EMVision Medical Devices Limited (ASX:EMV) has secured a strategic $15.28 million investment via a placement to Keysight Technologies Inc - a long standing technology collaborator of the company.
Following the Placement, which is expected to complete in the next two days, Keysight will be a substantial shareholder of the company with a holding of 8.73%.
Keysight is a technology company headquartered in California, with a market capitalisation of approximately US$26 billion. As a recognised global leader in radiofrequency test and measurement technology, Keysight serves diverse sectors such as 5G/6G communications, aerospace, defence, and automotive.
The placement represents Keysight's first major investment in enabling innovation in the global medical device manufacturing and imaging sector, demonstrating its belief in the clinical and commercial value that can be delivered by EMVision's innovative neuroimaging technology.
EMVision’s portable brain-scanning technology seeks to improve stroke and other neurological disorder diagnosis and treatment outcomes through the introduction of a new imaging modality at the point of care, using innovative, ultra-high frequency radio signals.
Keysight’s offerings include a portfolio of Vector Network Analyzers (VNA), core to the sensors in EMVision's portable brain scanner - effectively acting as the central "brain" of the technology. In April 2019, EMVision and Keysight signed a Memorandum of Understanding to collaborate on a new generation of VNAs for the healthcare market. This collaboration resulted in the development of a miniaturised and high-performance VNA which power EMVision’s emuTM device.
EMVision and Keysight also recently jointly showcased the emuTM device at Radiological Society of North America (RSNA) 2023 in November, the world’s premier medical imaging conference, generating significant clinical and industry interest throughout the event.
“We are delighted to welcome Keysight as a major strategic investor, building on our long-term relationship and successful joint showcase at RSNA 2023. Keysight is a significant player in the VNA space globally and a highly respected leader in test and measurement solutions. As such, it is a major endorsement of our technology and innovation to have their backing,” EMVision CEO and MD, Scott Kirkland, said.
“This investment reflects Keysight’s increasing commitment to helping drive breakthroughs in digital healthcare and emerging point-of-care imaging. It further supports our vision to revolutionise stroke diagnosis and monitoring in a multi-billion-dollar market and allows us to do so more quickly through expanded trials and data inputs. It will also raise our profile in the US, our key target market, providing future growth and commercial opportunities.”