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Analyst Comment

Aiforia wins new clinical segment client in Turkey

Aiforia Technologies

Translation: Original published in Finnish on 12/2/2024 at 4:24 pm EET.

According to a press release, Memorial Hospitals Group in Turkey has selected Aiforia as its partner for AI-assisted clinical diagnostics in pathology. Memorial Hospitals Group is the largest private hospital group in Turkey, serving 75,000 patients annually in 11 hospitals. The collaboration will utilize Aiforia's regulatory-approved clinical AI solutions to analyze biopsies from breast, prostate and lung cancer patients at the Memorial Pathology Center laboratory.

According to the press release, Memorial Pathology is the first pathology laboratory in Turkey with a fully digital workflow and all biopsy samples are digitalized. This phase is required to implement Aiforia's image analysis solutions and is often time-consuming, but with a fully digital setting, the customer could start generating revenue for Aiforia as early as the beginning of 2025. We have included new deals in our forecasts and have been waiting for the company to announce them, so this release does not come as a surprise or put immediate pressure on our forecasts. Of course, the announcement supports our forecasts and is another sign that Aiforia's solution is competitive in the market and that the market development in Europe will continue.

Aiforia Technologies equips pathologists and researchers in preclinical and clinical laboratories with software to translate images into discoveries, decisions and diagnoses. The company's products and services are used for medical image analysis, across a variety of fields such as oncology and neuroscience. Aiforia Technologies is headquartered in Finland.

Read more on company page

Key Estimate Figures02.10.2024

202324e25e
Revenue2.43.45.8
growth-%49.3 %41.2 %71.1 %
EBIT (adj.)-12.9-12.1-11.8
EBIT-% (adj.)-537.1 %-358.4 %-204.4 %
EPS (adj.)-0.50-0.42-0.41
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.neg.neg.
EV/EBITDAneg.neg.neg.

Forum discussions

Imaging in this context refers to radiology, so the ambiguity you mentioned does not exist. Aiforia’s solutions are for clinical pathology and...
11 minutes ago
by Nikkoton
0
That pathology field covers a lot of ground, and I suppose it’s about interpreting all kinds of samples digitally using AI, whether we’re talking...
45 minutes ago
by Salvelinus
0
Of course, it’s worth remembering here that Aiforia’s solution is for pathology and not for imaging.
59 minutes ago
by Nikkoton
0
I’ve been checking the Siemens Healthineers website to see if there are any mentions. It seems like there are big medical events happening right...
1 hour ago
by Salvelinus
1
Without taking a position on the analysis itself, Nuways has a “buy” recommendation for almost every client, “under review” for a few, and a...
13 hours ago
by Verneri Pulkkinen
25
Pre-results update. Despite the share price, target €3.80 & Buy Summary: We remain upbeat on Aiforia’s Foundation Engine and its clinical and...
14 hours ago
by Opa
16
It is certainly possible that deals have also been made below the disclosure threshold. I believe there were a few such deals in H1 as well....
21 hours ago
by Jekkku
5
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