Research done in China and the camera also looks legitimate
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Werenât we supposed to validate something there to get to business, eventually? Good stuff.
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And it seems that there is also demand for those eye cameras from other sources
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Aeye Health received an award, below you can find text about the company and the reason for winning:
https://www.163.com/dy/article/JMHG0H9V05340BZM.html
It is noteworthy that these awards were presented in China, or at least thatâs my understanding.
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So that not everyone has to translate from Chinese:
Reason for the win:
In July 2024, AEYE Health, a leading retinal imaging and diagnostics company, announced it had received FDA approval for its worldâs first fully automated AI system (AEYE-DS) for portable diabetic retinopathy screening. This is also the first fully automated AI system for ophthalmic screening ever approved by the FDA.
AEYE-DS is the only solution that can screen patients using only one image per eye with an imaging success rate of over 99%, which rarely requires pupil dilation, shortening the diagnostic screening process to one minute. The device combines fully autonomous AI with a portable, handheld device. It introduces a new, affordable screening solution that helps prevent blindness in the working-age population, which is easy to use and suitable for point-of-care screening and primary care.
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Oy Apotti Ab carried out a joint procurement for its client organizations, the City of Helsinki and the Vantaa and Kerava wellbeing services county, for oral healthcare imaging and archiving. Optomed was selected as the system supplier through a public tender process, and the contracts have now been signed.
Optomed has previously announced winning the tender in its Q3-2024 interim report.
The project will commence on January 23rd, and the goal is to have the system in use in Helsinki and the Vantaa and Kerava wellbeing services county by the end of 2025. Images produced by imaging devices will be stored centrally in the system, and the system will provide radiologists and dentists with viewing software for image interpretation. The delivered Sectra PACS will be integrated into the Epic system operating behind Apotti, as well as into the national archiving serviceâs image data archive. The implementation package includes, in addition to system integration and testing, implementation training for oral healthcare professionals.
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Wow! One can bill forever and large sums for the work of MUMPS consultants.
Now Opto hit a goldmine!
(this is humor, hopefully 
Actually, itâs great that Opto also has this business side; it will surely help understanding how AI screenings are integrated into functional healthcare systems as an efficient whole.
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The new contract will likely generate over 1M/year in high-margin revenue for an extended period, a good deal.
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Based on my own experience, Iâd say there wonât be that much continuous revenue. Of course, Helsinki is in a league of its own when it comes to wasteful spending, but I believe that for such a small software, limited to a couple of specialized areas, an operating and maintenance fee of over 1 euro per customer population in the area would be a lot.
During the development phase, change requests and integration can generate a good sum until project delivery, but continuous maintenance is certainly smaller.
Of course, one can never be entirely sure about pricing models, and hopefully, from a shareholderâs perspective, it will follow the traditional operating model of âwon cheaply, customer locked in, and additional billing starts before the project has even properly begunâ â which, as a taxpayer, is always nice to see.
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There has been much talk about Optomedâs market potential, e.g., in the United States and China. What about Europe? Has Optomed already properly expanded into the European markets? Does anyone have any information?
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From the Q3 report:
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And finally, the most important sentence from Opton/ AEYEâs perspective (+ naturally, ours as shareholders);
Vitazi-DR is currently not FDA approved and is not available for sale within the US.
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The picture features a Topcon desktop camera, but I do believe that the pilot that started in June 2024 was done with an Opto handheld camera 
Thoughts?
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Would it help that itâs about primary care and includes AI + a sub-60-second test & doesnât require âtrainedâ staff? Itâs unlikely that desktops have been purchased, and then the options narrow down to quite few, if not just one?
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What caught my eye were the discussions about removing barriers to access and transport, and the mention of hard-to-reach patients. Of course, it could refer to other things as well, but I hope we are talking about the benefits of a handheld camera, and the start of the pilot would fit quite well.
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- AEYE-Ai already in use via Topconâs desktop camera
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It seems to be Eyenukâs Eyeart. But itâs positive that the use of AI is progressing rapidly. At some point, patients will also start choosing a clinic where they can get screening results immediately.
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I might have gotten a bit too excited for Friday. My apologies.
Donât you see a possibility that they have Topcon and Canon EyeArt combinations in use and there would have been a pilot for a handheld camera as well?