KUALA LUMPUR (March 28): Genting Bhd's 23.4%-owned associate Cortechs.ai said the company and UK-listed IQ-AI Ltd's subsidiary Imaging Biometric LLC (IB) have expanded their business development agreement to offer IB's products on Cortechs.ai's platform.

In a statement on medical-imaging specialist Cortechs.ai's website, the firm, formerly known as CorTechs Labs Inc, said Cortechs.ai and IB have joined forces to increase global access to clinical diagnostic accuracy tools.

"This amendment to the existing non-exclusive business development agreement entails the hosting of IB's software on Cortechs.ai's global delivery platform for radiology AI (artificial intelligence) solutions," Cortechs.ai said.

Cortechs.ai said chief executive officer Chris Airriess said in the statement that adding IB's product suite to Cortechs.ai's AI platform will very quickly expand the availability of these products to radiology departments and imaging facilities worldwide.

"The integration can reduce many of the challenges typically faced by application vendors selling directly to healthcare providers," he said.

At the time of writing, casino and hotel operator Genting Bhd had not made an announcement to Bursa Malaysia on the expansion of Cortechs.ai's business development agreement with IB to offer IB's products on Cortechs.ai's platform.

Genting Bhd's website indicates that Cortechs.ai is among several companies within Genting Group's life sciences and biotechnology division.

Companies in the division include Celularity Inc, TauRx Pharmaceuticals Inc and DNAe Group Holdings Ltd, according to Genting Bhd.

Genting Bhd said it is principally an investment holding and management company within the Genting Group.

"Today, the Genting Group comprises Genting Bhd and its listed companies Genting Malaysia Bhd, Genting Plantations Bhd and Genting Singapore Ltd as well as its wholly-owned unlisted subsidiaries Genting Energy Ltd and Resorts World Las Vegas LLC," Genting Bhd said.

On Friday (March 26), Genting Bhd's share price closed up eight sen or 1.55% at RM5.24 for a market value of about RM20.17 billion.

Genting Bhd has 3.85 billion issued shares, according to its latest quarterly financial report.