Medtronic (NYSE:MDT) announced today that its Gastrointestinal Business received a contract to install GI Genius systems at some Veterans Affairs (VA) facilities.
The contract comes through a partnership with a Service-Disabled Veteran-Owned Small Businesses (SDVOSB). Medtronic will install 115 GI Genius intelligent endoscopy modules across numerous VA medical facilities in the U.S.
Veterans can now access Medtronic’s artificial intelligence (AI) technology. The company designed it to improve the accuracy of polyp detection in colonoscopy screening. According to a news release, the Veteran’s Health Administration performs approximately 250,000 colonoscopies each year.
“We’re proud to give back to the men and women who have served our country by extending this powerful and proven tool in the fight against colorectal cancer,” said Geoff Martha, Medtronic chair and CEO. “This contract by the VA underpins the critical role technology can play in the lives of patients and furthers Medtronic’s ongoing commitment to providing VA patients and physicians with innovative healthcare solutions.”
About the GI Genius endoscopy module
The GI Genius module received FDA authorization in April 2021. Medtronic said it’s the first-to-market computer-aided polyp detection system using AI to detect colorectal polyps in real-time. This helps physicians diagnose and prevent colorectal cancer. GI Genius serves as “a second set of eyes” for administering physicians, Medtronic says. It provides a 50% reduction in missed colorectal polyps compared to standard colonoscopy.
Medtronic said the system is currently installed at the Richmond McGuire VA Medical Center. It represents the first hospital to incorporate AI into colorectal cancer screenings for veterans. The VA National Gastroenterology and Hepatology Program Office determines installations awarded through the new contract.
“As one of the five most frequently diagnosed cancers among VA patients, the GI Genius module is a cutting-edge AI-assisted technology that can help physicians locate more polyps than with standard colonoscopy alone,” said Giovanni Di Napoli, president of the Medtronic Gastrointestinal Business. “We are proud to be supporting the Department of Veterans Affairs by partnering with SDVOSB companies to deliver this cutting-edge technology to thousands of veterans who have honorably served our nation.”