Promaxo Announces Six System Sales in Q3 2022 | New

OAKLAND, Calif., Oct. 04, 2022 (GLOBE NEWSWIRE) — Promaxo, Inc. (“Promaxo” or the “Company”), a medical imaging, robotics and AI technology company, today announced the sale of six systems in the United States during the third quarter ending September 30, 2022. System sales included both operating leases and revenue sharing agreements with medical practices in Florida, New Jersey and Texas. Promaxo’s unilateral MRI with AI-based imaging system, FDA cleared for office use, enables practices and hospitals to accurately and seamlessly guide prostate procedures within the Promaxo MRI system.

In the third quarter, North Florida Urology Associates in Gainesville, FL, Avant Concierge Urology in Winter Garden, FL, Urology Center of Winter Park in Winter Park, FL, Sovereign Health System in Jersey City, NJ, Jersey Urology Group in Somers Point, NJ and Urology America MSO in Austin, TX have entered into agreements with Promaxo.

Dr. Sijo Parekattil, director of Avant Concierge Urology and associate professor of urology at the University of Central Florida, said: A natural and synergistic next step. Coupled with the flexibility of the business partner programs offered by Promaxo, we are impressed with how easily we place the system in our practice and how quickly we are beginning to deliver Promaxo MRI procedures to our patients.

“With targeted market penetration activities, we are excited to add six new medical practices to Promaxo’s growing clinical network in the United States, maintaining our growth momentum through the third quarter of 2022,” said the Dr. Amit Vohra, Founder and CEO of Promaxo. “We are committed to making MRIs more accessible for procedures, as we continue to partner with physician practices through our flexible sales and financing programs.”

About the Sovereign Health System

Sovereign Health System is a multi-specialty community health system, with primary and specialist medical care provided by Sovereign Health Medical Group physicians, in addition to outpatient care provided by Sovereign Health Urgent Care, Sovereign Health Cancer Care and Sovereign Health SurgiCare. Sovereign Health Medical Group has ten urology practice centers in New Jersey.

About North Florida Urology Associates

North Florida Urology Associates is a medical practice with clinics in Ocala, Gainesville, and The Villages, Florida. With a focus on promoting men’s health for over 36 years, the practice has raised awareness and led its field in the treatment of conditions such as prostate cancer, erectile dysfunction and kidney stones by drawing advantage of cutting-edge technologies. The practice uses technologies such as HIFU, ErosWave, cryosurgery, shockwave therapy and stem cell therapy to meet and treat the needs of their patients.

About Avant Concierge Urologie

Avant Concierge Urology is a Central Florida urology practice specializing in the treatment of conditions related to the kidneys, bladder, adrenals, urethra, and male reproductive organs. Avant offers best-in-class personalized surgical treatment options with the goal of minimizing downtime, scarring and expense. With a focus on offering the latest technology, including digital microsurgery, Avant is the first and only in-office operator of the Karl STORZ 3D Vitom Digital Microsurgery System in the United States, providing patients with a surgical solution from first order allowing better accuracy and reduced recovery time.

About Jersey Urology Group

Jersey Urology Group is a comprehensive urology practice in Southern New Jersey, with a team of New Jersey’s leading urology physicians providing patients with cutting-edge technologies and innovative therapies for the treatment of all urological conditions. Urology services include the treatment of kidney stones, prostate problems, infertility, and other complex urological issues.

About the Winter Park Urology Center

The Winter Park Urology Center, located in Central Florida in Winter Park, uses state-of-the-art, minimally invasive urological procedures for the diagnosis and treatment of all types of urological problems. The practice provides dedicated medical solutions for all aspects of urological care with the latest minimal and non-invasive techniques to reduce pain and speed recovery. Services include Urology, Urological Surgery and Urological Oncology.

About Urology America MSO

Urology America is a premier national urology platform founded in central Texas by physicians from Urology Austin and Gauge Capital. Urology America’s mission is to build a platform that provides unparalleled support to providers and the care team, to deliver exceptional and comprehensive urology care, with compassion and service that exceeds expectations. Urology America is built with a focus on achieving returns through innovation and revenue growth. This involves leveraging collective expertise and experience to develop new services where appropriate.

About Promaxo, Inc.

Promaxo was founded by a team of healthcare entrepreneurs and innovators to develop a minimally invasive, patient-centric MRI and robotics platform. Based in Oakland, Calif., and backed by more than 200 patents, the company’s mission is to improve lives through cutting-edge medical imaging, robotics and AI capabilities. With a compact and adaptable MRI, Promaxo redefines the standard of care by improving the quality and speed of diagnosis and patient interventions. The company has formed many long-term strategic partnerships with investor groups and corporations in the commercialization of the Promaxo MRI system.

To learn more about the technology behind the MRI system and its scope, please visit: Promaxo.com.

LinkedIn: Promaxo

Twitter: @Promaxo

Facebook: Promaxo

Investors

Gilmartin Group

Viviane Cervantes

e: [email protected]

Sallie R. Loera