Promaxo Announces Six System Sales in the Third Quarter

OAKLAND, Calif., Oct. 04, 2022 (GLOBE NEWSWIRE) — Promaxo, Inc. (“Promaxo” or the “Company”), a medical imaging, robotics, and AI technology company, today announced the sale of six systems in the United States in the third quarter ending September 30, 2022. The system sales included both operating lease and revenue share agreements with physician practices in Florida, New Jersey, and Texas. Promaxo’s single-sided MRI with AI based imaging system, FDA cleared for in-office use, empowers practices and hospitals to accurately and seamlessly guide prostate interventions under the Promaxo MRI system.

In the third quarter, North Florida Urology Associates in Gainesville, FL, Avant Concierge Urology in Winter Garden, FL, Urology Center of Winter Park in Winter Park, FL, Sovereign Health System in Jersey City, NJ, Jersey Urology Group in Somers Point, NJ, and Urology America MSO in Austin, TX entered into agreements with Promaxo.

Dr. Sijo Parekattil, Director of Avant Concierge Urology and Associate Professor of Urology at the University of Central Florida said, “Given our focus on leveraging the latest technologies, robotics and microsurgery in our urology practice, incorporating the Promaxo MRI system into our programs was a natural and synergistic next step. Coupled with the flexibility of commercial partnership programs offered by Promaxo, we are impressed with the ease at which we place the system in our office and with how quickly we begin to provide Promaxo MRI procedures to our patients.”

“With focused market penetration activities, we are pleased to add six new physician practices to Promaxo’s growing clinical network in the United States, maintaining our growth momentum through the third quarter 2022,” said Dr. Amit Vohra, Founder and CEO of Promaxo. “We are committed to making MRIs more accessible for interventions, as we continue to partner with physician offices through our flexible sales and financing programs.”

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