AIRS Medical Inc., a leading provider of AI-powered healthcare solutions, has announced a strategic partnership agreement with ParagonCare Limited (ASX: PGC), a premier provider of healthcare technology, devices, software, and consumables in Australia, New Zealand, and across Asia. This partnership allows AIRS Medical to leverage ParagonCare's extensive distribution network and sales process, significantly boosting the sales of its flagship product, SwiftMR™, in Australia.

SwiftMR™ enhances MRI image quality through advanced deep learning technology. It can reduce MRI scan times by up to 50%, while simultaneously enhancing image quality using AI-powered denoising and sharpening techniques. FDA-510(k)-cleared, SwiftMR™ is compatible with all body parts, pulse sequences, and MRI scanners of 3.0T or lower, from all manufacturers*. It also improves MRI productivity without requiring changes to the conventional workflow or the purchase of new MRI scanners.

*Supported body parts, pulse sequences, and field strength may vary by county.

This partnership strategically positions AIRS Medical to accelerate the market entry of SwiftMR™ across the entire Australia and New Zealand region, utilizing local sales teams and a dedicated customer support infrastructure. SwiftMR™, success is attributed to its ability to provide tailored services that are locally adapted. Currently, SwiftMR™ has expanded into over 15 countries, accumulated over 1.1 million processed exams in more than 300 institutions.

In 2024, ParagonCare plans to intensify its focus on the AI sector, presenting a significant challenge to the healthcare AI market through its collaboration with AIRS Medical. This strategic partnership marks a major advancement in healthcare technology, highlighting both companies' commitment to delivering improved patient experiences and streamlined workflows.

Hyeseong Lee, CEO of AIRS Medical, stated, "We are excited about our strategic partnership with ParagonCare. The combined efforts of both companies will not only accelerate our collective growth but also strengthen our business capabilities in the ANZ region. We anticipate that this agreement, capitalizing on ParagonCare's expertise and capabilities, will enhance various aspects of our joint operations in the Australian market for SwiftMR™."

Tiffany Chiew, General Manager Service, Technology and Innovation at ParagonCare, remarked, "We are committed to facilitating AIRS Medical's expansion into Australia, New Zealand, Asia, and beyond. This venture with AIRS Medical merges innovation with our dedication to healthcare excellence."