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News | February 16, 2022

Queen’s University Radiology Receives Hyperfine Portable MRI to Improve Access to Care for Canadian Patients in Remote Northern Communities

Cutting-edge imaging technology aims to improve point-of-care triaging for patients in Northern Ontario where access to conventional MRI is currently unavailable

GUILFORD, Conn. and MOOSE FACTORY, Ontario, Feb. 16, 2022 (GLOBE NEWSWIRE) – Hyperfine, Inc. (Nasdaq:HYPR), creator of Swoop®, the first FDA-cleared portable magnetic resonance imaging (MRI) system™, is proud to announce that Queen’s University and Kingston Health Sciences Centre are deploying a Swoop system as part of their health services benefitting six communities located in the James Bay and Hudson Bay Area. Until now, patients needing routine or emergent care required transportation by medical charter flight hundreds of miles away to either Timmins or Kingston, ON. Queen’s University intends to utilize Swoop as part of a study to build evidence regarding the utility and affordability of a portable point of care (POC) MRI in a remote setting.

Queen’s University is situated on traditional Anishinaabe and Haudenosaunee territory and provides medical services to a predominantly Indigenous population in the Weeneebayko Area Health Authority (WAHA) in Northern Ontario. Members of remote communities such as these have been limited by proximity to medical centers and at the mercy of dangerous weather conditions putting undue constraints on the individual, especially those who are critically ill or unstable.

“Until recently, the technology for portable point of care imaging has not existed—resulting in inequitable access to healthcare and putting people at great risk simply due to their geographical limitations,” said Khan Siddiqui, M.D., chief medical officer and chief strategy officer of Hyperfine. “Swoop® was designed to enable rapid diagnoses and treatment for every patient regardless of income, resources, or location, pushing the boundaries of conventional imaging technology and expanding patient access to life-saving care.”

Instead of transporting the patient to the MRI, Swoop can be delivered directly to the patient, eliminating long wait times and other difficulties with transporting patients. The Swoop system also has a lower field strength than a traditional MRI which greatly shortens the screening protocol for patients, allowing clinicians to quickly scan, diagnose and treat patients within crowded healthcare environments like emergency rooms (ERs), operating rooms (ORs), and intensive care units (ICUs).

Swoop results are displayed on a tablet and deliver crisp, clear T1, T2, FLAIR, and DWI (with ADC map) tissue contrasts within minutes before uploading the scans to local PACS (Picture Archive and Communications System). The image quality resulting from this innovative approach elevates the diagnostic value of portable MRI and enables Swoop to deliver crisp, clear images within minutes.

“Point of care MR imaging is a revolutionary advance that offers the potential to truly democratize healthcare by eliminating the need for risky patient transports and enabling earlier diagnosis” said Dr. Omar Islam, Principal Investigator and Department Head of Diagnostic Radiology, Queen’s University. “With the addition of the Swoop system we are now able to extend timely neuroimaging care to Indigenous communities who have historically experienced limited access to medical resources here in Canada’s remote northern regions. We’re truly optimistic about the potential impact this new technology will create and look forward to sharing our findings as a model for other rural patient populations to follow.”

Hyperfine recently announced its medical device license issued by Health Canada as well as the commercial launch of the imaging system available for purchase in Canada. Hyperfine’s Canadian expansion is continued validation of its cutting-edge, deep learning technology and supports the company’s growth plans for commercial expansion bringing greater access to advanced MR imaging globally.

For more information about the Hyperfine Swoop Portable MRI System, please visit http://www.hyperfine.io.

About Hyperfine and the Swoop Portable MRI System

Hyperfine, Inc. is the groundbreaking medical device company that created Swoop, the world’s first FDA-cleared portable MRI system. Hyperfine designed Swoop to enable rapid diagnosis and treatment of all patients regardless of income, resources, or location, pushing the boundaries of conventional imaging technology and expanding patient access to life-saving care. The Swoop Portable MR Imaging System produces high-quality images at a lower magnetic field strength, allowing clinicians to quickly scan, diagnose and treat patients in various point of care clinical settings. Swoop can be wheeled directly to the patient’s bedside, plugged into a standard electrical wall outlet, and controlled by a tablet. Designed as a complementary system to conventional MRIs at a fraction of the cost, Swoop captures images in minutes, providing critical decision-making capabilities in emergency departments, operating rooms, and intensive care units, among others. For more information about Hyperfine, please visit https://www.hyperfine.io.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Hyperfine’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations about the benefits of Hyperfine’s products and services, Hyperfine’s future performance and growth plans, and plans with respect to Queen’s University’s and Kingston Health Sciences Centre’s deployment of a Swoop system, including Queen’s University’s intent to use Swoop to study the utility and affordability of a point of care MRI in remote settings. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of Hyperfine’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the success, cost and timing of Hyperfine product development and commercialization activities, including the degree that Swoop is accepted and used by healthcare professionals; the impact of COVID-19 on Hyperfine’s business; the inability to maintain the listing of Hyperfine’s Class A common stock on the Nasdaq following the recently completed business combination; the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and Hyperfine’s ability to grow and manage growth profitably and retain its key employees; changes in applicable laws or regulations; the inability of Hyperfine to raise financing in the future; the inability of Hyperfine to obtain and maintain regulatory clearance or approval for its products, and any related restrictions and limitations of any cleared or approved product; the inability of Hyperfine to identify, in-license or acquire additional technology; the inability of Hyperfine to maintain its existing or future license, manufacturing, supply and distribution agreements; the inability of Hyperfine to compete with other companies currently marketing or engaged in the development of products and services that Hyperfine is currently marketing or developing; the size and growth potential of the markets for Hyperfine’s products and services, and its ability to serve those markets, either alone or in partnership with others; the pricing of Hyperfine’s products and services and reimbursement for medical procedures conducted using Hyperfine’s products and services; Hyperfine’s estimates regarding expenses, future revenue, capital requirements and needs for additional financing; Hyperfine’s financial performance; and other risks and uncertainties indicated from time to time in Hyperfine’s filings with the Securities and Exchange Commission, including those under “Risk Factors” therein. Hyperfine cautions readers that the foregoing list of factors is not exclusive and that readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. Hyperfine does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

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Aunny De La Rosa-Bathe APCO Worldwide abathe@apcoworldwide.com