Three ASX healthcare shares that have recorded particularly strong gains are listed below. Here's why they are getting investors excited:

Advanced Health Intelligence Ltd (ASX: AHI)

The Advanced Health Intelligence share price is up 20% to 24 cents. That's despite there being no news out of the health software company. However, it is worth noting that the company's shares on the NASDAQ rocketed higher overnight. Advanced Health Intelligence recently underwent a reverse split with its US-listed shares in order to remain compliant with listing rules after trading below $1 for 33 consecutive business days.

Atomo Diagnostics Ltd (ASX: AT1)

The Atomo Diagnostics share price is up 100% to 7.1 cents. Investors have been buying this integrated rapid diagnostic test (RDT) device provider's shares this week after a major shareholder increased its holding. GZ Family Holdings has almost doubled its holding since the middle of May to approximately 79.8 million shares. This gives it a 13.98% stake in the ASX healthcare share. Last month, the company entered into an exclusive supply agreement with UK-based company Newfoundland Diagnostics for HIV rapid testing in Europe.

Lumos Diagnostics Holdings Ltd (ASX: LDX)

The Lumos Diagnostics share price is up 71% to 12.5 cents. This latest gain means this ASX healthcare share is now up approximately 1,000% over the last two trading sessions. The catalyst for this has been the granting of US FDA clearance to market its FebriDx rapid, point-of-care test in the United States. FebriDx is to be marketed for use by healthcare professionals as an aid in the diagnosis of bacterial acute respiratory infection.

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The AHI share price is currently 17 cents, down 57%. Yesterday it roared 370.6% higher to 40 cents on news of a capital raising.

Let's review what's happening.

What's going on with the AHI share price?

The human imaging company went into a trading halt yesterday before announcing a $5 million private placement with international institutional investor Orca Capital GMBH.

AHI will issue 20 million new shares to the venture capital firm at a price of 25 cents per share.

The issue represents a 194% premium to the closing AHI share price on Friday of 8.5 cents.

Hence the massive spike in the AHI share price yesterday to a new 52-week high of 40 cents.

Why is this investor paying a premium?

There has been no formal explanation for the price premium from AHI or Orca. However, as Orca is a venture capitalist firm, it clearly sees a bright future for this ASX micro-cap share.

Advanced Health Intelligence owns a patented digital healthcare technology app that enables the diagnosis of various conditions on a smartphone using artificial intelligence and data science.

The app can scan a body and assess risks of diabetes and cardiovascular disease and can recognise 588 skin conditions, including melanoma.

It's worth noting that while 25 cents is a premium today, AHI appears to expect its share price to rise over the next two years if its deal with book manager Evolution Capital is anything to go by.

Evolution acted as the sole book-running manager for the capital raise. Part of its remuneration is 2.5 million options at an exercise share price of 35 cents to expire two years from the date of issue.

What will AHI use the funds for?

According to a statement, AHI will use the funds for business development and marketing, general corporate purposes, working capital, and possibly investing in or acquiring other businesses "that are synergistic with or complimentary to our technologies … .

Advanced Health Intelligence is raising a further $10 million in funds via a convertible note facility. These plans were announced to the market on 28 April.

The company says it has raised $1.976 million via the facility so far.

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While the All Ordinaries Index (ASX: XAO) is up a respectable 0.64% in mid-afternoon trading, the S&P/ASX All Technology Index (ASX: XTX) has gained more than twice that much, up 1.4%.

But that's chicken feed compared to the 96% gain posted by human imaging company Advanced Human Imaging Ltd (ASX: AHI).

The ASX tech share leapt higher on open and kept marching to 24.5 cents until entering a trading halt this afternoon.

In an announcement to the ASX, Advanced Human Imaging said: "The Company requests a trading halt immediately, in response to the ASX pricing letter dated 30 August 2022 and pending the release of an announcement in relation to a material acquisition."

What's spurring investor interest?

The Advanced Human Imaging share price closed flat at 12.5 cents yesterday after releasing a non-price sensitive announcement before market open.

The ASX tech share updated the market on the completion of its Master Services Agreement (MSA) with Estonia-based digital health provider Activate Health OÜ.

According to the release, Activate Health has built the world's first AI-driven digital therapeutics platform for metabolic syndrome. Their technology has now been integrated with Advanced Human Imaging's MultiScan SDKs to identify early indications of chronic disease risk.

The company said Activate Health will purchase a block of 4,000 of its FaceScans and a block of 4,000 BodyScans for €22,960 (AU$33,330).

Commenting on the MSA, strategy lead of Advanced Human Imaging Vlado Bosanac said:

The combination of the AHI solution will provide a far deeper insight of the users within the Activate digital therapeutics platform. The AHI solution will empower the Activate platform with the ability to identify chronic disease risk, for the early intervention, allowing Activate to intervene and assist their consumers with better health outcomes.

We are delighted to be involved with such an innovative company, based in the world's leading digital health community, and look forward to making a positive impact on Europeans' longevity of life, health and wellbeing.

In yesterday's release, the ASX tech share noted that its AHI solution will launch in the Netherlands "in the coming weeks" with an update to "be provided once the product is launched by Activate".

How has this ASX tech share been performing?

Despite its gains today, the Advanced Human Imaging share price remains down 73% year to date. Over the past 12 months, the ASX tech share is down an even more painful 82%.

Though you're unlikely to hear investors who snapped up shares yesterday complaining.

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Whilst Australian benchmarks like the S&P/ASX 200 Index (ASX: XJO) have snapped back in the past month of trade, the tech index has failed to enjoy such a luxury.

Instead, the S&P All Technology Index (ASX: XTX) started the year up at 2,984 and slipped down to 2,536 by the quarter's end, eventually booking a 15% loss.

Now as yields on government bonds – also used as the discount rate in share valuations – surge past 3% for the first time in years, pressure remains on heavily volatile tech shares at present.

The trend's been in situ since trade restarted back in January, and there have been some seriously underwhelming performances in that time. Here's a look at the laggards in the tech industry from last quarter.

Last place in from March quarter goes to…

Undoubtedly there was some serious carnage last quarter for ASX tech shares. Taking the bottom 41 names in descending order, as a group, the average loss was 31.84% whilst the median loss (exactly in the middle) was 28.43%.

Leading the way was Cettire Ltd (ASX: CTT) with a stunning 68% loss for the three months, whilst Advanced Human Imaging Ltd (ASX: AHI) also lost 67%.

Sezzle Inc (ASX: SZL) wasn't far behind printing a 55.5% backstep for the quarter, whilst Marley Spoon AG (ASX: MMM) topped out the number 10 spot, with a 46% slippage.

In fact, checking a list of the top and bottom performing ASX tech names provided by Bloomberg data, the two top performing names were Brainchip Holdings Ltd (ASX: BRN) and Computershare Ltd (ASX: CPU) at 42% and 24.80% respectively.

However, there were only 6 names that finished in the green, with all the other tickers posted in the top and bottom performing stocks each falling deep into the red.

As a basket, tech shares have been weighed down by a number of non-specific macroeconomic catalysts. Most easy to see is the rotation out of growth and tech shares back into defensible such as mining and financials.

But there's more at play, as we've now got the first conflict in Europe in decades, and let's not forget that crazy little virus called COVID-19.

With the current commodity inflation, backed by the prospects of rising interest rates, this only adds fuel to the fire in these two industries, which appear to have stolen the gains tech shares posted last year.

Not only that, but the tech industry's earnings per share (EPS) are also the lowest in the last 7 years for the segment, according to Bloomberg data.

It remains to be seen where the direction of earnings will go from here.

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• It's been a tough month for the Advanced Human Imaging share price
• In that time, the company has announced a new binding term sheet and released its quarterly report
• Its stock might have also been impacted by the tech sector's struggles

The Advanced Human Imaging Ltd (ASX: AHI) share price has tumbled over the last 30 days.

It has slumped from 99 cents this time last month to trade at 42 cents today. That represents a 57% dip and includes today's 11% plummet.

For context, the broader market has also fallen over the last month, but not nearly as severely. The S&P/ASX 200 Index (ASX: XJO) has fallen 6.9% while the All Ordinaries Index (ASX: XAO) is down 7.1%. They are down 0.3% and 0.5% respectively today.

Let's take a look at what might be dragging the imaging software creator's shares downwards.

What's weighing on the Advanced Human Imaging share price lately?

It's been a rough few weeks for the Advanced Human Imaging share price despite the company's silence for most of the last month. However, over the last 7 days, it has released 2 price-sensitive announcements to the market.

First, the company announced it had signed a binding term sheet with digital health provider Activate Health OÜ.

The term sheet will see Activiate integrating the AHI MultiScan digital health solution into its Estonian medical device platform.

Additionally, the company released an update on its performance over the December quarter on Monday.

Advanced Human Imaging listed on the Nasdaq Index last quarter. The company ultimately ended up raising around US$12 million through its United States IPO.

It also noted progress on products made by Nexus-Vita and Tinjoy using its CompleteScan platform.

So far, the company has received US$100,000 for work to integrate its Complete Span platform into Nexus-Vita's offering. However, Tinjoy's launch has been dampened by China's government's COVID-19 strategy.

Finally, in non-price sensitive news, Advanced Human Imagining announced the signing of another binding term sheet yesterday, this time with South Africa-based Vertica Health. It will see Vertica Health integrating the AHI MultiScan SDKs.

However, the tech sector's movements might have helped weigh down the Advanced Human Imagining share price over the last month.

While the ASX 200 has undoubtedly fallen, the S&P/ASX 200 Information Technology Index (ASX: XIJ) has tumbled 23%, including today's 6% fall.

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Shares are swapping hands at $1.10 at the time of writing, up 27.5% since the close of trade on Monday.

Advanced Human Imaging is a company developing human scanning technology for smartphones.

What's the latest?

The Advanced Human Imaging share price was off and racing last week with no new news released.

The company listed on the Nasdaq in November, so let's take a look at its recent performance on the United States exchange for more perspective.

Shares in the company's US-listed ticker (NASDAQ: AHI) surged 36.2% on the first trading day of the week in the US to $6.02.

Also on Monday, the company informed investors it had accelerated the rollout of new technology as a result of the COVID-19 pandemic and the need for access to remote care.

The company has developed patented technology that enables people to check, track and assess health data using a smartphone "via the combining of body dimensions, body composition and vital signs".

Advanced Human Imaging said it has improved its mobile-device risk assessment, advanced 2D-3D capturing and was now offering real-time personalised health data.

The company will also launch derma scanning on the skin using artificial intelligence at a Las Vegas technology conference in January 2022.

What did management say?

CEO Vlado Bosanac said:

We accelerated the rollout due to the increase we have seen in the telemedicine and telehealth industry due to the COVID-19 pandemic.

We are addressing an immediate need posed by incoming enquiries and new partner opportunities across the health, mHealth and insurance sector.

Advanced Human Imaging share price snapshot

It has been a bumpy ride for the company of late. The Advanced Human Imaging share price has lifted 10% in the past 12 months but is down around 14% this year to date.

In contrast, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned nearly 10% in the past year.

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At the time of writing, shares in the company are in incredible shape with a gain of 46.4% to 93 cents apiece. Investors would be hard-pressed to find a better-performing investment on the ASX today.

Oddly, the fitness tracking technology company is making this move without any announcements being released. However, the Advanced Human Imaging share price experienced a similar 44% pop in its US-listed shares overnight.

Let's take a closer look at what's been happening.

US market sets pace for Advanced Human Imaging share price

Often Australian shares that have a sibling in the United States via another listing move in sync with each other. A good example of this has been Afterpay Ltd (ASX: APT) and Square Inc (NYSE: SQ) since the two are now connected through a proposed acquisition. In this situation, it has worked in favour of the Advanced Human Imaging share price.

The company's US-listed counterpart enjoyed a 44% surge in value overnight. Although, it's hard to say what caused the considerable rise. The only information released prior to the surge was shared with Aussie investors yesterday morning. This involved the ASX-listed AHI concluding definitive agreements with digital health provider Cubert Inc.

In short, the agreement will see AHI's technology integrated into Cubert's FitTrack MyHealth app. This preventative health screening app has a global audience of more than 800,000 active users. Notably, the app is supported and used by a number of celebrities including Khloe Kardashian.

Commenting on the news, Advanced Human Imaging CEO and co-founder Vlado Bosanac said:

Marius and his team at FitTrack will target a February 2022 launch of the combined application, whilst in most cases this would be an aggressive target when looking at the available time, Cubert has an 80-strong development team that will focus on this specific deliverable.

The US-listed American Depositary Shares (ADS) in Advanced Human Imaging are still down from their initial public offering (IPO). Initially, the ADS were issued at US$5.52, while the current price for AHI's US-listed shares is US$4.48.

Meanwhile, the Advanced Human Imaging share price on the ASX is down around 23% this year to date.

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Investors sold Advanced Human Imaging following the completion of its US initial public offering (IPO), where it raised capital from the public to fund its expansion plans.

Here are the details.

What did Advanced Human Imaging announce?

Advanced Human Imaging has "patented a proprietary dimensioning technology that enables its users to check, track, and assess their dimensions using only a smartphone both privately and accurately".

It has recently grown operations, securing contracts in the US earlier this year, amongst other progress. However, don't forget that companies must put up capital to finance each move up the growth chain.

As such, companies are often faced with a capital budgeting decision in their expansion plans. It is a 3-pronged decision that weighs up using cash from the balance sheet, issuing company bonds/debt, or raising more capital from investors.

Often, public companies will issue new shares on international exchanges to raise more capital from investors. With its success to date, Advanced Human Imaging looked to the US capital markets to do just that.

Today the company announced the closing of its US IPO, where it sold 1,000,000 "units" at a price of US$10.50 per "unit" to fund its growth engine.

Each unit consists of two American Depositary Shares (ADS), plus a single warrant to purchase one ADS. Each ADS represents 7 ordinary shares in Advanced Human Imaging.

The company's warrants are exercisable immediately, expire three years from the date of issuance and have an exercise price of US$5.52 per ADS.

The ADSs and warrants were issued separately and represented a price of $5.24 per ADS and $0.02 per warrant.

For reference, a warrant is a type of derivative that gives investors the right – but not the obligation – to purchase a company's shares, at a specific price, on a specific date.

Equity warrants are very similar to option contracts, but they differ in a few ways. For example, when a warrant is exercised, one receives shares from the company itself – not from another investor, unlike with a stock option.

Each of Advanced Human Imaging's ADSs began trading on the Nasdaq from 19 November under the symbol "AHI".

Advanced Human Imaging plans to use the net proceeds primarily for research and product development and business development. The leftover funds will be used for general corporate purposes.

What else was announced?

Further to the IPO announcement, the company followed up with a separate announcement on agreements it has with Asia Cornerstone Asset Management (ACAM) and iConcept Global Growth Fund (iCGGF).

The release notes that convertible note subscription agreements with ACAM and iCGGF have been settled by mutual agreement.

The Company has agreed to issue 2,271,834 fully paid ordinary shares in ADSs to ACAM and 738,576 ADS's to iCGGF as final settlement of all claims under or in connection with the agreements.

Advanced Human Imaging share price snapshot

The Advanced Human Imaging share price has fallen almost 18% into the red from January 1 this year. Yet, despite this, it has climbed around 12% in the past 12 months.

Zooming in and we see that Advanced Human Imaging shares are down 14% in the past month and have slipped over 16% in the past 12 months.

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The trading halt comes weeks after the body imaging technology developer declared it intends to list on the United States index.

The Advanced Human Imaging share price is currently frozen at $1.20.

Let's take a closer look at today's news of Advanced Human Imaging.

Why are the company's shares halted?

Advanced Human Imaging's shares are expected to be frozen until the company releases news on its potential Nasdaq listing or the ASX opens on Monday, whichever comes first.

As The Motley Fool Australia reported on 1 November, the company has received conditional approval to list its American depositary shares on the tech-heavy stock market.

In requesting its shares be frozen, Advanced Human Imaging stated it's preparing to release details of its plan to raise capital by selling American depositary shares and simultaneously listing them on the Nasdaq index.

Each American depositary share will represent a certain number of the company's ordinary shares.

Previously, the company suggested it will offer its American depositary shares for between US$7 and US$9 apiece. That's based on the assumption they will each represent 9 ordinary shares.

Advanced Human Imaging previously stated it hoped to raise $15 million through the offering.

The raised cash will go towards research and development of the company's products, business development, and marketing.

Any remaining funds will go towards general corporate expenses, including potentially investing in or acquiring synergistic companies.

Advanced Human Imaging share price snapshot

It hasn't been a great year so far for the Advanced Human Imaging share price.

It is currently 6% lower than it was at the start of the year. However, it has gained 29% since this time last year and 5% in the last 30 days.

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At the time of writing, the human scanning technology provider's shares are down 10.71% trading at $1.00.

ASX company eyes US entry

In today's statement, Advanced Human Imaging advised it was gathering support for its US-based initial public offering (IPO).

The company received conditional approval from the Nasdaq to list its American depositary shares (ADS). However, it is not known yet how many shares in total will represent the number of ordinary shares already listed.

Based on a price range of US$7.00 to US$9.00, the company is looking to offer 1 ADS for every 9 ordinary Advanced Human Imaging shares. This is subject to market conditions and may change, including the size of the offer. The company is hoping to raise US$15 million from investors.

Maxim Group LLC has been appointed as the sole book-running manager, and will oversee the listing.

Advanced Human Imaging submitted an updated public filing the F-1 form to the Securities and Exchange Commission (SEC). The F-1 form is the registration required for foreign companies wanting to be listed on a United States stock exchange.

About the Advanced Human Imaging share price

The Advanced Human Imaging share price has fallen almost 20% in 2021 so far. When zooming out to the past 12 months, its shares have flatlined, down 2% for the period.

It's a stark contrast to when the company's shares were trading above the $2 mark during early March 2021.

Advanced Human Imaging has a market capitalisation of roughly $136.92 million, with approximately 136.92 million shares on issue.

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Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Advanced Human Imaging Ltd (ASX: AHI)

The Advanced Human Imaging share price has tumbled 10% to $1.00. This morning the software company announced plans to raise US$15 million. The proceeds will be use research and development, business development, and marketing. The remainder of the proceeds will be used for general corporate purposes. This could include investing in or acquiring synergistic companies that are complementary to its technologies and working capital.

ResMed Inc. (ASX: RMD)

The ResMed share price is down 5% to $35.27. This decline appears to have been driven by a lukewarm response from brokers to last week's quarterly update. This morning Macquarie retained its neutral rating and lifted its price target ever so slightly to $38.00. While it was pleased with its performance during the quarter, it feels its shares are close to full value now.

Western Areas Ltd (ASX: WSA)

The Western Areas share price is down almost 3% to $3.07. This morning the team at Citi reduced their FY 2022 earnings estimates for this nickel producer following its first quarter update. The broker has, however, held firm with its neutral rating and $3.40 price target.

Westpac Banking Corp (ASX: WBC)

The Westpac share price is down 6.5% to $24.01 following the release of its full year results. Although the banking giant doubled its cash earnings in FY 2021, this was still a touch short of expectations. In addition, a softening net interest margin and smaller than expected share buyback appear to be weighing on its shares. In respect to the latter, Australia's oldest bank announced a $3.5 billion off-market share buyback. A note out of Morgans reveals that its analysts were forecasting a $5 billion buyback

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Today's news means the company's DermaScan AI device can now be used in 27 European Union (EU) countries.

Advanced Human Imaging developed the smartphone-based skin scanner in partnership with Canadian company Triage Technology Inc. It uses Triage's artificial intelligence (AI) technology to identify 588 skin conditions. The company claims the program is, on average, more effective than dermatologists.

Advanced Human Imaging also announced Triage has signed a distribution agreement with SkinHealth Canada. The agreement will see more than 2,000 Canadian healthcare professionals use the program.

Let's take a closer look at the news.

DermaScan AI approval

Having received EU approval, DermaScan AI will be available to more than 20,000 clinicians and dermatologists in Europe. It's already used by more than 20,000 medical professionals worldwide.

Advanced Human Imaging expects the technology will also receive US Food and Drug Administration approval later this year.  

The company plans to release DermaScan AI as a part of its smartphone-based CompleteScan platform in the third quarter of this year.

CompleteScan is a group of programs that use images from smartphone cameras to analyse a person's risk of health conditions and monitor existing health conditions.

Currently, the CompleteScan platform includes BodyScan and FaceScan. BodyScan analyses a person's body composition and chronic disease risk, while FaceScan analyses a person's vital signs, such as blood pressure, heart rate, and respiratory rate.

Once DermaScan AI is incorporated into CompleteScan, it will be available in 200 countries worldwide.

Commentary from management

Advanced Human Imaging CEO Vlado Bosanac commented on DermaScan AI's EU approval, saying:

This opens up the market significantly for AHI and Triage… More importantly it validates the Derma AI as credible, allowing medical practitioners access to the technology in their day-to-day practices… We are combining the Derma AI into the CompleteScan platform, which will allow our partner's users an ability to perform an extensive number of health checks via the CompleteScan platform.

Advanced Human Imaging share price snapshot

Advanced Human Imaging shares are having a strong year so far on the ASX.

Currently, the Advanced Human Imaging share price is sitting around 24% higher than it was at the end of 2020. It's also gained a whopping 740% since this time last year.

The company has a market capitalisation of around $204 million, with approximately 136 million shares outstanding.

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 In afternoon trade, the software company's shares are up over 15% to $1.82.

Why is the Advanced Human Imaging share price surging higher?

Investors have been buying the shares of Advanced Human Imaging, formerly known as MyFiziq, following the release of an announcement today.

According to the release, the company has signed a binding terms sheet with US based on-device blood pathology company Jana Care.

The release explains that Jana Care has developed and patented an on-device blood screening tool called Aina. The patented Aina device is capable of providing rapid, accurate readouts of key blood chemistry elements in several chronic disease categories – cardiovascular, renal and metabolic (CVRM). It is used in over 1,500 clinics by over 10,000 health workers with more than 200,000 patients.

The company notes that the device delivers rapid, accurate readouts that are extremely valuable for healthcare partners and patients that have deployed personal health management apps via their carers, life/health insurers, wellness managers, fitness organizations, and telehealth doctors/facilities.

Furthermore, the device avoids the need for the patient to go to a medical facility or phlebologist to provide blood and then wait for the results.

What now?

The Aina device diagnostic solution will be provided by Advanced Human Imaging via its CompleteScan app to its partners for their onward use by selected persons whose blood chemistry information is needed on a timely and accurate basis.

The first demonstratable product is expected to be made available in the third quarter of 2021.

Advanced Human Imaging's Chief Executive Officer, Vlado Bosanac, commente: "The commercial distribution arrangement we have undertaken with Jana is an extremely important addition to the remote care and health assessment platform we are delivering to our partners and the vast communities they service around the world. The work Jana has and is doing in the care and identification of chronic disease is of paramount importance and a perfect addition to our offering."

"The use case is powerful, when a user performs a FaceScan or a BodyScan we are able to detect a number of potential risk parameters that relate to chronic diseases. These markers are not dissimilar to the checks a doctor would perform when a patient is attending the doctors practice. If the performed scans identify any of the markers, this will assist the care provider in the need to facilitate a blood test, at which time via the Aina device we will facilitate the draw, analysis and diagnostic reports for both the patient, doctor and care provider."

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Advanced Human Imaging shares are down 8.19% to $1.07 at the close of trade today, against a huge 12-month return of 610%. Let's see why the smartphone-based human scanning technology producer has been wobbling lately.

Advanced Human Imaging deal

In today's release, Advanced Human Imaging advised it has just signed a binding term sheet, which is an informal pre-contractual agreement, with e-Mersion Media.

e-Mersion Media is a Melbourne company that specialises in providing digitisation capabilities to print magazines. It focuses on increasing magazine engagement through interactive touch and videography.

The deal will allow Advanced Human Imaging to spruik its technology through e-Mersion's digital portal, utilising the company's audio, video and other engagement capabilities.

e-Mersion will advertise Advanced Human Imaging's body scanning services to highly targeted customers through its digital magazines.

Advanced Human Imaging's report says that e-Mersion publications "have the potential to reach millions of consumers every month via channels they operate within and clients they service". 

Management comments

Advanced Human Imaging CEO Vlado Bosanac spoke about the company's thought process, saying:

When I met the guys from e-Mersion, they shared with me their digital publication platform. My immediate thought was its just a hybrid version of Kindle. When they demonstrated an interactive magazine they had enhanced, it could not have been further from what I was thinking.

I was floored by the level of interaction and how the content was a combination of touch, video, and sound. I can see people interacting with this enhanced magazine technology and using their in-device camera empowered with our technology to have a health check or simply size a garment before they order right there in the magazine.

Advanced Human Imaging share price snapshot

It seems the company's investors have not been as excited by the deal as its CEO. The Advanced Human Imaging share price has fallen by an incredible 70 cents (46% of its value) in just 13 days since the end of April.

Advanced Human Imaging shares fell by a similar margin just seven days ago on news of a similar tech partnership with Discovery subsidiary Vitality.

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At the time of writing, the Advanced Human Imaging share price has plummeted 4.6% to $1.55 apiece.

Commercial opportunity for CompleteScan

In today's release, the human scanning technology provider advised it will partner with Vitality for a larger consumer-facing pilot of its CompleteScan app.

Established in 1992, Discovery is a South African financial services company that operates in the healthcare, life assurance, savings and investment, and wellness markets. Its Vitality business is one of the world's leading behavioural change platforms that rewards member for adopting a healthy lifestyle. The shared-value insurance model spans 28 countries and has more than 20 million members.

The partnership follows a collaboration by both parties over the last 12 months in testing Advanced Human Imaging technology.

The CompleteScan pilot program will be adopted by onsite wellness specialists across 4 Discovery facilities in South Africa.

Advanced Human Imaging stated that the pilot's primary objective was to demonstrate the real-time data accuracy and efficiencies of the CompleteScan system.

Throughout this month, onsite wellness specialists will compare health evaluations of participants against the accuracy of results when using CompleteScan.

Advanced Human Imaging and Discovery Vitality are currently in discussions about the commercial prospect for ongoing access to CompleteScan.

Management commentary

Advanced Human Imaging CEO Vlado Bosanac welcomed the pilot program, saying:

Discovery's behavioural change platform 'Vitality' sets the benchmark for health engagement and rewards. Discovery in my view were the pioneers of rewards based incentivised health outcome and have a proven track record of success.

The CompleteScan integration will deliver a high-quality cost-effective data set, which will have exponential value in risk assessment and management when integrated into a solution like Vitality.

Better health outcomes mean better quality of life. The ethos of a platform of this nature is to do exactly that, help people live better healthier lives. This is where the CompleteScan application is most effective, by identifying negative health indicators through actionable data for early intervention.

About the Advanced Human Imaging share price

Over the last 12 months, Advanced Human Imaging shares have accelerated to post a gain of more than 800%. Year-to-date performance stands at around 30% higher than the beginning of 2021.

Advanced Human Imaging has a market capitalisation of roughly $220 million, with approximately 136.3 million shares on issue.

The post Advanced Human Imaging (ASX:AHI) share price sinks despite positive update appeared first on The Motley Fool Australia.

However, at the time of writing, the company's shares have recovered to trade at $1.82, up 1.68% for the day so far.

What did Advanced Human Imaging announce?

Advanced Human Imaging shares are on a rollercoaster today after the company advised it has entered into a marketing agreement with China-Based, Tinjoy Biotech (Tinjoy).

The partnership will see Advanced Human Imaging's CompleteScan product integrate with Tinjoy's WinScan app in China. Launch of the combined offering is being targeted for July 2021.

Brought to market in 2020, Tinjoy's WinScan app services roughly 28 million consumers every month in China. The digital health platform specialises in multiple segments of personal and population health as well as medical and preventative care. The company uses data analytics for the early detection and health assessment of individuals at risk of chronic disease.

Under the terms of the binding sheet, Advanced Human Imaging will contribute US$200,000 over three tranches. The funds will be used towards the training of 500 call centre team members to sell the CompleteScan integration. In addition, the remaining monies will be allocated towards material production and the launch of the CompleteScan integrated WinScan app.

Advanced Human Imaging is hoping to achieve 1 million active monthly users within the first year of the signed agreement.

Judging by today's Advanced Human Imaging share price moves, it seems investors have mixed feelings over the significance of the company's news.

What did management say?

Vlado Bosanac, chair and CEO of Advanced Human Imaging, commented:

Our teams have been in constant communications over the last 8 weeks progressing the application integration points. We are fortunate to have mandarin speaking staff that are able to navigate the language barrier seamlessly…

The sheer size of the population and the high level of mobile device usage in China, gives me tremendous confidence in the acceptance of our unique and easy to use technology. I believe this will culminate in a very successful partnership.

About the Advanced Human Imaging share price

Including today's gains, the Advanced Human Imaging share price has rallied by around 1,000% over the last 12 months. The company's shares are, however, still sitting below their 52-week high of $2.19 reached in March this year.

Advanced Human Imaging has a market capitalisation of around $238 million.

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But one company that has faired a little worse than the ASX 200 today is Advanced Human Imaging Ltd (ASX: AHI). Advance Human Imaging shares are currently down 4.42% to $1.73 a share. At this price, Advanced Human Imaging is now down ~13% over the week so far. And more than 20% from the all-time high of $2.19 that we saw the company make back on 3 March.

However, if we zoom out, the picture is a little rosier. Year to date, Advanced Human Imaging is still up more than 36%. Since 3 February, it's up close to 72%. And, over the past year, the company has enjoyed gains of 930%.

But what about today?

Why is the Advanced Human Imaging share price falling today?

Well, as of Monday, Advanced Human Imaging has just emerged from a ~3-week trading halt. That halt was partly sparked by an ASX speeding ticket from 30 March, and partly for a "subsequent announcement to the market in relation to a material potential acquisition".

Well, on Monday we learned that that 'material potential acquisition' was the Israel-based Physimax Technologies. As my Fool colleague Brooke reported at the time, Advanced Human Imaging has offered to purchase Physimax through a letter of intent for US$6 million worth of its shares. It has also agreed to issue a further US$2 million worth of shares through "an earn-out agreement to be shared with key employees on terms to be agreed".

On the same day, Advanced Human Imaging also announced that it had signed a licensing and subscription agreement with Triage Technologies, a Canadian company. Advanced Human Imaginghas already paid US$600,000 of the US$3 million that the deal encompasses. It will allow Advanced Human Imaging to use Triage's AI systems to identify skin conditions. Under the deal, the company will also receive an equity stake in Triage as well.

Some other news

Further, we also got some more news out of Advanced Human Imaging today. The company made an announcement this morning.

This outlined the upcoming launch of the Original Fit Factory Ltd app Truconnect, which is integrated with Advanced Human Imaging technology. This "world–leading app tackling fitness and mental health" is now available on iOS in 71 countries, and will be available on the Andriod Google Play store on 26 April if all goes to plan.

So it's not entirely clear which of these announcements is spooking investors today (and this week). But the net effect on investors has evidently been one of concern.

At the current share price, Advanced Human Imaging has a market capitalisation of $233 million.

The post What's with the Advanced Human Imaging (ASX:AHI) share price today? appeared first on The Motley Fool Australia.

Despite the good news, the Advanced Human Imaging share price has plunged 5.3% and is swapping hands for $1.94 at the time of writing. An improvement, at least, on the intraday low of $1.85 that it plummeted to in opening trade.

Let's take a closer look at the 2 announcements the company shared this morning.

Agreements with Triage

Today, Advanced Human Imaging shared news of a binding technology license and a subscription agreement with Canada-based Triage Technologies Inc.

Through the agreements, Advanced Human Imaging will use Triage's dermatological AI system in its CompleteScan product. In return, the Advanced Human Imaging team will improve Triage's AI engine to provide an on-device application for consumers.

According to Triage, its AI program can identify 588 skin conditions, including all skin cancers. The company claims it is more effective in correctly identifying skin conditions than dermatologists.

Triage received a USA patent for its system in 2020 and expects further jurisdictions to follow.

Advanced Human Imaging's CompleteScan is a mobile-based app that analyses photos of a users' skin, face and body to provide a total health assessment.

As part of the agreement, Advanced Human Imaging will pay Triage US$3 million, US$600,000 of which is already paid. Advanced Human Imaging stated that some of these payments are 'at call' and are not binding commitments.

The payments will be spread out over 14 months as, while the company has the funds needed for the initial payments, the remaining payments will be made up of its cash flow or additional capital.

Advanced Human Imaging is also taking a strategic equity stake in Triage.

Letter of intent to acquire Physimax

The second piece of news out of Advanced Human Imaging today is its letter of intent to acquire Israel-based Physimax Technologies Limited.

Advanced Human Imaging has offered to purchase Physimax for US$6 million worth of its own shares. It has also agreed to issue a further US$2 million worth of shares through an earn-out agreement, the terms of which are yet to be released.

Physimax is a musculoskeletal assessment company. It has developed and patented software that tracks and improves musculoskeletal wellness and performance, using videos captured on mobile phones.

The technology does not need wearables. Instead, it measures and scores mobility, stability, strength, and movement control using movement patterns and analysis.

Its assessment is then paired with an AI-delivered, personalised workout program.

Physimax's software is used by healthcare providers, the NFL, NBA, pro-soccer teams and US military units.

Commentary from management

Advanced Human Imaging chair and CEO Vlado Bosanac commented on the agreement with Triage, saying:

By bringing in platforms like personal health/wellness and medical checking application, the addition of Triage not only broadens user/market interest in AHI capability, but also generates better service by combining all these functionalities directly on the smartphone/mobile device.

Mr Bosanac added that Physimax would be a welcome addition to the AHI MultiScan platform.

The Physimax team has spent 7 years developing, validating and commercialising the technology and has seen broad acceptance of the application worldwide with over 250,000 scans performed to date…

We will continue to identify opportunities of this kind that are complementary to the AHI offering, with a view to either a partnership or when advantageous, acquisition.

Advanced Human Imaging share price snapshot

The Advanced Human Imaging share price has bloomed on the ASX recently.

While it got off to a slow start this year, it's currently up by 52% year to date. It's also up a whopping 1,118% over the last 12 months.

The company has a market capitalisation of around $276 million, with approximately 134 million shares outstanding.

The post Why has the Advanced Human Imaging (ASX:AHI) share price plunged 5%? appeared first on The Motley Fool Australia.

Shares in the small-cap image capture and dimensioning technology provider are currently trading 2.09% higher, at a price of $1.96.

Strong revenue growth

The MyFiziq share price has shot up over the past month as the company's revenue surged. For the half-year ending 31 December 2020, revenue rose 150.3% to $887,092.

However, this did not stop the company from slumping to a substantial half-year loss of $5.47 million, up from $2.9 million in 2019. The loss includes extensive share-based payments to suppliers, directors and employees under the company's incentive plans. In addition, MyFiziq has incurred losses on its investments in various entities.

Regarding the company's cash flow, net cash used in operating activities reduced from $1.77 million to $1.17 million. This is a $600,000 improvement on last year and was driven by a stable cost base and improvement in its collection of outstanding fees.

The company executed 15 binding agreements with channel partners across the six months. This boosted its cash balance, but it was its $5 million capital raise in October last year that generated meaningful cash. As such, this took the company's overall balance to $4.7 million.

Strategic investments

MyFiziq's joint venture partner, Body Composition Technologies (BTC), undertook a $1.92m capital raising during the period. Pouncing on the opportunity, MyFiziq invested $671,000 and now owns the majority stake with 54.5%.

The ASX listed company claims that although BCT has not yet started generating revenue, taking a majority stake provided the strategic advantage of consolidating additional revenue in the future.

Moreover, the company signed an agreement with Canadian-based Triage Technologies in December of last year. The deal will see MyFiziq take a strategic stake in Triage and licence the use of the Triage AI health assistant technology for integration into the company's CompleteScan SaaS offering.

Under the terms of the agreement, MyFiziq will invest up to US$6 million into Triage, comprising US$3 million in cash and US$3 million in equity.

The post Why the MyFiziq (ASX:MYQ) share price is rising today appeared first on The Motley Fool Australia.

Upon open, MyFiziq share's rallied 12.7% to $2.04. However, the excitement appears to have worn off throughout the day. This is reflected in a flat share price at the time of writing, sitting at $1.81.

Details of the agreement

MyFiziq is a software application company that has developed a way of converting photos of the human body into 3D images. The images are then used within the company's application to track weight, fitness, etc.

The deal struck today is with China-based Tinjoy Biotech Limited. Tinjoy owns multiple brands in China and services over 28 million monthly consumers. The company also owns 650 Dongchen pharmacies, catering to 3.5 million repeat monthly customers.

As part of the agreement, MyFiziq's CompleteScan platform will be integrated and distributed by Tinjoy. This will be carried by integrating the platform with Tinjoy's own WinScan Digital Health Platform (WinScan).

The WinScan platform itself addresses wellness, preventive health, and precision nutrition.

MyFiziq plans on utilising Tinjoy's 500 person call centres to facilitate the China launch. However, as part of the deal, the company is expected to contribute US$100,000 towards the training of the call centre marketers. An additional US$100,000 will be made towards the marketing and launch of the product.

Reading the finer details

Included in the term sheet, revenue sharing between MyFiziq and Tinjoy will be a 70% and 30% split respectively. Furthermore, MyFiziq has the option to acquire up to 40% of the WinScan platform for a consideration of US$2 million to US$4 million. This option will remain valid for 12 to 24 months.

Depending on user sign-ups, MyFiziq might also be triggered to invest in Tinjoy based on the terms of the agreement.

The company anticipates collecting licensing fees from the commercial arrangement in the future, although no forecast could be given.

MyFiziq share price in view

The MyFiziq share price has performed exceptionally over the last 12 months, increasing by 598%. This blows the socks off the S&P/ASX 200 Index (ASX: XJO) loss of 3.4% over the same timeframe.

However, big returns typically come with big risk and at a market capitalisation of $232 million, MyFiziq is still a small fish.

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