Echo IQ (ASX: EIQ) is set to broaden the deployment of its EchoSolv A.I. software across a U.S. network of hospitals and cardiology practices, securing a reseller agreement with SARC MedIQ. Echo IQ focuses on using artificial intelligence to improve the detection of heart disease. The company’s EchoSolv technology analyses echocardiographic data to assist in the diagnosis of aortic stenosis.
Under the agreement, EchoSolv will be used by over 1,500 physicians in more than 300 healthcare facilities and clinics within SARC’s network. The goal is to enhance the early detection of aortic stenosis, a type of valvular heart disease. Echo IQ is collaborating with SARC’s sales team to demonstrate EchoSolv AS’s applications and benefits, prior to its full integration into the group’s existing healthcare facilities.
Echo IQ’s technology offers rapid probability assessments for aortic stenosis by analysing uploaded echocardiographic measurements to track a patient’s condition over time. A clinical trial in April 2023 indicated that the software identified 72% more patients with severe cases than human diagnosis alone. The new agreement is expected to lower Echo Solv’s sales and distribution expenses, giving Echo IQ faster market access and scalability throughout the US, as well as the possibility of a reliable revenue stream.
Echo IQ will be compensated per scan and plans to renegotiate prices upon receiving the Category III CPT code from the American Medical Association. Echo IQ (US) president Don Fowler noted the agreement will advance the company’s US commercialisation strategy and represents a significant opportunity for third-party sales to generate consistent revenue at a lower cost. SARC MedIQ chief executive officer Asaad Hakeem added that EchoSolv aligns with their mission to provide physicians with smarter, faster tools for improved patient care, streamlining workflows and enhancing patient outcomes.
