Diagnos Inc.
TSX VENTURE : ADK

Diagnos Inc.

February 24, 2011 12:53 ET

DIAGNOS Announces New CARA Distribution Agreement in South China

BROSSARD, QUEBEC, CANADA--(Marketwire - Feb. 24, 2011) - DIAGNOS inc. ("DIAGNOS" or "the Corporation") (TSX VENTURE:ADK), a leader in the use of artificial intelligence and advanced knowledge-extraction techniques, announces that Leahander Trading Limited, a Guangdong based distributing company, has entered into an exclusive distribution agreement with DIAGNOS for the commercialization of CARA (Computer Assisted Retinal Analysis) in the province of Guangdong (Canton). This signature was possible with the assistance of Canamexport with whom the Corporation has a strategic partnership in international development.

The CARA suite of applications allows the different players in the diabetic retinopathy screening process to make better informed decisions and extend cost-effective care to a larger patient population. "Our global market penetration strategy is to address countries with a high diabetes rate, China being one of those markets", said André Larente, President and CEO of DIAGNOS.

"Leahander's head of business development, Mr. Matthew Wong, is a dual Canadian and Chinese citizen and sees the opportunity of bringing CARA into the Chinese health care system. During a recent trip to Canada, Mr. Wong was impressed with the simplicity of the CARA platform and DIAGNOS' healthcare business model. Leahander believes that this technology can have a positive impact on the healthcare system in China preventing complications of diabetes and ultimately saving patients' sight", said Peter Nowacki, DIAGNOS' Vice-President - Healthcare.

Studies suggest that China could already have a diabetes rate of 10% of its population with a large growth due to the consumption of fast food in urban areas of the country. According to a recent study published in the March 2010 edition of the New England Journal of Medicine, the number of adults with diabetes and prediabetes in China is 92 million and 148 million respectively. It is expected that without intervention by 2030 the global prevalence of diabetes can reach 500 million people at a projected cost of more than $490 billion for the global economy.

About CARA

CARA is a tele-ophthalmology platform that integrates with existing equipment (hardware and software) and processes at the point of care (POC) and comprises: image upload, image enhancement automated pre-screening, grading by a specialist, and referral to a specialist. CARA's image enhancement algorithms make standard retinal images sharper, clearer, and easier to read. CARA is accessible securely over the internet, and is compatible with all recognized image formats and brands of fundus cameras. CARA is a cost-effective tool for processing large numbers of images, in real-time and has been issued a licence by Health Canada for commercialization in Canada.

About DIAGNOS

Founded in 1998, DIAGNOS is a publicly traded Canadian corporation with a mission to commercialize technologies combining contextual imaging and traditional data mining thereby improving decision making processes. DIAGNOS offers products, services, and solutions to clients in a variety of fields including natural resources, healthcare, and entertainment.

For further information, please visit our website at www.diagnos.com or the SEDAR website at www.sedar.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • DIAGNOS Inc.
    Andre Larente
    President and CEO
    1-877-678-8882 or 450-678-8882, ext.: 224
    alarente@diagnos.com