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Promaxo Announces Sale of Fourteen Systems in the First Quarter 2023

Written by Customer Service on . Posted in Mergers And Acquisitions.

OAKLAND, Calif., April 04, 2023 (GLOBE NEWSWIRE) — Promaxo, Inc. (“Promaxo” or the “Company”), a medical imaging, robotics, and AI technology company, today announced the sale of fourteen systems in the first quarter ending March 31, 2023, up from eight systems sold in the fourth quarter of 2022. System sales were made through the Company’s various sales programs to physician practices, ambulatory surgery centers (ASC), and integrated delivery network (IDN) facilities.

In the first quarter, Promaxo also expanded its commercial footprint with initial system sales in Colorado, Kentucky, Nebraska, Nevada, and Wisconsin.

To date, Promaxo has sold a total of 40 systems across sixteen states since its commercial launch in the fourth quarter of 2021.

“We are very pleased to deliver another quarter of strong execution,” said Dr. Amit Vohra, Founder and CEO of Promaxo. “We started off the year with great momentum, with five system sales in January, which was maintained throughout the rest of the quarter. With increased traction, adoption, and expansion across our target markets, we are encouraged by the positive support we have seen from our growing network of clinicians. Further, with a little more than a year of commercial experience, we are excited to see increasing system usage from early system adopters. We continue to remain focused on growing our business and driving market penetration of our compact and adaptable system.”

Promaxo’s single-sided MRI with AI based imaging system, FDA cleared for in-office use, empowers practices and hospitals to accurately and seamlessly guide prostate interventions under the Promaxo MRI system.

About Promaxo, Inc.

Promaxo was founded by a team of entrepreneurs and healthcare innovators to develop a minimally-invasive and patient-centric MRI and robotic platform. Based in Oakland, California, and backed by over 200 patents, the Company’s mission is to improve lives through state-of-the-art medical imaging, robotics and AI capabilities. With a compact and adaptable MRI, Promaxo is redefining the standard of care by improving the quality and speed of patient diagnosis and interventions. The Company has formed numerous long-term and strategic partnerships with investor groups and corporation as it drives 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
Vivian Cervantes
e: IR@promaxo.com

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