Diagnos (ADK.V) announced today that it has signed a 3-year contract with Cielo Vista Eye Clinic in Mexico. According to the contract, Diagnos will supply its CARA platform to Cielo. This will enable Cielo to screen its patients for diabetic macular edema and diabetic retinopathy.
“Our goal over the next 3 years is to assist Cielo in becoming the national reference for early detection of diabetes-related eye issues. We are excited to embark on this journey in which we will actively support our partner in its daily operations to detect and treat Diabetic Retinopathy and Macular Edema,” said Mr. Andre Larente, President of DIAGNOS.
For context, diabetic macular edema (DME) and diabetic retinopathy are complications associated with diabetes. In particular, DME occurs when excess fluid starts to build up in the macula of the eye. The macula refers to the portion of the eye at the center of the retina that processes sharp, clear, straight-ahead vision. Put simply, when excess fluid builds up in the macula, it causes vision problems, including blurry vision, washed out colors, and double vision. On the other hand, diabetic retinopathy occurs when there is too much sugar in the blood. As a result, small blood vessels throughout the body are damaged, including the retina. This can lead to a variety of symptoms such as blurred vision, dark or empty spots, and difficulty seeing well at night.
Cielo Vista Eye Clinic
With this in mind, Cielo is an ophthalmologic clinic located in the City of Jerez, State of Zacatecas, Mexico. Cielo specializes in comprehensive ophthalmic assessment, optometric services, treatment of eye diseases and microsurgeries. Currently, Cielo is using the Spanish version of Diagnos’ CARA platform to screen their at-risk clients such as diabetic patients. For more than 20 years, Cielo has been treating and serving over 16,000 patients and customers per year.
“At DIAGNOS it is our commitment to co-work with specialists and provide our AI platform to assist in identifying rapidly and accurately diverse pathologies that need to be treated or monitored. Diabetic Retinopathy is a symptomless disease that can lead to blindness if not treated in its early stages.” said Mr. Andre Larente, President of DIAGNOS.
However, through a pilot project Cielo has validated Diagnos’ technology and will shift to using the Company’s technology full-time, including CARA. Diagnos’ Computer Assisted Retina Analysis (CARA) is a tele-ophthalmology platform intended to make standard retinal images sharper, clearer, and easier to read. Moreover, CARA is a cost-effective tool for screening large numbers of patients in real-time. With this in mind, through Cielo, Diagnos will be serving a large demographic of patients at risk of DME and diabetic retinopathy in the global vision care market, which is expected to reach USD$192.85 billion by 2026.
Diagnos’ share price opened at $0.50, up from a previous close of $0.495. The Company’s shares are up 1.01% and were trading at $0.50 as of 9:33AM ET.
