Satisfai Health Appoints Fort Capital as Financial Advisor & Announces the Appointment of VP, Regulatory Affairs and Quality Assurance
Vancouver, British Columbia, Canada - TheNewswire - January 31, 2022 - Satisfai Health Inc. (the “Company” or “Satisfai Health”), a leading medical company providing artificial intelligence solutions in the field of Gastroenterology, has signed an engagement letter appointing Fort Capital Partners as a Financial Advisor to the Company. This appointment is in connection with the Company’s recent launch of its Series A private placement offering of common stock, the proceeds from which will be used to complete certain strategic technology acquisitions and continue to fund the build out of Satisfai’s Health’s AI team to deliver on the Company’s mission to become the global leader in providing AI solutions in Gastroenterology and GI Endoscopy.
Satisfai Health has already achieved notable success in this domain as a founding member of the ai4gi joint venture, through its license & co-development agreement with Olympus Corporation of the Americas in relation to applying artificial intelligence solutions to help practitioners better diagnose colon polyps during screening for colorectal cancer.
Satisfai Health continues to extend its reach in terms of developing AI tools in Gastroenterology towards clinical applicability and commercialization using its extensive networks for data procurement, curation, annotation, and advocacy via the global clinical leaders working with Satisfai. Over the past twelve months, the Company has made significant advancements in the development of its clinical AI tools in the field of inflammatory bowel disease (for ulcerative colitis (“UC”) and Crohn’s Disease), including new AI models which provide automated scoring systems to assess disease severity in UC patients (utilizing Mayo and UCEIS scores), and has also developed AI tools to clinically support the detection and optical diagnosis of dysplasia and other types of early upper GI cancer such as Barrett’s Esophagus.
“We are very pleased to engage the services of Fort Capital,” said Dr. Michael Byrne, CEO and founder of Satisfai Health. “Fort Capital is a successful boutique investment bank which understands our business and long-term vision to grow our Company. They have an extremely competent group of professionals who are very dedicated to their clients with a proven track record for raising capital for growth-oriented companies. Fort Capital will be a very important partner for Satisfai Health moving forward.”
“We are delighted to help support Satisfai Health Inc in completing its Series A financing,” said Dave Bustos, managing partner and founder of Fort Capital. “We embrace the Company’s vision to become a world leader in developing diagnostic and clinical support AI tools in the field of GI medicine. This Series A financing will provide the capital necessary for Satisfai to further develop, commercialize, and accelerate the growth of its new technologies.”
It is anticipated that the Series A offering may be placed with more than one investor, including strategic partners, institutional investors, and accredited investors. The offering will be managed by Fort Capital Securities Ltd., an exempt market dealer and wholly owned subsidiary of Fort Capital Partners.
Appointment of New VP, Regulatory Affairs and Quality Assurance
Satisfai Health is also pleased to announce the appointment of Ms. Vesna Janic as Vice President, Regulatory Affairs and Quality Assurance. Vesna brings over 20 years of experience in a variety of senior management roles in life sciences and medical device companies. She has held numerous progressively senior positions at Starfish Medical, ViVitro Labs, Levo Medical, Cantest Ltd. and BC Research Inc. Vesna brings great technical knowledge and analytical skills, experience in implementing RA/QA processes for complex organizations, and strong leadership skills. Her primary responsibilities within Satisfai Health will include enhancing our in-house regulatory capabilities, managing ongoing clinical trial processes, overseeing current AI projects which are in various stages of applying for UKCA, CE and FDA approvals. Vesna will also oversee ISO 13485 certification for the Company and ensure Satisfai remains compliant with all FDA Quality System Regulations, EU Medical Device Regulations and Health Canada Regulations. Vesna holds a Bachelor of Science Degree in Biology from the University of Belgrade, Serbia and is a Registered QA Professional in GLP-RQAP (Good Laboratory Practices) as well as being a Certified ISO 13485 Lead Auditor.
“We are excited to have Vesna join our team. Her knowledge, expertise, and 20 years’ hands-on experience leading large regulatory and quality assurance teams will be invaluable to the Company as we continue to execute on our mission to bring AI driven precision endoscopy support tools to the GI marketplace around the world,” said Dr. Byrne.
“The opportunity to join the Satisfai Health team is very exciting for me given the Company’s growth potential and already proven innovations in the field of Gastroenterology and GI Endoscopy. I look forward to working with the team, and our external partners, in adding value to our projects and helping execute on the Company’s product roadmap in Europe, North America and the rest of the world,” said Vesna Janic.
On behalf of the Board of Satisfai Health Inc.
"Dr Michael F. Byrne"
Chairman & CEO
About Satisfai Health Inc.
Satisfai Health Inc. is a leading medical solutions provider specializing in AI applications applied to large addressable markets in Gastroenterology. Its solutions deliver real-time analysis of medical imagery and provide clinicians with real-time decision-making intelligence that dramatically improves patient outcomes. Satisfai Health is supported by a highly respected board of medical clinicians and key opinion leaders who operate at the top of their fields in the many areas of Gastroenterology and provide the Company with access to high quality medical data and imaging while also ensuring it focuses on the clinical problems with the widest market appeal. Satisfai Health enjoys a strong voice on academic panels and leading GI societies as well as direct access to very large industry players seeking to adopt new AI technologies in Gastroenterology.
Satisfai Health is a founding member of “ai4gi”, which has a commercial joint venture with Olympus Corporation of the Americas to develop and commercialize AI solutions for real-time clinical decision support during colonoscopy.
About Fort Capital Partners
With offices in Vancouver, Toronto, and Calgary, Fort Capital Partners is one of Canada's leading independent investment banking advisory firms. Our model marries the rigour of the largest investment banks with the nimbleness and common sense of a boutique advisory firm. We provide clients with proven, accessible, and independent investment banking advice and transaction execution. Over the past five years, Fort Capital has advised clients on the formation of over $2 billion of growth equity and over $35 billion of M&A activity. For more information, visit www.fortcapital.ca.
Fort Capital Partners Contacts:
Dave Bustos, Managing Partner
Satisfai Health Contacts:
Dr. Michael Byrne
Chairman & CEO
Phone: +1 604 512 1388
Notice on Forward Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the engagement of Fort Capital or the Company’s other business initiatives. Often, but not always, forward-looking statements or information can be identified by the use of words such as "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.
With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions of the Company and the market in which it operates. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the medical device industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to unanticipated operational difficulties (including failure of technology or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); changes in general economic conditions or conditions in the financial markets; changes in laws; risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions; the ability to obtain financing as required, including completion of a Series A financing; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.