Mr. Adrian Mendes reports

PERIMETER MEDICAL IMAGING AI ANNOUNCES PUBLICATION OF PEER-REVIEWED RESEARCH EXAMINING THE HIGH RATES OF RE-OPERATIONS FOLLOWING BREAST-CONSERVING SURGERIES AND THE ASSOCIATED INCREASED HEALTHCARE COSTS

Perimeter Medical Imaging AI Inc. has released results from a new study published in the Annals of Surgical Oncology that provide a comprehensive and up-to-date understanding of population-level reoperation rates and incremental health care costs associated with patients who require reoperations after undergoing breast-conserving surgery (BCS). Researchers based at the University of Texas Health Science Center and the University of Texas MD Anderson Cancer Center concluded that more attention and continuing efforts should be made to reduce reoperation rates.

Dr. Anthony Lucci, professor of breast surgical oncology at the University of Texas MD Anderson Cancer Center, stated: "We conducted this retrospective study to better define and understand the impacts of reoperation rates on patients undergoing breast-conserving surgery and the related increase in costs. The results of our study demonstrate that high reoperation rates after breast-conserving surgery persist and are correlated with elevated risks and adverse outcomes for patients. I believe that these data underscore the need for new approaches to address high reoperation rates, including better methods of margin assessment for surgeons."

The research team identified 17,129 commercially insured women ages 18 to 64 and 6,977 Medicare beneficiaries age 18 and older who had initial breast-conserving surgery between 2017 and 2019. The one-year follow-up revealed reoperation rates of 21.1 per cent among commercially insured women and 14.9 per cent among the Medicare cohort. These reoperations correlated with a 24-per-cent increase in costs for both the commercial and Medicare cohorts, translating into incremental expenses of $21,607 and $8,559, respectively. Furthermore, reoperations were linked to a 54-per-cent increased risk of complications in the commercial cohort and an 89-per-cent elevated risk in the Medicare cohort.

Adrian Mendes, Perimeter's chief executive officer, stated: "Our work strives to address the significant costs and negative patient outcomes due to reoperations. By providing innovative, intraoperative imaging technologies, our goal is that no patient has to go through the emotional and physical trauma of a second surgery due to cancer left behind."

Financing to support this research was provided, in part, by Perimeter Medical Imaging AI.

About Perimeter Medical Imaging AI Inc.

Based in Toronto, Canada, and Dallas, Tex., Perimeter Medical Imaging AI is a medical technology company driven to transform cancer surgery with ultrahigh-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the United States, its Food and Drug Administration-cleared Perimeter S-Series OCT (optical coherence tomography) system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents the company's next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to $7.4-million (U.S.) awarded by the Cancer Prevention and Research Institute of Texas. The company's ticker symbol PINK is a reference to the pink ribbons used during Breast Cancer Awareness Month.

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