Optiscan Imaging: This just might be a medical revolution – no more agonising waits for pathology results!
Optiscan Imaging Managing Director Camile Farah on 2GB Bulls N' Bears Report
Listen to ASX-listed Optiscan Imaging Managing Director Dr Camile Farah talk to Matt Birney on the Bulls N’ Bears Report about Optiscan’s extraordinary new medical invention that can deliver pathology results on the spot.
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RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by medical device company Optiscan Imaging.
Matt Birney - ASX code: OIL
Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Optiscan, Dr Camille Farah.
Matt Birney - Hi Camile
Dr Camille Farah - Hello Matt.
Matt Birney - Okay Camille Optiscan has just launched what looks like a fascinating mobile medical device known as InForm that you say will turn the traditional multi-billion dollar pathology industry on its head. What is InForm, what does it do and how does it differ from the traditional pathology where tissue sample is taken and sent from a patient to a lab for testing?
Dr Camille Farah - So as you say a traditional procedure involves taking a sample from a patient, sending it to a Pathlab, typically that happens by putting the sample in a fixative material, leaving it there for 24 hours and then the sample is sent to the lab and sliced and diced and stained and that takes another 24 sometimes 48 hours before it gets to a glass slide and the pathologist then gets to read it and then it's digitized right at the end so the whole process is very time consuming, very consumable, intensive and our device basically cuts all of that down to minutes.
Matt Birney - Right well just describe this machine for me, I take it you can set the machine in a surgery setting or anywhere really, is it mobile? What does it look like and what's the typical setting?
Dr Camille Farah - It's a mobile trolley, so we can move it around to different areas. You can put it in the operating theater, outside the operating theater, you can put it in pathology lab and move it around so it's meant to be portable, it's got a screen a digital handheld microscope so literally you touch the sample with the handheld microscope and immediately on the screen a microscopic image will appear.
Matt Birney - Okay what's the business model here? Do you want to rent these machines? Do you want to sell them and who would a typical customer be?
Dr Camille Farah - Ideally it's a CapEx selling of the machine to large pathology labs or large hospitals that have got a lot of through port with surgery in operating theaters and that assists them with their efficiencies in their operations but of course leasing is another model.
Matt Birney - How big is the pathology market worldwide? Do you have any numbers on it?
Dr Camille Farah - Currently the pathology market is around 50 billion worldwide its estimated to grow to about 63 billion by 2032 and it's growing year on year by about 7%. Very large players in this space and a very high demand for pathology worldwide.
Matt Birney - Dr Camile Farah from Optiscan.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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