The Volpara Health Technologies Ltd (ASX: VHT) share price jumped over 3% in reaction to some exciting news.
Volpara describes itself as a ‘MedTech Software as a Service’ company that was founded in 2009 on research conducted at Oxford University. Its software is used for screening clinics to provide feedback on breast density, compression, dose and quality. Its VolparaEnterprise business provides role-specific dashboards and wide-ranging benchmarking analytics to help clinics manage their business more efficiently.
Volpara’s Positive News
The company advised that the America Society of Breast Surgeons (ASBrS) has released its official position statement on screening mammography where it made recommendations regarding both how to assess breast cancer risk with breast density as an input and how to act upon such an assessment.
The ASBrS specifically identified the Tyrer-Cuzick Risk Evaluation Tool, version 8, as a suitable model for use in risk assessment, where VolparaDensity is the only commercial breast density measurement tool included.
The four recommendations were that women over the age of 25 should undergo formal risk assessment for breast cancer, women with an average risk of breast cancer should initiate yearly screening mammography at age 40, women with a higher-than-average risk of breast cancer should undergo yearly screening mammography and be offered yearly supplemental imaging and screening mammography should cease when life expectancy is less than 10 years.
Volpara made a separate announcement to say that a study in the official journal of the US Society of Breast Imaging has validated VolparaDensity in the Tyrer-Cuzick breast cancer risk model.
Volpara CEO Dr Ralph Hignam said: “We have seen a large increase in activity and enquiries in the breast cancer risk space recently, and it is good to see that the ASBrS have put forward a position statement that very clearly outlines its recommended approach to breast cancer screening,”
Is Volpara A Buy?
Volpara is clearly making good progress with its financial goals with how much revenue growth it reported in its last quarter.
Anyone who has held Volpara shares for more than a couple of months is doing well, but I’m unsure whether today’s price is good value or not. However, Volpara and the two fast growth ASX shares in the FREE REPORT below could be fun to watch over the next few years.
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