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Profound Medical and RadNet Sign the First-Ever U.S. Multi-Center Commercial Agreement for TULSA-PRO®

Key Takeaway: Profound Medical Corp. has signed a groundbreaking multi-center commercial agreement with RadNet, marking the first of its kind in the U.S. for its TULSA-PRO® system. This partnership aims to expand the availability of Profound's innovative, incision-free therapies that utilize real-time MRI and thermal ultrasound for tissue ablation. The collaboration is expected to enhance patient access to advanced imaging services.
Price reaction · baseline $8.5 (2024-02-16 close) · 19 other PROF headline(s) in the window, move may be shared
day 0 close · peak
-2.7%

Market Sentiment Analysis

POSITIVE FACTORS

  • First-ever multi-center commercial agreement in the U.S.
  • Collaboration with RadNet enhances market reach.
  • Innovative technology for incision-free therapies.

Full Press Release Details

TORONTO, Jan. 10, 2020 (GLOBE NEWSWIRE) — Profound Medical Corp. (TSX:PRN; NASDAQ:PROF) (“Profound” or the “Company”), a commercial-stage medical device company focused on customizable, incision-free therapies which combine real-time Magnetic Resonance Imaging (“MRI”), thermal ultrasound and closed-loop temperature feedback control for the radiation-free ablation of diseased tissue, today announced the signing of its first-ever U.S. multi-site imaging center agreement for TULSA-PRO® with RadNet, Inc. (NASDAQ:RDNT), a national leader in providing high-quality, cost-effective, fixed-site outpatient diagnostic imaging services through a network of 340 owned and/or operated outpatient imaging centers.

Frequently Asked Questions

What is the TULSA-PRO® system?

The TULSA-PRO® system is an incision-free therapy that combines MRI, thermal ultrasound, and temperature control for tissue ablation.

Who is RadNet, Inc.?

RadNet, Inc. is a national leader in outpatient diagnostic imaging services, operating a network of 340 imaging centers.

What does the agreement with RadNet entail?

The agreement allows for the first-ever U.S. multi-center commercial use of the TULSA-PRO® system across RadNet's imaging centers.

When was the agreement announced?

The agreement was announced on January 10, 2020.

Last updated: Feb 19, 2024