Volpara Health Technologies (ASX:VHT) has sold its interest in Precision Medical Ventures (d/b/a RevealDX), an early-stage software company working toward FDA clearance for its lung nodule diagnosis product.
The company’s decision to divest its interest in RevealDX reflects its commitment to focus on driving to profitability. Building on the strategy update from July 2022 and subsequent market announcements, Volpara is directing its resources into advancing its core mammography capabilities and expanding the reach of its Risk Pathways product. These focused efforts on breast and risk are directed at the high-revenue markets of the U.S. and Australia, and pursuit of high- margin business development opportunities.
Ultimately our focus is on investments in growth areas that provide clearer synergies with our existing products. We wish the team at RevealDx well,” Volpara CEO and Managing Director Teri Thomas said.
Volpara invested US$250,000 in the form of a convertible note carrying 4% interest in RevealDX in September 2021 as previously announced. Volpara will receive its investment back with interest in the total amount of US$270,000.
Volpara Health makes software to save families from cancer. We help leading healthcare providers have a positive impact on communities around the world. They use Volpara solutions to better understand cancer risk, empower patients in personal care decisions, and guide recommendations about additional imaging, genetic testing, and other interventions.