Hologic (NSDQ:HOLX) has entered into a multi-year deal to use Google Cloud’s machine learning and deep learning technologies with its Genius digital diagnostics system, a cytology platform that uses volumetric imaging data to identify precancerous lesions and cancer cells of the cervix.
The machine learning and deep learning capabilities from Google Cloud will enable Hologic to build on its more than three decades of experience in cervical cancer screening, according to Kevin Thornal, president of Hologic’s Diagnostic Solutions division. “Enhancing our use of AI with Google Cloud’s machine learning capabilities and cloud architecture is the next natural step in this journey forward,” he said in a statement.
Genius Digital Diagnostics is CE-marked for use in Europe. It is not yet available in the U.S.
The FDA is currently overhauling how it regulates machine learning-based software for medical device applications.
In related news, Hologic recently announced first-quarter financial results for 2021 that showed continued growth in its COVID-19 testing business. The company had 89.3% revenue growth on a year-over-year basis.
SVB Leerink raised its Q4 2021 earnings estimates for the company, while UBS issued a neutral rating for HOLX shares, citing potential declines in COVID-19 testing revenue in the second half of 2021.