- MyFiziq (MYQ) has created a disruptive tech platform to revolutionise the medical imaging market, and the business is now changing its name to reflect its global strategy
- After laying the foundations for an upcoming listing on the NASDAQ, MyFiziq is now rebranding to Advanced Human Imaging (AHI)
- What's more, the company has already reserved its new ticker code on both the ASX and NASDAQ exchanges
- CEO Vlado Bosanac says the new name is the natural next step for the company as it transforms from a fitness app into a true competitor in the field of medical technology
- Importantly, MyFiziq says it is well-funded to hit its goals ahead of a successful NASDAQ listing — meaning there is no new capital raise on the horizon
- By changing its name to Advanced Human Imaging ahead of its NASDAQ listing, MyFiziq is emerging as a prime ASX example of a transformation story
- Investors who join the fray now have the opportunity to witness a game-changer in the medical imaging field first-hand
MyFiziq (MYQ) has created a disruptive tech platform to revolutionise the medical imaging market, and the business is now changing its name to reflect its global strategy.
The body scanning and medical imaging specialist has already laid the foundations for an upcoming listing on the NASDAQ.
Now, MyFiziq is rebranding to Advanced Human Imaging (AHI). What's more, the company has already reserved its new ticker code on both the ASX and the NASDAQ exchanges as it breaks the mould in the lucrative medical imaging sector.
Co-founder and CEO Vlado Bosanac said the new name is the natural next step for the company as it transforms from a primarily fitness-focussed app into a true competitor in the field of medical technology.
"Changing our name from MyFiziq to Advanced Human Imaging is in line with the business' transformation from a body-tracking app to a company with full-fledged medical imaging capabilities and applications," Vlado said.
"It's an important next step for the company as we work towards listing on the NASDAQ, where we will have access to the kind of support and high-quality investment that can only be offered by the world's leading tech exchange," he said.
The name change was overwhelmingly approved by shareholders at an extraordinary general meeting (EGM) today, where the MYQ management team outlined its international strategy.
Shareholders at the EGM approved the name change by almost 57 million votes for to just 3,600 votes against.
Strong balance sheet, shrewd management
Importantly, MyFiziq said it has enough funding to keep moving forward as it achieves its key goals ahead of a successful NASDAQ listing.
"The company is well-funded to meet all of our key objectives as we take this next transformative step for the business," Vlado said.
"We have a strong management team and sufficient resources to keep hitting goals across the board."
As such, MyFiziq reaffirmed that there are no plans for an upcoming capital raise, with all the resources needed for its NASDAQ listing already available.
Crucial imaging from the phone in your pocket
MyFiziq's technology gives users accurate body measurements from the convenience of their phone.
Using nothing more than a smartphone, users can measure the human form across 12,000 data points and analyse key vital markers with an effectiveness usually only available from a medical clinic.
The tech was initially used to track body measurements, weight-to-height ratios and total body fat with up to 97 per cent accuracy, providing crucial assistance in a user's weight loss journey.
The tech has evolved, however, to read biometric markets associated with a range of chronic health conditions like cardiovascular disease, obesity and Type 2 diabetes.
On top of this, the tech can detect subtle skin colour changes to capture key vital signs that signal blood pressure, cardiac load, heart rate, risk of stroke and more.
And with global partnerships with the likes of Canadian skin disease specialist Triage Technologies, Australian biotech Biomorphik, and Chinese medicine and body-scanning company Tinjoy Biotech, the MYQ tech has even further to run.
Now, by changing its name to Advanced Human Imaging ahead of its listing on the NASDAQ, the business is emerging as a prime ASX example of a transformation story.
Investors that supported the company early on have already been richly rewarded, with MyFiziq shares gaining some 2200 per cent since March 2020.
But the best is yet to come for Advanced Human Imaging. Investors who join the fray now have the opportunity to witness a game-changer in the medical imaging field first-hand.