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Resonance Health signs deal to distribute artificial intelligence tool for diabetic retinopathy

The company's shares closed about 17% higher today, at 2.7 cents.
a human eye
Affecting 1 in 3 diabetics, diabetic retinopathy is a major complication of diabetes

Resonance Health Limited (ASX:RHT) has signed an agency agreement with TeleMedC to distribute an artificial intelligence (AI) based diabetic retinopathy (DR) grading tool.

The AI-based fully automated DR software system uses images of the eyes and clinical risk factors to provide a reading accuracy of over 92%.

These results are then reviewed by eye specialists to address the needs of those patients needing further care and treatment.

DR market is set to exceed US$11 billion by 2024

As the incidence of diabetes increases worldwide, the incidence of its complications including diabetic eye diseases is expected to rise.

Currently, an estimated 425 million people have diabetes worldwide.

Affecting 1 in 3 diabetics, DR is a major complication of diabetes which can lead to blindness if left untreated.

The DR market is set to exceed US$11 billion by 2024 according to a new research report by Global Market Insights.

Launching in Lebanon, Pakistan, and Bangladesh

Almost all vision impairment and blindness from DR can be prevented through effective diabetes management and screening programs.

Resonance Health in conjunction with TeleMedC is aiming to provide DR screenings for large populations via primary healthcare providers at an affordable price.

The company will commercialise first in Lebanon, Pakistan, and Bangladesh and is currently working with TeleMedC on gaining appropriate regulatory clearances.

 

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