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- Artrya (AYA) has been admitted to trading on the Australian Securities Exchange (ASX) under the ticket AYA, after the successful completion of an initial public offering (IPO)
- The company started trading today with just over 78.2 million shares on issue, yielding a market capitalisation of $105.6 million at the IPO price of $1.35
- The IPO received support from both current and new investors, raising a total of $40 million
- Shares in Artrya were up marginally to $1.51 each at the close of trading on Friday
Artrya (AYA), an artificial intelligence medical technology business, has started trading on the ASX after the successful completion of its initial public offering (IPO).
The company started trading today with just over 78.2 million shares on issue, which provided a market capitalisation of $105.6 million based on the IPO price of $1.35 per share.
The IPO received support from both current and new investors, raising a total of $40 million.
Artrya’s Managing Director and Co-Founder, John Barrington, said the listing was a significant milestone for the company and that investor support during the IPO was promising.
“Nine million individuals die from coronary artery disease each year globally and this number is expected to increase over the next few decades, as ageing populations continue to put pressure on health systems,” he said.
“This float will assist the Company in pursuing further growth in the US, UK, Canada, and Europe. We are keenly focused on product development and market entry strategies to ensure our shareholders are rewarded for their belief in an innovative Australian business.”
Following a successful tender bid, Artrya was recently appointed to the United Kingdom National Health Service Shared Business Services (NHS SBS) Framework as a supplier of artificial intelligence software and platforms, as disclosed in Artrya’s prospectus.
Artrya is one of a chosen, preferred and pre-qualified shortlist of approved suppliers from whom different public organisations, including 1250 NHS hospitals, can contract services under the NHS SBS framework agreement.
Salix, Artrya’s core product, is an AI-based solution that analyses cardiac CT images to detect a unique combination of heart attack indicators.
Salix assists clinicians in the early identification of coronary artery disease by emphasising disease location and severity on a 3D heart picture and delivering a detailed patient report in around 15 minutes, allowing for first-time-right therapy.
Market pilots of Artrya’s Salix Coronary Anatomy (SCA) product are now underway in Australia, with a number of the pilot projects likely to transition to commercial usage in the first half of 2022.
Shares in Artrya were up marginally to $1.51 each at the close of trading on Friday.
