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Promaxo Announces Six System Sales in the Third Quarter 2022

Promaxo, Inc.
Promaxo, Inc.

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 in the third quarter ending September 30, 2022. The system sales included both operating lease and revenue share agreements with physician practices in Florida, New Jersey, and Texas. 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.

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 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, “Given our focus on leveraging the latest technologies, robotics and microsurgery in our urology practice, incorporating the Promaxo MRI system into our programs was a natural and synergistic next step. Coupled with the flexibility of commercial partnership programs offered by Promaxo, we are impressed with the ease at which we place the system in our office and with how quickly we begin to provide Promaxo MRI procedures to our patients.”

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

About Sovereign Health System
Sovereign Health System is a multi-specialty community healthcare system, with primary and specialty medical care provided by the physicians of the Sovereign Health Medical Group, 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 locations 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 treating conditions such as prostate cancer, erectile dysfunction, and kidney stones by leveraging leading technologies. The practice utilizes technologies such as HIFU, ErosWave, cryosurgery, shockwave therapy, and stem cell therapy to address and treat their patients’ needs.

About Avant Concierge Urology
Avant Concierge Urology is a Central Florida urology practice, specializing in the treatment of conditions related to the kidneys, urinary bladder, adrenal glands, urethra, and male reproductive organs. Avant offers personalized, best-in-class surgical treatment options, with the intent to minimize downtime, scarring, and expenses. With focus on offering latest technologies, 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, offering patients a best-in-class surgery solution allowing for better precision and decreased recovery time.

About Jersey Urology Group
Jersey Urology Group is a comprehensive urology practice in southern New Jersey, with a team of top urology doctors in New Jersey offering patients state-of-the-art technologies and innovative therapies for the treatment of all urologic conditions. Urology services include treating kidney stones, prostate problems, infertility, and other complex urological issues.

About Urology Center of Winter Park
Urology Center of Winter Park, centrally located in Florida at Winter Park, utilizes state of the art, minimally invasive urological procedures in the diagnosis and treatment of all types of urological issues. The practice provides medical solutions dedicated to all aspects of urological care with the latest in minimally, and non-invasive techniques to reduce pain and hasten recovery. Services include urology, urologic surgery and urologic oncology.

About Urology America MSO
Urology America is a national, best-in-class urology platform founded in Central Texas by Urology Austin physicians and Gauge Capital. Urology America’s mission is to build a platform that provides unparalleled support to providers and care team, to deliver exceptional and comprehensive urological care, with compassion and service that exceeds expectations. Urology America is built with a focus on achieving returns through innovation and revenue growth. This includes drawing on expertise and collective experience to develop new services where applicable.

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