Grey Matters Health Inc. (GREY:CSE; AGW0:FRA; AGNPF:OTCQB) announced that it has taken delivery of its first brain-dedicated Positron Emission Tomography (PET) scanning system for its flagship NovaScan Neuroimaging Clinics location, which is opening soon in Davie, Florida.
According to the company, the clinic will be the first of its kind in the United States to offer brain-only PET scanning to assist in meeting demand for early Alzheimer's disease detection through beta-amyloid imaging. The company said the facility will also provide a diagnostic imaging tool for other neurodegenerative diseases.
The clinic will feature the U.S. FDA-cleared CareMiBrain PET Brain Scanning System, which does not require an integrated Computed Tomography (CT) component to produce diagnostic images. Grey Matters said the system results in 25% less radiation exposure for patients and features a chair-style design. The company added that brain PET scans for beta-amyloid plaque detection associated with advancing Alzheimer's disease are covered by Medicare, Medicaid, and private insurance for patients aged 65 and older.
"Taking delivery of our first brain-dedicated PET scanner is a tremendous milestone for the company," Christopher J. Moreau, CEO of Grey Matters Health, said in a company news release. "We look forward to launching our flagship location in Florida, which will be the first of many neuroimaging clinics we plan to open across the U.S., featuring this revolutionary new technology."
The inaugural clinic will be located at the HCA Florida University Medical Office Building on the HCA Florida University Hospital campus. Grey Matters said it will be the first clinic in the United States to provide brain-dedicated PET scans to aid the medical community in the diagnosis of Alzheimer's disease.
In addition to beta-amyloid imaging, the CareMiBrain system will be used for imaging related to frontotemporal dementia, Parkinson's disease, Lewy body dementia, and select neuro-oncology applications.
The company also stated that the U.S. FDA has approved two monoclonal antibody treatments for Alzheimer's disease, Leqembi from Eisai and Biogen, and Kisunla from Eli Lilly, which are covered by Medicare, Medicaid, and private insurance. According to Grey Matters, both treatments require a positive beta-amyloid brain scan or spinal tap before patients can receive them, and patients receiving treatment also require additional brain PET scans to monitor their progress.
Alzheimer's Diagnostics Market Continues to Evolve
William Blair wrote on May 11 that "the Alzheimer's treatment landscape" had been "rapidly changing following recent regulatory approvals for disease-modifying therapies," creating "an urgent need for accurate patient screening" and contributing to growth in the global Alzheimer's diagnostics market. The firm stated that patients had first needed to be confirmed as having amyloid-beta pathology before treatment could begin, making diagnostics "a critical gatekeeper." It also noted that treatment guidelines had recommended continued monitoring during therapy, creating "ongoing demand for diagnostic testing throughout a patient's care journey."
William Blair also described PET imaging as "the gold standard for visualizing amyloid plaques" and stated that increased use of amyloid-targeted therapies, together with favorable reimbursement and coverage policies, had supported demand for Alzheimer's PET imaging. The firm added that blood-based biomarker tests had emerged as cost-effective screening tools that helped identify patients requiring more advanced imaging, stating that "these diagnostic workflows create a harmonious system that ensures consistent demand across both advanced and accessible testing modalities."
According to a June 15 report from Grand View Research, the global Alzheimer's disease diagnostics market was valued at US$9.2 billion in 2025 and was estimated to reach US$10.2 billion in 2026. The firm stated that "increasing prevalence of Alzheimer's Disease (AD), growing use of biomarkers in disease diagnostics, growing adoption of personalized products, and increasing technological advancements in medical imaging" had been among the factors supporting demand for Alzheimer's diagnostics. Grand View Research also reported that imaging techniques accounted for the largest share of the diagnostics market at 40.8% in 2025, while North America represented 47.5% of global revenue.
Grand View Research also wrote that "the growing global burden of Alzheimer's has intensified the need for early detection and precise diagnosis." The report stated that advances in genomics, proteomics, and metabolomics had expanded the use of biomarkers, while positron emission tomography (PET) imaging had continued to play "a crucial role in Alzheimer's diagnosis." It added that advances in image analysis and machine learning had improved the accuracy and reliability of neuroimaging, allowing diagnostic approaches to evolve "from traditional cognitive assessments to advanced neuroimaging and CSF assays."
The report further noted that the Alzheimer's disease diagnostics market had been "characterized by a high degree of innovation," driven by advances in biomarkers and neuroimaging technologies that enabled earlier and more accurate diagnosis. It also stated that the imaging technique segment continued to lead the market because of "the critical need for early and accurate disease detection," with technologies including CT, PET, and functional MRI serving as essential tools for diagnosing and monitoring Alzheimer's disease.
Future Market Insights reported on June 16 that precision medicine and biomarker-guided testing had continued reshaping healthcare diagnostics. The firm wrote that "accurate biomarker testing is essential" as therapies became increasingly targeted and stated that advances in digital pathology, automation, and AI-enabled diagnostics had reduced turnaround times while improving diagnostic consistency. It also reported that hospitals and diagnostic laboratories had continued expanding molecular testing capabilities as biomarker-driven diagnostics became more integrated into routine clinical workflows.
Streetwise Ownership Overview*
Grey Matters Health Inc. (GREY:CSE; AGW0:FRA; AGNPF:OTCQB)
| Strike Price | Number | Expiry Date |
|---|---|---|
| $2.4 | 340,000 | 08/01/26 |
| $2.4 | 4,480 | 08/01/26 |
| $2.4 | 196,000 | 08/19/26 |
| $2.4 | 4,000 | 08/19/26 |
| $9.38 | 114,887 | 07/04/27 |
| $10.31 | 4,338 | 07/04/27 |
| $10.31 | 8,192 | 08/22/27 |
| $10.63 | 149,560 | 08/22/27 |
| $25 | 450,000 | 05/22/30 |
| $2.5 | 550,000 | 05/22/30 |
| $15 | 517,500 | 06/30/30 |
| $15 | 116,667 | 07/24/30 |
| $1.5 | 126,429 | 11/14/30 |
| $1.5 | 150,000 | 11/28/30 |
| $1.5 | 251,786 | 12/23/30 |
| $1.5 | 83,929 | 12/31/30 |
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 04/21/26 | AGN | 10 | GREY | 1 |
| 03/03/23 | AGN | 1 | AGN | 4 |
| 11/24/21 | AGN | 100 | AGN | 1 |
| 02/19/19 | BTH | 1 | AGN | 1 |
| 10/17/18 | BTH | 2 | BTH | 1 |
Analyst Commentary on Alzheimer's Disease Imaging
1In a March 26 report, analyst Stewart Thomson discussed Grey Matters Health Inc.'s Alzheimer's disease imaging strategy, highlighting the company's plans to establish a network of specialized neuroimaging clinics in the United States focused on brain-specific Positron Emission Tomography (PET) imaging.
Thomson wrote that Grey Matters was pursuing a strategy centered on brain-optimized PET scans for the diagnosis of Alzheimer's disease. He also referenced the company's objective of targeting what it described as a CA$6.9 billion emerging market through the use of dedicated brain-specific PET imaging technology.
According to Thomson, the company planned to develop neuroimaging clinics dedicated to Alzheimer's disease detection using FDA-cleared brain-specific PET scanning systems designed for early-stage diagnosis.
Thomson assigned Grey Matters a "Technical Rating: Strong Speculative Buy" and set price targets of CA$0.08 in the short term, CA$0.17 in the medium term, and CA$0.40 in the long term. According to the report, each of those price targets has since been achieved.
Clinic Opening and Operational Milestones
Grey Matters said it is continuing preparations for the opening of its first NovaScan Neuroimaging Clinics location in Davie, Florida. Those preparations include securing all required licenses, completing construction work, and installing all technical and operational systems.
The company said it plans to provide an update on the official clinic opening date and the timing for accepting patient referrals.
According to the company's May 2026 investor presentation, the first NovaScan Neuroimaging Clinics location is situated at the HCA Florida University Medical Office Building on the HCA Florida University Hospital campus in Davie, Florida. The presentation states the location is within a one-hour drive of approximately six million people.
The investor presentation also states that the CareMiBrain PET Brain Scanning System will be the first of its kind purchased for operation in the United States. The system is FDA-cleared, does not require a CT scan, provides 25% less radiation exposure, and scans are covered by Medicare, Medicaid, and private insurance, with a stated minimum reimbursement of US$4,500 per scan.
The presentation further outlines operating metrics for a NovaScan clinic, including a maximum of 15 scans per day, an annual maximum capacity of 3,600 scans, monthly operating costs of US$70,000, and a stated break-even point of 1.6 scans per day.
Ownership and Share Structure2
Management and insiders own about 11% of the company, and about 21% is owned by institutions. The rest is with retail.
Top shareholders include Alpha North Asset Management with 20.52%, Chief Executive Officer Christopher Moreau with 5.05%, Chairman of the Board Harry Bloomfield with 1.97%, Chief Financial Officer James Kinley with 1.4%, and Director Rajpaul Attariwala with 1.2%.
Grey Matters has 54.1 million outstanding shares, a market cap of CA$1.37 million, and a 52-week range of CA$0.035 - CA$0.10.
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Important Disclosures:
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Grey Matters Health.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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1. Disclosure for the quote from the Stewart Thomson article published on March 26, 2026
- For the quoted article (published on March 26, 2026), Grey Matters Health has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.
- Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
2. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
