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Viatronix Incorporated (Private) |
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June 18, 2012 Issue |
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The Most Powerful Name In Corporate News and Information |
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CURRENT ISSUE | COVER ARCHIVES | INDEX | CONTACT | FINANCIALS | SERVICES | HOME PAGE |
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Viatronix Incorporated is a Leading Innovator and Developer of 2D/3D Medical Imaging and Diagnostic Software Through the Application of its V3D® Technology |
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Viatronix is a leading innovator and developer of 2D/3D medical imaging and diagnostic software. The software enables physicians to interactively view vital organs and anatomical structures within the human body from data acquired by standard medical imaging equipment in minimally or non-invasive methods. Viatronix's user interface is well known for ease of use, efficient workflow and intuitive diagnostic tools.
Viatronix, through application of its V3D® technology is developing additional innovative products that will be useful in early detection of other diseases, treatment planning, intervention, and follow-up evaluation. |
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Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published - June 18, 2012
Mr. Hayat: Viatronix was started in early 2000. It is a software development company focusing in the area of 2D and 3D medical imaging. We essentially take 2D medical images such as CTs, MRs and others then use intuitive algorithms to create 3D models that allow the physician to diagnose various anomalies within the human body. We are best known for our leading edge virtual colonoscopy module, which is a non-invasive way of screening for colorectal cancer.
CEOCFO: Is this technology unique to Viatronix, or are there other forms out there today as well? Mr. Hayat: There are a few other competitors in the market. However, our V3D-Colon module is unique in the way we process the data from 2D to 3D, correlate the data and we have developed certain unique diagnostic tools that help the physicians in making their diagnosis.
CEOCFO: What is an example of what your software is able to accomplish that others can not? Mr. Hayat: One of the best examples I can give you is also posted on our website. You will see a host of clinical trials, independent peer reviewed and published in medical journals done exclusively on the Viatronix platform. Since 2003 you would see the results, where for example, our Virtual Colonoscopy product showed a sensitivity of 93.9% for polyps of a certain size. To the best of my knowledge, even today, nobody in the industry has matched that level of sensitivity and specificity in a large-scale clinical trial. Secondly, our user interface is recognized as the most user-friendly of any system on the market. The read times for a study is less than 10-minutes on our system versus 20 to 40 minutes on some of the competitive systems. This makes us stand apart from the others. Most importantly, about two years ago our software was used for performing the same screening exam – virtual colonoscopy, for President Obama during his annual physical.
CEOCFO: What is it in the technology that allows you that high level of accuracy? What have you figured out? Mr. Hayat: Some of the technologies we use are proprietary to us and others are licensed. Back in 2000, when our company started developing new techniques from the ground up, we were looking at medical imaging from a 3D perspective. Others in the market took more of a 2D approach and added some 3D functionality. We started with a concept of 3D and moved forward with it. There have been multiple clinical trials, and whenever our product has been used exclusively, it has been shown to have the highest sensitivities because of the unique way we have used the 3D aspect of imaging
CEOCFO:
What are some of the areas in addition to colonoscopy that you are working
with and what might you be working on in the future? CEOCFO: Is the medical community eager for 3D, or is it just that they are happy to know it exists? Are they looking for better ways?
Mr. Hayat:
This field has evolved over the last ten years or so. It is growing not only
in the US but worldwide, and the reason behind it is two-fold. As you know,
healthcare costs have gone up not just for our economy, but for other
developing economies as well. People are looking for low-cost but efficient
methods for diagnosis of medical problems. The 3D imaging technology is low
cost and offers a high level of accuracy. The medical community is adopting
3D imaging on a global basis. For example, traditional colorectal cancer
screening is done by gastroenterologists. Getting radiologists involved and
getting through some of the turf battles was one obstacle. I am sure there
will be a few more, but the reality is that this life-saving technology,
saves money and offers a high degree of accuracy. To give you a compelling
reason for the adoption of this technology, every year in the U.S.
approximately 150,000 new cases of colorectal cancer are diagnosed. You have
between 50-55 thousand Americans dying from colorectal cancer each year.
Now, here is the most astonishing fact, colorectal cancer is more than 90%
preventable through early screening starting at age 50 or for people with
family history at a younger age as recommended by their family physician.
The reality is that more than 50% of the people are not getting screened.
They do not like sedation, they do not like the invasiveness of the
traditional optical colonoscopy and therefore stay away from being screened.
By offering a virtual colonoscopy alternative, we are providing a low cost
and efficient alternative that is well accepted by patients. CEOCFO: Who is using your products today? Mr. Hayat: Primarily hospitals and imaging centers. We are one of the few in the field amongst our competitors, who offer software only solutions to physicians. The software works pretty much with any brand of CT. There are government hospitals, VA hospitals, private, not-for-profit, research institutions and imaging centers using it.
CEOCFO: How do you reach potential new customers, and do the people that should know about your company know about you, or is it still an educational process? Mr. Hayat: I would say both to be perfectly honest. When I mean both, what we have found out in the market is that 3D is a growing technology, and it is gaining ground every day. It has been a learning curve for the medical community but they are now embracing it. Our Company started offering courses in 3D Imaging and invited leading authors in this subject to lead those courses. At the present time we work with The American College of Radiology, The University of Toronto, and other medical institutions like these in setting up workshops. The other way people are finding out about our company is through clinical trials. One thing we focus very highly on is working closely with physicians and delivering them solutions that fit well within their workflow.
CEOCFO: Are the insurance providers on board now? Mr. Hayat: Several years ago the American Cancer Society (ACS) endorsed virtual colonoscopy as a front line screening program. At the present time, commercial insurance providers in 30 states are providing reimbursement for virtual colonoscopy.
CEOCFO: What is ahead for Viatronix?
Mr. Hayat:
At the present time, our focus is not only on product development, but
international growth. Though Medicare reimbursement efforts for screening
virtual colonoscopy are moving in the positive direction, what we are
finding is that globally there is a lot of growth in medical imaging, and
people are very attune to technology because it is easy to implement. Our
products do not need any major medical equipment to be installed, it is
software that works with existing CT scanners and on existing PC platforms.
We are looking to grow globally. CEOCFO: Why should investors look at Viatronix today?
Mr. Hayat:
Several different reasons. For starters, we have more than proven our
technology in this field. All of our competitors combined do not have half
as many clinical trials as we have under our belt in the field of virtual
colonoscopy. I think that speaks for itself. We are one of the smallest
privately held companies in the medical imaging field with tremendous growth
potential. We have five FDA 510k – cleared software modules. They also carry
the CE-Mark. We intend to add more organ specific modules as we move
forward. We are looking at tremendous growth potential over the next few
years. |
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“Viatronix is a leading innovator and developer of 2D/3D medical imaging and diagnostic software.” - Zaffar Hayat |
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