Algernon to Open the First Brain Dedicated PET Scanning Clinic in the U.S. at the HCA Florida University Medical Office Building

Executive Summary

• Algernon Health Inc. will open its inaugural brain‑PET scanning clinic in Davie, Florida, under a five‑year lease (renewable for an additional five years).
• The clinic will use the FDA‑cleared CareMiBrain™ standalone PET system, offering 25 % lower radiation exposure and targeting the rapidly growing Alzheimer’s disease diagnostic market.
• The launch is part of a broader plan to establish multiple U.S. neuroimaging clinics, supported by a non‑dilutive financing agreement with Catalyst MedTech valued at > CAD $4 million for four initial systems and an option for six more.

Key Details

• Location & Lease: 7630 SW 34th Manor, Davie, FL (HCA Florida University Medical Office Building); five‑year lease with renewal option for another five years.
• Technology: CareMiBrain™ PET scanner (standalone, FDA‑cleared), < 1.6 mm spatial resolution, 25 % less radiation vs. PET/CT, ergonomic design, ~660 lb weight, fits standard wall outlet.
• Market Opportunity: Medicare, Medicaid and private insurers cover beta‑amyloid PET scans for patients 65+. Two FDA‑approved AD monoclonal antibodies (Leqembi, Kisunla) require a positive scan, creating a billion‑dollar market.
• Target Demographics: Within 60 mi radius → >6.4 M people; ~2.5 M aged 50+, the primary referral base for AD diagnostics.
• Financing Agreement: Non‑dilutive deal with Catalyst MedTech for four CareMiBrain™ systems (valued > CAD $4 M) plus option to acquire six additional systems on an adjusted cost basis.
• Business Model: Partnerships with neurologists, geriatricians, primary care physicians; direct marketing to 50+ population; integration of cognitive testing and blood biomarker education.
• Future Plans: Additional clinics slated across the U.S.; official opening date and patient referral start‑date to be announced shortly.

Notable Quotes

“We are very pleased to be opening our first neuroimaging clinic in a brand‑new suite at the HCA Florida University Medical Office Building,” said Christopher J. Moreau, CEO of Algernon. “We look forward to delivering the highest level of care possible to our patients in Florida, as part of a professional healthcare community that is dedicated to medical excellence.”