NANO-X IMAGING, a medical imaging technology company, announces it has entered into exclusive distribution agreements for the introduction of Nanox’s medical imaging services in Russia and Belarus with local distribution partners (the “Distribution Partners”).

The Nanox System will offer a range of medical imaging services, from 2D X-ray to 3D Tomosynthesis computed tomography and are aimed to be deployed in rural areas for maximum patients’ outreach. The services are planned to be operated on a pay-per-scan business model at affordable prices for communities of varying socio-economic status.

According to the agreements, subject to regulatory approval and acceptance test clearance, the Distribution Partners will commit to Nanox a combined minimum annual service fee of approximately $48 million over a 3-year term. The service commitment is to be backed by a standby letter of credit in favor of Nanox.

The parties will collaborate on the deployment and operation of 600 Nanox Systems comprised of the Nanox.ARC and the Nanox.CLOUD to provide medical imaging services across Russia and Belarus.

“Nanox is rapidly advancing in contracted deployments of its medical imaging infrastructure on a global basis,” says Ran Poliakine, Founder and Chief Executive Officer of Nanox. “we plan to reach maximum global coverage over the next 5 years reaching the farthest regions in countries where the population has no access to medical imaging. Our partners in Russia and Belarus share our vision and I am looking forward to our mutual road ahead.”

Source: Company Press Release