- Grey Matters Health is preparing to launch its first NovaScan Neuroimaging Clinic in Davie, Florida, with final accreditation pending.
- Its dedicated brain PET imaging technology is designed to improve patient comfort and reduce radiation exposure compared with conventional PET/CT scanning.
- Recent financings are supporting clinic development, equipment, marketing and plans for additional Florida locations in 2027.
Grey Matters Health (CSE: GREY) (OTC: AGNPF) is working to expand access to specialized brain imaging through dedicated positron emission tomography (PET) facilities in the U.S., called NovaScan Neuroimaging Clinics.
The company has been preparing to launch its first brain-focused PET imaging clinic in Florida, reaching several operational milestones, including obtaining a radioactive materials license and engaging ProScan, a nationally recognized radiology reading provider, to interpret its brain imaging studies.
This content has been prepared as part of a partnership with Grey Matters Health, a third-party issuer, and is intended for informational purposes only.
Grey Matters has also completed two recent equity and convertible debenture financings as it advances its commercialization plans.
Stockhouse spoke with Christopher Moreau, CEO of Grey Matters Health, about the company’s technology, its first clinic, recent financing and the opportunities ahead. Read the full interview below.
StockHouse: For investors discovering Grey Matters Health for the first time, what is the company’s business model, and what gap in the medical imaging market are you looking to address?
Christopher Moreau: The Company’s business model is to open and operate brain-dedicated neuroimaging clinics in the U.S. featuring a new U.S. FDA-cleared brain PET (Positron Emission Tomography) scanner technology.
The majority of currently operating PET scanning clinics in the U.S. are focused on abdominal cancer diagnostics and theranostics and imaging of the heart, accounting for some 90% of all scans.
As a result, it has left neuroimaging patients competing for access to imaging appointments across the U.S., leaving many patients waiting weeks to be imaged.
With the growing number of Alzheimer’s cases (which need a positive PET scan before treatment can be approved) and the growing number of neurodegenerative diseases requiring PET scans, the Company plans to provide its exclusive brain scanning clinics brand as a serious alternative in the market.
StockHouse: Your approach centers on dedicated brain PET imaging. How does this technology differ from conventional brain imaging, and what advantages could it offer patients and healthcare providers?
Christopher Moreau: The new PET scanner is optimized for the brain and provides an improved patient experience, allowing patients to sit upright for the scan with the scanner coming to the patient.
The current PET technology requires the patient to lie down on a narrow table that moves in the scanner mechanism, causing some patients to suffer from claustrophobia and nausea due to the movement of the table.
Also, when PET scans were first introduced into the North American market, they were quickly combined with CT (Computed Tomography) in order to provide a better image. Since CT scanners are 3D X-ray machines, they expose a patient to additional radiation.
Our new brain-dedicated scanner has been designed to not need a CT scanner, and as a result we expose the patient to 25% less radiation while still producing an improved and optimized image of the brain.
In summary, these improvements will mean timelier and more accurate diagnostic images of neurodegenerative diseases delivered with greater patient safety and patient care.
StockHouse: You’ve made significant progress towards opening your first clinic, including securing a radioactive materials license and partnering with ProScan. Where do operations stand today, and how do these developments support your plans to bring the facility into service?
Christopher Moreau: Having cleared all regulatory hurdles for our flagship clinic in Davie, Florida, and having received all licenses and permits to be able to order isotopes and scan patients, we are now waiting to receive final accreditation for the clinic.
All U.S. diagnostic imaging clinics require accreditation by one of three U.S. governing bodies, which is required for us to be able not only to bill Medicare for the isotopes and scanning services but also to negotiate all other contracts with U.S. health insurance providers.
StockHouse: Grey Matters recently closed an equity and convertible debenture financing. How will the proceeds be allocated, and how does this funding position the company for its next stage of growth?
Christopher Moreau: The recent financings that were completed by Grey Matters Health have provided the company with the capital to not only build out and furnish the first flagship location, but have provided the resources for all of the software, systems and equipment needed to be able to operate the clinic.
A portion of the capital is also being dedicated to marketing the first clinic to the medical community as well as covering overhead costs. Our view has always been that we are not only opening the first clinic, but we are building out a foundation to be able to quickly expand the concept across the U.S. after we achieve operational success with our first clinics.
StockHouse: Looking ahead over the next six to twelve months, what are the key operational and commercial milestones investors should be watching, and how could your first clinic establish a foundation for future expansion?
Christopher Moreau: The first milestone after we become accredited will be the scanning of the first patient and completing the first invoice and payment cycle by either a self-pay patient or an insurance provider.
The next goal will be the continuing build-out of our marketing and communications programs to be able to have a direct impact on patient acquisition, which will build over time.
Another key target will be to open one to two additional clinics in Florida in 2027, to test and prove the Company’s capabilities to operate a multi-clinic business while preparing to scale up and open NovaScan Neuroimaging clinics across the U.S.
For more information, visit Grey Matters Health or follow the company on Stockhouse.
