Radical plan aims Taiwan to become a country-wide center of excellence for 21^st century early-detection imaging methodologies

implementing AI-based diagnostics for advanced preventive healthcare

NEVE ILAN, Israel & TAIPEI, Taiwan--(BUSINESS WIRE)--#Singapore--NANO-X IMAGING LTD (www.nanox.vision) (“Nanox” or the “Company”), an innovative medical imaging technology company, announces it has signed an exclusive distribution agreement with Golden Vine International (廖佩玲) (“Golden Vine”), for the introduction of affordable advanced medical imaging services in Taiwan and Singapore.

Golden Vine is led by Ms. Pepi Liao, a second generation of the Liao Wan Lung (廖萬隆), family, who is the founder and chairman of CB CERATIZIT – one of the largest global suppliers of Tungsten Carbide to leading medical imaging vendors such as Siemens, Fuji Seiko, Samsung and others.

Medical imaging is presently the primary non-invasive diagnostic tool in Taiwan according to the Taiwanese National Center for High-Performance Computing and the Nanox System is expected to help address increased accessibility and diagnostics needs of an aging society and growing number of patients that are being handled by fewer healthcare staff. The Nanox System aims to offer a range of medical imaging services, from 2D X-ray to 3D Tomosynthesis computed tomography. The services are planned to be operated on a pay-per-scan business model.

Following required regulatory approvals and acceptance test clearance, the parties will collaborate on the deployment and operation of 500 Nanox Systems comprised of the Nanox.ARC and the Nanox.CLOUD. The partnership aims to provide medical imaging services across Taiwan at affordable prices for communities of varying socio-economic status.

According to the agreement Golden Vine will commit to a minimum annual service fee of $28.9 million to Nanox. The payment is expected to be guaranteed by a standby letter of credit in favor of Nanox.

"Taiwan is one of the most advanced countries in the world for innovative healthcare,” says Ran Poliakine, Founder and Chief Executive Officer of Nanox. “Our collaboration with Golden Vine and Ms. Liao is aimed to create a country-wide center of excellence for 21^st century early-detection imaging methodologies and use of AI for preventive healthcare. Taiwan has surpassed many other countries in national medical data use for early-detection and higher standard of care. I believe we will drive significant innovation through this partnership and look forward to making a real difference for providing better healthcare for all.”

“Nanox brings a message of hope,” says Ms. Pepi Liao, CEO of Golden Vine, “It has the potential to introduce a groundbreaking ability to deploy high-quality imaging system in mass. Medical centers, small local clinics, nursing homes…. all of these represent a vast market that presently has no access to such equipment. We believe Nanox can provide a strong solution for mass-population screening and in special situations, such as COVID-19, Nanox can be the game changing factor where millions of people need to undergo imaging in a short time and are facing an insufficient install base to accommodate such a scenario. We have many challenges ahead, but our aim is to become a prime service provider for preventive healthcare and drive innovation throughout the Asia Pacific.”

About Nanox:

Nanox, founded by the serial entrepreneur Ran Poliakine, is an Israeli corporation that is developing a commercial-grade digital X-ray source designed to be used in real-world medical imaging applications. Nanox believes that its novel technology could significantly reduce the costs of medical imaging systems and plans to seek collaborations with world-leading healthcare organizations and companies to provide affordable, early detection imaging service for all. For more information, please visit www.nanox.vision.

Forward-Looking Statements

This press release may contain forward-looking statements that are subject to risks and uncertainties. All statements that are not historical facts contained in this press release are forward-looking statements. Such statements include, but are not limited to, any statements relating to the initiation, timing, progress and results of Nanox's research and development, manufacturing and commercialization activities with respect to its X-ray source technology and the Nanox.Arc. In some cases, you can identify forward-looking statements by terminology such as “can,” “might,” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “should,” “could,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on information Nanox has when those statements are made or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause actual results to differ materially from those currently anticipated include: risks related to Nanox's ability to develop and produce a working prototype of the Nanox.Arc; Nanox's ability to successfully demonstrate the feasibility of its technology for commercial applications; Nanox's expectations regarding the necessity of, timing of filing for, and receipt and maintenance of, regulatory clearances or approvals regarding its X-ray source technology and the Nanox.Arc from regulatory agencies worldwide and its ongoing compliance with applicable quality standards and regulatory requirements; Nanox's ability to enter into and maintain commercially reasonable arrangements with third-party manufacturers and suppliers to manufacture the Nanox.Arc; the market acceptance of the Nanox.Arc and the proposed pay-per-scan business model; Nanox's expectations regarding collaborations with third-parties and their potential benefits; and Nanox's ability to conduct business globally, among others. Except as required by law, Nanox undertakes no obligation to update publicly any forward-looking statements after the date of this press release to conform these statements to actual results or to changes in Nanox's expectations.

Contacts

Media contact:

ReBlonde for Nanox

Alona Stein

[email protected]