Spectral AI Announces Plan to Spin Off Spectral IP Subsidiary Focused on Intellectual Property Investments and Monetization

DALLAS, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (“AI”) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced its intent to spin off its Spectral IP, Inc. subsidiary (“Spectral IP”) through a transaction with Sauvegarder Investment Management, Inc. (“SIM”), a development-stage company focused on IP-based financing and monetization. The spinoff aligns with Spectral AI's strategy to maximize shareholder value by fostering growth in its subsidiary, Spectral IP, to monetize intellectual property (“IP”) assets relevant to the broader AI ecosystem with a specific emphasis on healthcare that present significant growth potential outside of the Company's core focus on medical diagnostics. All of Spectral AI's 26 patents and 38 patent applications will remain with Spectral AI.