Scheme document published for the £45.2 million recommended cash acquisition of Intelligent Ultrasound by Surgical Science
January 2025
Intelligent Ultrasound is an LSE AIM listed leading ‘classroom to clinic’ ultrasound company specialising in real-time hi-fidelity virtual reality simulation for the ultrasound training market and artificial intelligence-based clinical image analysis software tools for the diagnostic medical ultrasound market. Based in Cardiff in the UK and Atlanta in the US, the Group has two revenue streams:
Simulation – Real-time hi-fidelity ultrasound education and training through simulation. Their main products are the ScanTrainer obstetrics and gynaecology training simulator, the HeartWorks echocardiography training simulator, the BodyWorks Eve Point of Care and Emergency Medicine training simulator with Covid-19 module and the new BabyWorks Neonate and Paediatric training simulator. To date over 1,450 simulators have been sold to over 700 medical institutions around the world.
Clinical AI software – Deep learning-based algorithms to make ultrasound machines smarter and more accessible using our proprietary ScanNav ultrasound image analysis technology. Current products on the market utilising this technology are GE Healthcare’s SonoLyst software that is incorporated in their Voluson Expert 22 and SWIFT ultrasound machines; ScanNav Anatomy PNB that simplifies ultrasound image interpretation by providing the user with real-time AI-based anatomy highlighting for a range of ultrasound guided regional anesthesia procedures; and NeedleTrainer that teaches real-time ultrasound-guided needling and incorporates ScanNav Anatomy PNB.
Surgical Science is a Nasdaq First North Growth Market listed medical simulation company – with core competence around its proprietary software and hardware for the simulation of instrument/tissue interactions. Based on its own technology, turnkey simulators are developed, manufactured, and sold to teaching hospitals, clinics, and medical training centres. More than 8,000 systems have been delivered worldwide supported by more than 400 validation studies. In parallel with its own products, Surgical Science also provides medical technology companies with device-specific simulation solutions.
Surgical Science has successfully over the years acquired simulation companies Simbionix, Mimic Technologies, and SenseGraphics, to form a world-leading simulation company.
On 19 December 2024, the boards of Intelligent Ultrasound and Surgical Science announced that they had reached agreement on the terms of a recommended cash offer for the entire issued and to be issued share capital of Intelligent Ultrasound by Surgical Science.
Publication of the Scheme Document
The Perivan shareholder communications team was delighted to work with Memery Crystal who acted as legal adviser to Intelligent Ultrasound on the Scheme and associated ancillary documents, which were successfully published and posted to qualifying shareholders on 15 January 2025.
For more information, click here.
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