TORONTO and DALLAS, May 23, 2025 /PRNewswire/ — Perimeter Medical Imaging AI (TSXV: PINK) (OTCQX: PYNKF), a commercial-stage medtech firm aiming to revolutionize cancer surgery, announced a strategic partnership with Utah-based Intermountain Health, the largest nonprofit healthcare system in the U.S. Intermountain West. The collaboration, formalized through a Development Support Agreement (DSA), will focus on leveraging Perimeter’s advanced optical coherence tomography (OCT) imaging technology and AI algorithms to reduce cancer reoperation rates and improve surgical precision.
The partnership’s first initiative involves a retrospective analysis of breast-conserving surgery (BCS) outcomes across select Intermountain Health hospitals. Researchers will evaluate population-level reoperation rates and associated healthcare costs—a critical step in validating the economic and clinical value of Perimeter’s FDA-cleared S-Series OCT system and its next-gen AI-driven B-Series device, which is currently under FDA review.
“Innovations like Perimeter’s OCT technology could redefine surgical oncology by giving real-time, cellular-level insights during procedures,” said Dr. Teresa Reading, Medical Director of Breast Surgery at Intermountain Health. “This initial study on BCS patients is just the beginning. We’re eager to explore its applications across other tissue types.”
Adrian Mendes, CEO of Perimeter, highlighted Intermountain’s unique position as a fully integrated healthcare provider with its own insurance arm, Select Health. “This allows Intermountain to assess not just clinical outcomes but also the broader economic impact of reoperations—on patients, providers, and payers,” he noted. The data, he added, will inform Perimeter’s commercialization strategy as it navigates the FDA’s premarket approval (PMA) process for its AI-powered OCT system and eyes expansion into new surgical domains beyond breast cancer.
Why It Matters
Cancer reoperations—often necessitated by incomplete tumor removal—carry significant costs. A 2023 JAMA Surgery study estimated that U.S. hospitals spend over $1.2 billion annually on repeat breast cancer surgeries alone. Perimeter’s OCT systems aim to slash these rates by providing surgeons with instant, high-resolution margin assessments during initial procedures, potentially improving patient outcomes while lowering systemic costs.
About the Players
Intermountain Health operates 33 hospitals and 400 clinics across six Western states, serving 4.6 million patients annually through its healthcare network and Select Health insurance division. Known for value-based care models, it has been a leader in piloting cost-effective medical innovations.
Perimeter Medical Imaging AI specializes in real-time surgical imaging tools, with its S-Series OCT already deployed in U.S. operating rooms. Its investigational B-Series device, enhanced by AI for automated tissue analysis, recently completed a pivotal trial supported by a $7.4 million grant from the Cancer Prevention and Research Institute of Texas. The company’s ticker symbol, “PINK,” nods to breast cancer advocacy.
Disclaimer: Perimeter’s B-Series OCT remains investigational in the U.S. and is not yet FDA-approved. The S-Series system, while cleared for general use, has not been specifically evaluated for cancer margin assessment. Forward-looking statements herein involve risks, including clinical trial outcomes and regulatory approvals. For full disclosures, visit perimetermed.com/disclosures.
Image source: Perimeter Medical Imaging AI Inc.
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