February 2018 Newsletter

Dear investor,

It’s certainly been a busy couple of months at Volpara. As we draw closer to the end of our reporting year, we’re in a prime position to deliver on our annual goals, and we’re starting to plan and look forward to the new financial year ahead.

In early February, we were pleased to announce the signing of Brisbane’s Wesley Breast Clinic to VolparaDensity software. This milestone signing came with the good news that there is now a Volpara site in every major Australian city.

With our focus remaining on the significant markets of the US and Europe, some exciting news came out of the UK earlier this month. Following the initial PROCAS trial last year, Volpara was selected for a further two-year trial by the UK National Health Service (NHS) to implement VolparaDensity software in Greater Manchester, East Lancashire and East Cheshire as part of its Breast Screening Programme. This brings a significant opportunity for the Company, as a successful trial could result in a rollout of VolparaDensity across the entire UK public health system.

Finally, it is great to see coverage of Volpara’s success in the media. We had a number of articles published on the NHS trial, as well as a piece on Volpara’s artificial intelligence capability in Stockhead that came as a result of a conversation with Non-executive Director and one of the founders of the Company, Professor Sir Mike Brady.

We hope you enjoy reading this February newsletter, and we look forward to updating you with the Company’s future progress.
Ralph P. Highnam, PhD
CEO & Chief Scientist
Volpara delivers record quarterly sales performance, with ARR up 152% since end FY17
In late January, Volpara announced its financial results for the period ended 31 December 2017, delivering a record quarterly sales performance. The results show NZ$3.1m was added to the total contract value (TCV)—a 176 percent increase from last year. In the past nine months, annual recurring revenue (ARR) increased from NZ$1.1m to NZ$2.7m—a 152 percent increase. This performance puts us on track to exceed 200 percent growth for the full year.

View the full Appendix 4C here.
UK NHS programme moves to implement VolparaDensity in new trial

Following an initial trial in the UK, VolparaDensity software has been selected above other solutions to participate in a second trial in the UK’s National Health Service (NHS) Breast Screening Programme. The trial will see VolparaDensity software’s implementation across Greater Manchester, East Cheshire, and East Lancashire for a period of two years, and its success could lead to a total implementation of the software by the entire UK public health system.

View the full update here.

Newsflash: Signing of Wesley Breast Clinic

After a successful trial, Wesley Breast Clinic in Brisbane has purchased VolparaDensity software. This signing is significant, as it means there is now a Volpara site in every major Australian city.
Imaging Associates Video
Last month, Imaging Associates Radiologist and Clinical Director Dr Daniel Lee met with us to discuss the positive impact of VolparaEnterprise software on the Group’s radiology and imaging services. In this video interview, Dr Lee also outlines the simple onboarding of VolparaEnterprise software, and its ease of use.

Watch the video here.
Volpara technology supported in recent Manchester study on mammographic density
At the start of this year, research published by Astley et al. of the University of Manchester, titled “A comparison of five methods of measuring mammographic density: a case-control study,” compares five different mammographic density measures to determine the association with subsequent diagnosis of breast cancer, and the presence of breast cancer at screening.

One of the methods tested was fully automated software, which included Volpara. The report concludes that Volpara had one of the strongest associations in detecting and diagnosing breast cancer.

Read the research here.
From the blog: Customer success is transformative - our transition to SaaS
In the latest blog, CEO Ralph Highnam reflects on the transformation of Volpara’s sales model in 2016—from a capital sales model to Software as a Service (SaaS). He discusses the strengthened focus on customer success and the growing number of success stories that came as a result.

Read the article here.
Register for free visitor entry to the Australian Healthcare Week Expo Sydney
The Australian Healthcare Week Expo will take place in Sydney on 21 and 22 March at ICC Sydney. It is Australia’s fastest growing healthcare event, with 5,000 clinical, corporate, technology and infrastructure professionals expected to attend in 2018.

This year, the expo is offering free visitor passes to attend any of six on-floor presentations. Renowned radiologist and Volpara supporter Dr Mary Rickard will be presenting on 22 March at 3:30pm on the trade floor. Dr Rickard will present on personalising breast screening based on risk.

You can register free for the expo here.
Volpara in the news
Volpara takes first step towards cracking the UK health market

Volpara Health has entered the UK market a week after saying the British National Health Service (NHS) would be a 10-year marathon to crack.

The breast cancer detection business is starting a two-year trial with the Manchester University NHS Foundation Trust, in a bid to get the technology into a breast screening programme. 
Continue reading

Volpara implements VolparaDensity software
Nine News Finance
Volpara Health Technologies has commenced a major trial to implement VolparaDensity software and risk-based screening into the NHS Breast Screening Program in England. Continue reading
Three healthcare shares to bring your portfolio back to life
The Motley Fool

One area of the market which I think is a great place to look for buy and hold investments is the healthcare sector.

This is because favourable tailwinds are being experienced in the sector at the moment that are expected to lead to increasing global demand for healthcare services for the next couple of decades. Continue reading

How Volpara is using machine learning to improve breast cancer screening

Artificial intelligence is not the same as machine learning — and it’s the latter which is making inroads into the medical sector, says Volpara Health Technologies founder Sir Mike Brady.

Sir Brady — knighted in the 2004 New Years Honours list for services to engineering — says a combination of factors means companies like Volpara are increasingly putting machine learning to use in the medical sector. Continue reading

Breast density in the news
QI project helps radiology department see significant improvements in breast positioning
Radiology Business

Insufficient breast positioning is commonly considered the No. 1 cause for technical failure in mammograms and can cause issues in both full-field digital mammography (FFDM) and digital breast tomosynthesis (DBT). With that in mind, a team of researchers spent more than three years on a quality improvement (QI) project to improve breast positioning at their facility, writing about the project’s impact in American Journal of Roentgenology.

View the article here
Upcoming events
28 February - ECR 2018 - Vienna

9 March - NCoBC - Las Vegas

21 March - Australian Healthcare Week 2018 - Sydney

12 April - SBI/ACR Breast Imaging Symposium - Las Vegas

19 April - Breast Screen Australia Conference - Adelaide

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WE Buchan · 132-136 Albert Road · South Melbourne, Victoria 3205 · Australia

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