huge market potential
for DIAGNOS”, concluded Mr. Larente.
About DIAGNOS:DIAGNOS is a publicly traded
Canadian corporation dedicated to early detection of critical
health problems based on its FLAIRE Artificial Intelligence (AI)
platform. FLAIRE allows for quick modifying and developing of
applications such as CARA (Computer Assisted Retina Analysis).
CARA’s AI-based image enhancement algorithms provide sharper,
clearer and easier-to-analyze retinal images. CARA is a
cost-effective tool for real-time screening of large volumes of
patients. CARA has been cleared for commercialization by the
following regulators: Health Canada, the FDA (USA), CE (Europe),
COFEPRIS (Mexico) and Saudi FDA (Saudi Arabia).
Additional information is available at
www.diagnos.com and www.sedar.com
This news release contains forward-looking
information. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in these
statements. DIAGNOS disclaims any intention or obligation to
publicly update or revise any forward-looking information, whether
as a result of new information, future events or otherwise. The
forward-looking information contained in this news release is
expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
For further information, please contact:
Mr. André Larente, President
DIAGNOS Inc.
Tel: +1-450-678-8882 ext. 224
Email: alarente@diagnos.ca
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