Novarad Wins Second Consecutive MedTech Breakthrough Award

SALT LAKE CITY – May 6, 2021 – Novarad, a leader in transformative imaging technologies, today announced that its COVID-19 AI Diagnostic Assistant has been selected as the winner of the “Best New Radiology Solution” award in the fifth annual MedTech Breakthrough Awards program conducted by MedTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global health and medical technology market.

The mission of the MedTech Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of health and medical technology categories. This year’s program attracted more than 3,850 nominations from over 17 different countries around the world.

“Patients with COVID-19 can now be identified faster and treated more appropriately, especially in countries where radiologist access is limited, increasing the probability of recovery and significantly impacting our ability to minimize the spread within communities,” said James Johnson, managing director, MedTech Breakthrough. “Congratulations to Novarad once again this year - this time for their COVID-19 AI Diagnostic Assistant. We’re proud to present Novarad with the ‘Best New Technology Solution for Radiology’ award.”

Last year, Novarad’s CryptoChart was recognized as “Best New Radiology Solution” by MedTech Breakthrough. With the addition of the Diagnostic Assistant win, Novarad has become the first company to win the award two years in a row.

In partnership with Intel Corp. and leveraging Azure, Microsoft’s cloud computing service, Novarad offers free use of the Diagnostic Assistant for the detection of COVID-19 from CT scans. Over 30,000 images were trained from Novarad’s 18-petabyte data archive from over 40 medical centers in four countries. You may download the free Diagnostic Assistant here.

“Time is of the essence in a pandemic, and Artificial Intelligence gives us the ability to analyze large amounts of data quickly,” said Dr. Wendell Gibby, CEO of Novarad. “Our AI Diagnostic Assistant delivers unprecedented speed as well as accuracy. When pulmonary COVID disease is present, Novarad’s algorithm has a <1% false-negative detection rate. We are humbled to receive this award from MedTech Breakthrough two years in a row. It is a testament to the ingenuity and hard work of our great team.”

Novarad has a legacy of AI efforts going back ten years as a tool to assist doctors by performing computationally complex tasks like finding the colon in virtual colonoscopy, quantitating organs, finding vessels and more.