Thesis
DIAGNOS is a Canadian leader in AI-powered healthcare solutions, with its proprietary FLAIRE AI platform driving the success of its flagship offering CARA (Computer Assisted Retina Analysis). CARA enhances retinal images for cost-effective, real-time mass screening, addressing critical conditions like diabetic retinopathy. Operating in 16 countries with over 400,000 patients under care, DIAGNOS is strategically expanding its global footprint through key partnerships, including with New Look and Essilor Luxottica (the world’s largest optical company).
Critical to its success is its price-per-use (PPU) model, which generates scalable, recurring revenue for the business. For example, with 7,700 tests/day from New Look alone, DIAGNOS projects it could see $12 million in annual revenue while its partner oversees the management & distribution of its services. This not only accelerates scalability but also reduces its operational expenses in the process.
In FY2024, DIAGNOS made significant strides, securing agreements with Essilor Luxottica, launching new diagnostic tests, and raising over $6 million in capital. Its growth strategy focuses on expanding optical partnerships, entering government healthcare programs, and achieving break-even with more than $3 million in annual revenue in 2025. With 40% insider and family office ownership and a two-year cash runway, DIAGNOS shows strong internal confidence and is well-positioned for continued success in the multi-billion dollar AI healthcare industry.
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