Press release

Nanox Signs Agreement With Promedica Bioelectronics for the Deployment of 500 Nanox.ARC Units in Italy

0
Sponsored by Businesswire

NANO-X IMAGING LTD (www.nanox.vision) (“Nanox” or the “Company”), an innovative medical imaging technology company, announces it has entered into an exclusive distribution deal with Promedica Bioelectronics S.r.l. (“Promedica”), for the introduction of Nanox’s medical imaging services in Italy.

Promedica has over 30 years of experience in representing global imaging vendors such as FUJIFILM, SIEMENS MEDICAL SYSTEMS, GE HEALTHCARE and others, specializing in marketing and technical management of Diagnostic Imaging and Oncology Therapy-related equipment and services.

The agreement has an initial term of four years and is renewable for an additional term of three years with both parties’ mutual consent. Subject to receiving local regulatory approvals, and acceptance test clearance, the parties will collaborate on the deployment and operation of 500 Nanox Systems comprised of the Nanox.ARC and the Nanox.CLOUD. The parties aim to provide medical imaging services across Italy at affordable prices for communities of varying socio-economic status.

The Nanox System will offer a range of medical imaging services, from 2D X-ray to 3D Tomosynthesis computed tomography. Nanox will provide the Nanox Systems to Promedica for pilots in the public and private sectors. The services are planned to be operated on a pay-per-scan business model.

According to the agreement and subject to regulatory approval, Promedica will commit to a minimum annual service fee to Nanox guaranteed by a standby letter of credit in favor of Nanox.

“Italy has become a prime target for us after the COVID-19 pandemic,” says Ran Poliakine, Founder and Chief Executive Officer of Nanox. “The agreement with Promedica will enable us to help the Italian people in such eventualities with capabilities of high-volume screening across the country. We want medical imaging to become an obvious and available service such as water or electricity, readily accessible to all communities everywhere. The Promedica team has the experience and knowhow to help us realize this social agenda.”

“Nanox has a unique technology and business model,” says Leonardo Gorini, CEO of Promedica. “We are constantly seeking innovative technologies to improve the standard of care for the Italian people. To increase available systems for the general public use, there is a real chance to make preventive healthcare a reality via early-detection imaging services. We are happy to work with Nanox on such an ambitious project.”

About Nanox:

Nanox, founded by the serial entrepreneur Ran Poliakine, is an Israeli corporation that is developing a commercial-grade digital X-ray source designed to be used in real-world medical imaging applications. Nanox believes that its novel technology could significantly reduce the costs of medical imaging systems and plans to seek collaborations with world-leading healthcare organizations and companies to provide affordable, early detection imaging service for all. For more information, please visit www.nanox.vision.

About Promedica

PROMEDICA BIOELECTRONICS is an Italian company born in 1989, with over thirty years of experience in the field of marketing and technical management of high-technology equipment of Diagnostic Imaging and Oncology Therapy. In the past Promedica served as the local partner and distributor for a variety of international companies involved in General Imaging seeking expansion in the Italian market: Siemens, FujiFilm Medical Systems Healthcare, GE Healthcare. Since 2008 Exclusive Distributor at National Level for MRgFUS products developed by Insightec Ltd. Promedica achieve the largest Installed Base of MRgFUS equipments in the World.

For more information, please visit http://www.promedicasrl.eu/en/promedica.php.

Forward-Looking Statements

This press release may contain forward-looking statements that are subject to risks and uncertainties. All statements that are not historical facts contained in this press release are forward-looking statements. Such statements include, but are not limited to, any statements relating to the initiation, timing, progress and results of Nanox’s research and development, manufacturing and commercialization activities with respect to its X-ray source technology and the Nanox.Arc. In some cases, you can identify forward-looking statements by terminology such as “can,” “might,” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “should,” “could,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on information Nanox has when those statements are made or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause actual results to differ materially from those currently anticipated include: risks related to Nanox’s ability to develop [and produce a working prototype of the Nanox.Arc]; Nanox’s ability to successfully demonstrate the feasibility of its technology for commercial applications; Nanox’s expectations regarding the necessity of, timing of filing for, and receipt and maintenance of, regulatory clearances or approvals regarding its X-ray source technology and the Nanox.Arc from regulatory agencies worldwide and its ongoing compliance with applicable quality standards and regulatory requirements; Nanox’s ability to enter into and maintain commercially reasonable arrangements with third-party manufacturers and suppliers to manufacture the Nanox.Arc; the market acceptance of the Nanox.Arc and the proposed pay-per-scan business model; Nanox’s expectations regarding collaborations with third-parties and their potential benefits; and Nanox’s ability to conduct business globally, among others. Except as required by law, Nanox undertakes no obligation to update publicly any forward-looking statements after the date of this press release to conform these statements to actual results or to changes in Nanox’s expectations.