Promaxo Announces Sale of In-Office MRI to Kasraeian Urology

OAKLAND, Calif.–(BUSINESS WIRE)–Promaxo, Inc. (“Promaxo” or the “Company”), a medical imaging, robotics, and AI technology company, announced today the sale of its in-office MRI system to Kasraeian Urology, a Division of Florida Physician Specialists (“Kasraeian Urology”). FDA cleared for in-office use, the Company’s single-sided MRI system with AI based imaging empowers practices and hospitals to accurately and seamlessly guide prostate interventions under the Promaxo scanner.

“Our technology enables safe and effective point of care diagnostic biopsies and treatment of cancers, overcoming limitations of traditional MRIs, and paving way for our $3 billion addressable market for in-office prostate procedures. We are thrilled to welcome Kasraeian Urology to our growing network of physician practices and look forward to our partnership to improve upon overall patient cancer care in the office setting,” said Dr. Amit Vohra, Founder, and CEO of Promaxo.

Dr. Ali Kasraeian, FACS at Kasraeian Urology said, “Our practice is dedicated to providing the most current and accurate tools and techniques for identifying and treating prostate cancer. The Promaxo system reinforces our practice goals as it not only allows us to refine our biopsies, but also facilitates MR-guided therapies within the comfort of our offices and ambulatory surgery center. We are delighted to be able to offer this new technology and service to our patients.”

About Kasraeian Urology, A Division of Florida Physician Specialists

Kasraeian Urology is a family-owned practice providing personalized urologic care for over 25 years, with three offices in Northeast Florida. The practice brings the highest standard of medical expertise to diagnosing and treating bladder, prostate, renal, and other urologic concerns for men and women. The clinic specializes in services ranging from precision diagnostics to advanced robotic surgeries. Kasraeian Urology is also renowned for their second opinion consultations, specializes in the advanced diagnosis of prostate disease, and is a leading expert on minimally invasive and ablative urologic surgery for prostate, kidney, and bladder cancers, as well as benign prostatic hyperplasia (BPH). The practice frequently performs minimally invasive robotic surgeries using the da Vinci® Surgical System, PROCEPT AquaBeam® Aquablation therapy, UroLift® implants, ShockWave Therapy, and HIFU Prostate Cancer Treatment.

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 90 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. The Company has partnered with kineo finance for tailored sales-and-lease-back programs provided as an option to its growing network of physician practices and academic centers.

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

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Twitter: @Promaxo
Facebook: Promaxo

Contacts

Investors
Gilmartin Group

Vivian Cervantes

e: IR@promaxo.com

Media
Jive PR + Digital

Ashley Best

e: ashley@jiveprdigital.com
m: 604.839.2745

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