Leading Provider of Prospective Motion Detection and Correction Technology for MRI Charts Strategy to Meet Global Demand
SAN DIEGO, Feb. 17, 2020 (GLOBE NEWSWIRE) -- KinetiCor, Inc., today's only FDA 510(k) cleared optical motion detection solution1 for advanced Magnetic Resonance Imaging (MRI) scanners, is pleased to announce the appointment of Michael A. Jones as Chairman of its Board of Advisors. With over twenty-one years in corporate development, strategy, and M&A experience during his career at General Electric, Mike is chartered to help guide KinetiCor's strategic expansion across the global MRI market.
"We look forward to Michael's guidance and insight as we expand our technical focus and reach to new markets," said Doug Donzelli, CEO of KinetiCor. "The KinetiCor technology is highly-differentiated and offers the potential for powerful improvements to MRI results. Michael's experience at GE, broad industry relationships, and global perspective will help us bring this important advancement in MRI diagnostics to a greater number of patients around the world."
A pioneer in prospective motion detection and correction, the KinetiCor platform offers the potential to improve the MRI experience for patients and technicians, as well as improve the efficiency of MRI operations due to undetected movement. With KinetiCor, physicians can have access to more accurate, high-definition MRI scans the first time, giving them the potential to make more accurate diagnoses and create better patient outcomes. The KinetiCor platform is available today, embedded within Siemens Magnetom MRI systems. The solution offers the potential to reduce costly re-scans resulting from inadequate image results -- issues that could cost hospitals and insurers millions annually.
Mr. Jones brings more than two decades of experience growing GE businesses, and especially GE Healthcare through corporate development, M&A, equity investing, and partnership activities. Under his leadership, GEHC grew from $2B to $18B in annual revenues. Prior to joining GE, Mike spent a decade as an investment banker, focused on M&A advisory and capital raising for global technology companies. Mike graduated from Princeton University with a bachelor's in economics, cum laude, in 1987.
"Movement during MRI procedures is incredibly disruptive and costly. As many as one in five MRI procedures fail due to patient movement, and can cause hospitals to repeat MRI scans, which might cost up to approximately $150,000 per year, per MRI system," said Jones. "I'm excited to participate in bringing KinetiCor's patented motion detection software to more hospitals and patients, and to expand its ecosystem of partners worldwide."
Mr. Donzelli added: "Our platform has the potential to bring a new level of clarity to medical imaging, and is ideally suited to work with all major MRI systems. Adding Mike to our advisory board will help us capitalize on our technical leadership and market opportunity. We are proud to add a proven industry veteran to our ranks and look forward to our future achievements together."
About KinetiCor:
KinetiCor, founded in 2009, is a medical system company dedicated to improving the quality of medical imaging via its patented prospective motion correction technology. The KinetiCor platform is currently FDA 510.
Media Contact:
press@ktcmarketingandpr.com
1FDA 510(k) certification references use in only Siemens Healthineers 1.5T Magnetom Amira and Sempra scanners
