Companies: MDST   

Boasting technologies that help hospitals speed up their cancer screening processes, MedicSight is looking to come to AIM with a £30 million June flotation.

The London-based venture’s technology reduces human error in the computer-aided detection (CAD) of potential anomalies in lung and colon CT scans. This, said MedicSight’s chief executive David Sumner, can increase the accuracy of a bog-standard radiographer’s 40 per cent success at spotting problems up to ‘90 per cent-plus, above the competency of an expert’.

Sumner stated that the technology speeds up the time it takes to analyse results ‘by roughly half’ and means hospitals can also employ ‘cheaper staff members and still get better results’. Such techniques have existed in the US in the areas of breast and lung examination but, believes Sumner, ‘the efficiency and accuracy of existing CAD is more hit and miss’.

Regulatory approval has only recently been granted in Europe and Canada for MedicSight, whose algorithms were originally developed for the military to locate tanks in the desert, and Sumner hopes to add China this year and Japan and the US ‘by the first quarter of next year’. He added that first sales are expected ‘within weeks’ and that talks are at a ‘late-stage’ with a CT scanner manufacturer.

Chaired by Scottish entrepreneur Tim Paterson-Brown, brother of Willy, who chairs AIM-listed wood-hardening group Accsys, MedicSight’s adviser and broker is Collins Stewart. A price has not yet been set for the fundraising, which is to provide funds to support clinical programmes and expand the product portfolio in-house or by acquisition.

Medicsight	AIM	£41.21m	26.50p	-0.75p
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