Resonance Health

What Resonance Health does

Resonance Health is an Australian MedTech company, founded in 2005 and listed on the ASX (ASX:RHT), that develops and commercialises regulated Software as a Medical Device (SaMD) for MRI-based quantitative imaging analysis. Its flagship product, FerriScan, uses proprietary R2-MRI technology to non-invasively quantify liver iron concentration and has become a global gold standard referenced in clinical guidelines for Thalassaemia and Sickle Cell Disease management. The company has progressively transitioned its portfolio from physics-based core-lab analysis toward AI-powered inference, introducing FerriSmart (CNN-based liver iron analysis with real-time results), HepaFatSmart (AI liver fat multi-metric assessment), and LiverSmart (a consolidated AI report combining both), alongside Cardiac T2* for heart iron assessment.

Revenue is generated through three principal streams: (i) clinical trial imaging CRO services sold to biopharmaceutical companies and contract research organisations for multinational multicentre trials, with GCP and FDA 21 CFR Part 11 compliance; (ii) recurring SaMD analysis fees for FerriScan, FerriSmart, Cardiac T2*, HepaFatScan, HepaFatSmart, and LiverSmart, billed under multi-year contracts with pricing provided on request and supported by the FAST cloud-based DICOM transfer portal; and (iii) one-time sales of made-to-order MRI calibration phantoms (FerriScan Phantom, R2*/T2* Phantom, T1CMR Phantom, T2CMR Phantom). All regulated products carry FDA clearance, CE marking under EU MDR 2017/745, UKCA marking, and ARTG registration, with manufacturing and services delivered under ISO 13485:2016.

The company operates a global validated MRI clinic network serving 200+ centres per year through a lean Service Centre team of 12, with an MRI-agnostic platform compatible with Siemens, Philips, and GE scanners. Customers include biopharmaceutical sponsors, CROs, imaging providers/radiology facilities, and clinicians (haematologists, hepatologists). Resonance Health is headquartered in Burswood, Western Australia, with additional co-development partnerships through UCL, Imperial College London, and the T1MES Academic Programme. Leadership combines commercial scale experience (Chairman ex-Gilead Sciences, CEO with prior Enlitic LLC board exposure) with deep technical and regulatory expertise across CXO and VP roles.

Name

Resonance Health

Legal name

Resonance Health Analysis Services Pty Ltd

Website

https://resonancehealth.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Medical Imaging Analytics Software (SaMD)

NAICS

Medical Equipment and Supplies Manufacturing (3391), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Medical and Diagnostic Laboratories (62151), Scientific Research and Development Services (5417)

SIC

Services-Medical Laboratories (8071), Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Medical Imaging AI (HDAAAEAH)

akta.pro secondary industries

AI Orchestration & Imaging Analytics Platforms (Model Management/Triage) (HLACALAG), Imaging Informatics & Workflow (PACS/RIS/VNA) (HLAHABAI), Universal Viewers & Enterprise Imaging Access (Zero-footprint/Diagnostic) (HLACALAD)

Keywords

• Medical imaging software
• MRI image analysis
• Liver iron quantification
• Cardiac iron assessment
• Hepatic steatosis analysis

Headquarters

HQ city

Claremont

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Clinical Trial Imaging Services: Quantitative imaging CRO services for multinational and multicenter clinical trials worldwide. Provides standardised analysis across multiple clinical trial sites with regulatory clearances including FDA and CE-mark.
2. Diagnostic Imaging Analysis (SaMD): Post-MRI analysis products for diagnosis and management of patients. Includes FerriScan, Cardiac T2*, FerriSmart, HepaFatScan, HepaFatSmart, and LiverSmart sold as Software as a Medical Device.
3. Phantom Products: Sale of MRI calibration and quality assurance phantoms including FerriScan Phantom, R2*/T2* Phantom, T1CMR Phantom, and T2CMR Phantom. Phantoms are made-to-order products.
4. User Registration and Scanner Verification: Fees for user registration, scanner setup verification, and ongoing service access through FAST portal. Pricing provided upon request and confirmed at execution.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Resonance Health develops and delivers regulated, AI-powered MRI-based Software as a Medical Device (SaMD) for the non-invasive quantification of liver iron concentration, cardiac iron loading, and liver fat, alongside MRI calibration phantoms and clinical trial imaging CRO services. Its flagship products (FerriScan, FerriSmart, HepaFatScan, HepaFatSmart, LiverSmart, Cardiac T2*) are sold to clinicians, validated MRI imaging centres, biopharmaceutical companies, and CROs worldwide. Services are accessed through a cloud-based FAST portal and supported by an ISO 13485-certified quality management system.

Product overview

Resonance Health offers a portfolio of regulated medical imaging analysis Software as a Medical Device (SaMD) products for MRI-based diagnosis and management of patients with iron overload and liver conditions. The core regulated products include FerriScan (original R2-MRI technology for liver iron concentration), FerriSmart (AI-powered liver iron analysis), HepaFatScan (MRI-based hepatic steatosis evaluation), HepaFatSmart (AI-powered liver fat assessment), LiverSmart (combined AI platform integrating FerriSmart and HepaFatSmart), and Cardiac T2* (MRI-based heart iron assessment). Supporting these products are MRI calibration phantoms (FerriScan Phantom, R2*/T2* Phantom, T1CMR Phantom, T2CMR Phantom). Additionally, the company offers investigational use only products including LungSmart, OrganFe-Scan, OrganFat-Scan, BoneMarrowR2, and OrganVolume for clinical trials. All regulated products have FDA clearance, CE marking (EU MDR 2017/745), UKCA marking, and ARTG registration.

Differentiator

Problem solved

Functional benefit

Brands

• FerriScan: Non-invasive MRI-based solution for quantifying liver iron concentration across the full clinical spectrum
• FerriSmart
• HepaFatScan
• HepaFatSmart
• LiverSmart
• Cardiac T2*

Products and services

• FerriScan Non-invasive MRI-based solution for quantifying liver iron concentration (LIC) across the full clinical spectrum. The global gold-standard for LIC quantification, recommended in multiple clinical patient management guidelines for Thalassemia and Sickle Cell Disease. FDA cleared, CE marked, UKCA marked, and ARTG listed.
• FerriSmart AI-powered automated solution for quantifying liver iron concentration across the full clinical spectrum through MRI scanning. Report generated in real time, providing clinicians with instant reliable data for diagnostic and treatment decisions. FDA cleared, CE marked, UKCA marked, and ARTG listed.
• HepaFatScan MRI-based solution for evaluating hepatic steatosis with high diagnostic accuracy. Provides a comprehensive multi-metric report including PDFF (Proton Density Fat Fraction), VLFF (Volumetric Liver Fat Fraction), and Steatosis Grade. Single breath hold imaging protocol takes less than 15 seconds. FDA cleared, CE marked, UKCA marked, and ARTG listed.
• HepaFatSmart Automated AI-powered multi-metric assessment of liver fat. Provides comprehensive report including PDFF, VLFF, Steatosis Grade and Liver Fat Distribution Map. FDA cleared, CE marked, UKCA marked, and ARTG listed.
• LiverSmart AI-powered solution for liver multi-metric measurements that combines FerriSmart and HepaFatSmart into a single consolidated report. Combines liver iron and fat analysis for comprehensive assessment. FDA cleared and ARTG listed.
• Cardiac T2* MRI-based method for assessing iron loading in the myocardium (heart). The most widely accepted MRI-based method for heart iron assessment. Used for assessing risk of cardiac failure or arrhythmia and managing iron chelation therapy. FDA cleared, CE marked, UKCA marked, and ARTG listed.
• FerriScan Phantom Sealed pack of vials containing standardized concentrations of manganese chloride (MnCl2) solution designed to replicate liver iron loading range. Used for MRI scanner initial setup verification to ensure correct sequence settings. FDA Cleared, UKCA Marked, CE Marked and ARTG listed.
• R2*/T2* Phantom Phantom designed for correct verification of scanner configuration for Cardiac T2* and Spleen T2* services. FDA Cleared, UKCA Marked, CE Marked and ARTG listed.
• T1CMR Phantom T1MES phantom for T1 and ECV mapping standardization and quality assurance of MRI scanners. Available for 1.5T and 3T scanners. Designed by experts including cardiologists, physicists, engineers and national metrology institutes. FDA Cleared, UKCA Marked, CE Marked and ARTG listed.
• T2CMR Phantom T2MES phantom for T2 and ECV mapping of MRI scanners. Designed for use interchangeably at both 1.5T and 3T, reflecting clinically relevant native and post-GBCA T2 in myocardium. FDA Cleared, UKCA Marked, CE Marked and ARTG listed.
• Clinical Trial Imaging CRO Services Quantitative imaging CRO services for biopharmaceutical companies and CROs conducting multinational and multicenter clinical trials in metabolic diseases, liver diseases, and iron overload disorders. Services include project management, site setup with phantom verification, imaging charter development, GCP and 21 CFR Part 11 compliance, and standardised analysis across trial sites.

Quantifiable outcome

• FerriScan provides accuracy and precision better than liver biopsy for liver iron concentration measurement
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature7 records

Partnerships

Four partnerships are on record, tiered core.

• Prof James C Moon (University College London)coreStrategic or Co-development PartnerCollaborated with Prof James C Moon from University College London on development of T1CMR (T1MES) phantom. Led development of quality assurance medical device system for T1 mapping.
• Dr Peter Gatehouse (Imperial College London)coreStrategic or Co-development PartnerCollaborated with Dr Peter Gatehouse from Imperial College London on T1CMR and T2CMR phantom development. Key expert in Cardiovascular Magnetic Resonance (CMR) T1 and T2 mapping standardization.
• Dr Gabriella Captura (University College London)coreStrategic or Co-development PartnerCollaborated with Dr Gabriella Captura from University College London on T1CMR and T2CMR phantom development. Part of T1MES Academic Programme team.
• T1MES Academic Programme (International CMR Centres)coreStrategic or Co-development PartnerInternational academic programme engaging Cardiovascular Magnetic Resonance centres worldwide for T1 and T2 mapping standardisation. Development initiated and tested by global CMR centres.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Arterys: Cloud-based medical imaging AI platform for cardiac and oncology MRI/CT analysis. Shares MRI-centric AI positioning, SaaS delivery model via cloud portal (similar to Resonance Health's FAST), and FDA-cleared SaMD portfolio with Resonance Health.
• Quibim: Spanish-based AI imaging biomarker company providing quantitative MRI analysis for liver, prostate, brain, and musculoskeletal applications. Direct competitor in non-invasive liver fat and iron quantification for clinical trials and routine care.
• Perspectum Diagnostics: UK-based MedTech specializing in MRI-based liver diagnostics (LiverMultiScan for fibrosis, steatosis, and iron). Direct competitor to HepaFatScan/HepaFatSmart in the non-invasive liver assessment market with similar quantitative biomarker focus.
• Circle Cardiovascular Imaging: Canadian provider of cardiovascular MR post-processing software (cvi42). Competes with Resonance Health's Cardiac T2* for CMR analysis and shares the same clinical channel of radiologists and cardiologists.
• Echosens: France-based MedTech offering FibroScan for non-invasive liver assessment (fibrosis and steatosis). Competes for the same clinician decision points (NAFLD/NASH, hepatitis, iron overload) using a different modality (transient elastography vs MRI).

Broad incumbents

• Siemens Healthineers: Global MRI scanner OEM with growing in-line AI imaging analytics. As a scanner vendor bundling native liver/cardiac analysis features, represents potential platform competition to Resonance Health's third-party core lab model.
• GE HealthCare: Global MRI and ultrasound OEM with Edison AI platform covering liver and cardiac imaging. As a scanner manufacturer with built-in quantification features, competes indirectly with Resonance Health's MRI-agnostic products by offering integrated solutions.

Emerging players

• HeartFlow: US-based cardiac diagnostic AI (FFR-CT for coronary disease). Overlap with Resonance Health's Cardiac T2* in the CMR/cardiomyopathy workflow and shared regulatory pathway (510(k), QSR). Competes for cardiology department budget and clinical workflow.
• Olea Medical: France-based AI imaging analytics for brain MRI with strong post-processing capability. Adjacent space to Resonance Health's organ-specific AI products but shares regulatory pathway (FDA, CE), SaMD positioning, and cloud-based delivery model.
• Enlitic: US-based medical imaging AI company. Resonance Health CEO Andrew Harrison previously served on the Enlitic board. Enlitic's broader radiology AI platform competes with Resonance Health's organ-specific AI approach for the same healthcare system AI budgets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/resonance-health-ltd
• Xx.com/resonancehealth

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Resonance Health