Spectral AI Announces New U.S. Government Contract Valued At Over $500,000 To Further Accelerate The Development Of The Handheld Version Of DeepView Wound Imaging System
Portfolio Pulse from Benzinga Newsdesk
Spectral AI, Inc. (NASDAQ:MDAI) has announced a new contract with the Defense Health Agency and the US Army Medical Material Development Activity valued at over $500,000 for the development of DeepView SnapShot® M, a handheld version of its DeepView Wound Imaging System. This contract adds to previous U.S. Government awards, bringing the total funding for DeepView SnapShot® M to over $6 million. The funding aims to optimize the device for combat readiness and expand its use in home health care, reinforcing Spectral AI's role in AI-driven healthcare innovation.
March 12, 2024 | 12:03 pm
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Spectral AI's new $500,000+ contract for DeepView SnapShot® M development with DHA and USAMMDA could significantly enhance its market position in AI-driven healthcare, especially in wound care diagnostics.
The new contract not only provides financial support but also validates Spectral AI's technology and its application in critical healthcare settings. This could lead to increased investor confidence and potentially boost MDAI's stock price in the short term. The emphasis on non-dilutive funding and the total awards amounting to over $250 million, including $150 million in the last six months, underscore the company's strong financial backing and government support, which are positive indicators for its stock performance.
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