NEW YORK, April 10 /PRNewswire-FirstCall/ -- Medicsight PLC, a subsidiary of MGT Capital Investments, Inc. (AMEX: MGT), and an industry leader in the development of Computer-Aided Detection (CAD) and image analysis software which assists in the early detection and diagnosis of disease, today announced that it has received approval from the Chinese State Food and Drug Administration ("SFDA") for its MedicRead Colon workstation. Medicsight will launch this workstation via a Chinese dealer network which gives the Company access to almost 1000 sales representatives.
David Sumner, Chief Executive of Medicsight, commented: "This is another significant milestone for Medicsight and we are delighted to have received approval from the SFDA. China is one of the world's fastest growing medical imaging markets and is one of Medicsight's core target markets, with a high installed base of MDCT (Multidetector Computed Tomography), high incidence of colorectal cancer and a large population. In anticipation of this approval, Medicsight has been working closely with its Chinese dealer network in preparation for the national launch in Guangzhou during the May Chinese Society of Abdominal Radiology congress."
President Qi Ji, President of the Chinese Society of Radiology, said, "We have been working with Medicsight for three years as part of their Chinese clinical program. We have been delighted with the performance of Medicsight's products, which have proven to make a marked difference in the speed and accuracy of our diagnosis. As the number of patients in China increases, CAD software is becoming increasingly important for radiologists where improved workflow and productivity support their efforts to save lives. I am delighted that Medicsight's products will now be available to radiologists across China."
MedicRead Colon is an advanced visualization workstation for CT Colonography and combines Medicsight's ColonCAD computer-aided detection technology with 3D imaging tools to assist radiologists in the detection of colorectal neoplasia (polyps). This software reduces the workload of radiologists by automatically highlighting suspicious areas on scan images, and may also help radiologists detect possibly malignant tumors at an early stage when treatment is most likely to be successful.
About MGT Capital Investments, Inc.
MGT Capital Investments, Inc. is a holding company that focuses on investments in the global healthcare information technology market. The Company has two subsidiaries, Medicsight PLC and Medicexchange PLC.
Medicsight PLC (AIM: MDST) is a leading developer of computer-aided detection (CAD) software solutions. Medicsight's CAD solutions help clinicians utilizing Computed Tomography (CT) scans to identify, measure and analyze suspicious pathology within the colon and lungs. The Medicsight CAD products are validated against one of the world's largest databases of verified CT scan data collected from leading healthcare institutions from around the world. Medicsight products allow radiologists and physicians to review scans more quickly and accurately -- saving both time and lives.
Medicexchange PLC provides medical imaging professionals with a global web portal containing an online sales, jobs and information channel for diagnostic, treatment and surgery planning solutions. This combined with a variety of relevant clinical papers, training materials and content gives these professionals access to information and products that they otherwise would have difficulty accessing.
Additional information can be found at www.mgtci.com.
All forward-looking statements are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to, the risks described in company filings with the Securities and Exchange Commission.
SOURCE MGT Capital Investments, Inc.