Parkersburg, WV, March 14, 2023 (GLOBE NEWSWIRE) -- Parkersburg, WV, March 14, 2023 /GlobeNewswire/ -- KronosMD, INC., a subsidiary of Kronos Advanced Technologies Inc (OTC MARKETS: KNOS) ("KNOS" “$KNOS” or the "Company"), a leading product development and manufacturing company, announced today that it has successfully acquired all existing and future assets and intellectual property related to its upcoming innovative 3D ultrasound dental imaging and diagnostic devices. The acquisition is expected to enhance the commercialization of the S-WAVE™ platform and S-WAVE™ ultrasound imaging device as it nears completion.
IndustryARC™ - the Provider of Market Research Reports had indicated that Ultrasound Devices Market size is estimated to reach $9.1 billion by 2027, growing at a CAGR of 3.95% during the forecast period 2022-2027. Ultrasonic devices are utilized to discover objects and assess distances. Ultrasound imaging or sonography is frequently utilized in medicine.
KronosMD is set to revolutionize the dental industry with the most disruptive and innovative 3D ultrasound-powered intraoral imaging system globally. The S-WAVE SCAN™ is designed to be the only radiation-free 3D imaging modality for soft and hard tissue anatomy that radiographs fail to detect, delivering a new category of imaging capability to clinicians for diagnosis and treatment planning.
"3D Medical and Dental Ultrasound imaging is a rapidly evolving technology that provides clinically valuable diagnostic information without exposing patients to harmful radiation. With our patented application-specific S-WAVE SCAN™ technology that can be optimized for targeting intraoral tissues and anatomy, the S-WAVE SCAN™ will deliver innovative 3D diagnostic imaging, including live real-time procedures and surgery monitoring, providing dentists for the first time, a variety of imaging previously unavailable in any other format and without harmful radiation," commented Dr. Greg Rubin, CEO of KronosMD Inc.
Dr. Rubin further stated, "Major healthcare technology innovations often take place at the interfaces of disciplines. This is especially true where medicine meets dentistry because we can experiment, apply, innovate, and invent new applications, new technologies for medicine and dentistry which creates significant potential for improving total healthcare."
With the implementation of S-WAVE™ technology, dental clinicians will be able to capture images more frequently, without the risk of exposing patients to the harmful radiation, and gain more accurate diagnostic information. Additionally, they can leverage real-time imaging during clinical procedures to improve the overall clinical outcomes. During surgical procedures, such as dental implant surgery, dentists will be able to visualize key anatomical structures to avoid and reduce complications, improving the overall experience and expediting the post-surgical recovery of the patient.
KronosMD plans to develop cloud-connected models using artificial intelligence (AI) to rapidly identify, highlight and measure intraoral structures in clinical settings to help dentists accelerate diagnoses and treatment. The FDA recognizes the potential benefits of AI in medical imaging, including ultrasound, such as improving diagnostic accuracy, reducing healthcare costs, and increasing efficiency. However, the agency also recognizes the importance of ensuring the safety and effectiveness of AI algorithms before they are used in clinical settings.
To this end, the FDA has issued guidance for the development and regulation of AI algorithms in medical imaging, which includes an ultrasound. The guidance recommends that developers of AI algorithms for medical imaging engage with the FDA early in the development process to ensure that the algorithm meets regulatory requirements for safety and effectiveness.
With this acquisition, KronosMD is poised to bring a new level of innovation and technology to the dental industry, providing clinicians with advanced and efficient imaging systems that will enable them to deliver the highest quality of care to their patients.
About KronosMD Inc.
As a transformative digital health company, KronosMD is revolutionizing the dental care industry by introducing SWAVE ™ ultrasound imaging technology in all dental care specialties, for any patient situation. The company’s innovations include the world's first point-of-care dental ultrasound system using an advanced, KronosMD-acquired technology that is disrupting the dental imaging methodology by introducing ultrasound as an advanced clinical diagnostic and assessment tool, by making it portable, and economically appealing to the dental industry.
SWAVE™ sensor is the only 3D ultrasound transducer that can perform both extraoral and intraoral imaging in a single handheld probe using SWAVE™ technology. Our advanced technology will reduce the manufacturing cost, and our software platform will make the sensors easy to everyday use and will be fully integrated with the leading dental management and clinical workflow software and accessible on smartphones, or tablets.
Utilizing AI (Artificial Intelligence) and our proprietary and patented solutions, protected by an IP portfolio we will enable dentists to obtain more informed treatment decisions in real-time without the need to take multiple X-Rays. In addition, SWAVE® provides an advanced ultrasound platform with
S-WAVE SCAN™ software will be integrated into most dental practice management systems on the market.
We will manufacture and market the SWAVE™ system, which will include 3D Ultrasound sensors and accessories and software subscriptions (SaaS), to dental healthcare providers utilizing direct sales, and national distributors, via strategic partnerships and online sales.
About Kronos Advanced Technologies, Inc.
Kronos is a technology company that specializes in air purification and sterilization. Founded in 2002 with funding from the U.S. military, the company began as a product development company that invented a new way to move, filter, and sterilize air using electrostatic air movers.
Today, Kronos owns an 85,000 sq ft electronics manufacturing facility in West Virginia where it sells FDA-cleared air purification units that it originally developed and patented.
Kronos uses state-of-the-art high-voltage patented processes in its technology, which eliminates the need for traditional porous HEPA filters. This results in air purification devices that move air silently, filter, sterilize, and purify the air while consuming less energy than a 60-watt light bulb. The company's devices can be scaled to various shapes and sizes, making them ideal for use in businesses, homes, and vehicles. They are capable of removing allergens down to 14.6 nanometers, making them superior to expensive outdated passive HEPA and other filtration systems.
Kronos has conducted extensive research on the effectiveness of its patented technology on air disinfection, including the destruction of various types of microorganisms, such as Corona Viruses, in different environmental settings. The company's air purifiers have been shown to have high capturing and destruction efficiency for different types of microorganisms, bacteria, and viruses, making them ideal for use in hospitals, schools, universities, healthcare facilities, manufacturing clean rooms, and the cabins of automobiles and commercial aircraft.
Kronos has also made headlines for being the first publicly traded company to accept DOGE coin as a form of payment for its products, as well as other cryptocurrencies. The company has filed for a provisional patent for an innovative protective face mask with antimicrobial and anti-cellphone radiation protection features and plans to file additional patents to improve its existing technology and enter new market segments.
Kronos markets its products under the Airdog® and KRONOS® brands and promises customer satisfaction with its Kronos Promise ™. The company's offices are located in Parkersburg, West Virginia.
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This news release does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Kronos Advanced Technologies Inc or any other third party regardless of whether such security, product, or service is referenced in this press release. Furthermore, nothing in this press release is intended to provide tax, legal, or investment advice, and nothing in it should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Kronos Advanced Technologies does not represent that the securities, products, or services discussed in this press release are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security, or related transaction is appropriate for you based on your personal investment objectives, financial circumstances, and risk tolerance. You should consult your business advisor, attorney, and/or tax and accounting advisor regarding your specific business, legal, or tax situation.
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SOURCE: KRONOS ADVANCED TECHNOLOGIES, Inc
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