HonorHealth Leads the Way with Perimeter’s Surgical Visualization Tech – A Paradigm Shift in Cancer Care?

HonorHealth, a leading healthcare system serving over 5 million people in Arizona, has become the first in the state to deploy Perimeter Medical Imaging AI’s S-Series Optical Coherence Tomography (OCT) system. This milestone marks a significant step toward integrating advanced surgical visualization technology into routine cancer care. The partnership highlights Perimeter’s growing influence in the $15 billion global surgical imaging market, driven by its ability to reduce re-excision rates and improve outcomes in breast-conserving surgeries (BCS).

Revolutionizing Surgery with Real-Time Imaging

Perimeter’s S-Series OCT uses high-resolution imaging to visualize tissue microstructures in real time, offering surgeons unprecedented clarity during procedures. With a resolution 10 times sharper than X-ray and MRI, the system identifies cancer margins down to 2 mm—critical for minimizing residual tumors. Unlike traditional pathology, which requires up to 10 days for results, OCT provides instant feedback, enabling intraoperative decisions to avoid re-operations.

The technology’s AI integration, ImgAssist AI 2.0 (featured in the next-gen B-Series), further elevates its potential by automating margin analysis. A pivotal trial in 2024 demonstrated a statistically significant reduction in residual cancer during surgery (p-value = 0.0050), a breakthrough that could cut re-excision rates—currently affecting 20–40% of BCS patients—by up to 50%.

Clinical Validation and Surgeon Endorsement

Peer-reviewed studies and surgeon testimonials underscore the technology’s value. Dr. Sommer Gunia of HonorHealth praised the S-Series for enabling “real-time decision-making” and “the best possible outcomes.” Similarly, Dr. Michele Carpenter called it the “next standard of care.” The system’s role in identifying margin concerns undetectable via traditional imaging—such as microcalcifications or ductal abnormalities—has been documented in case studies, including one published in the Annals of Surgical Oncology.

Market Adoption and Regulatory Milestones

While the S-Series is already FDA-cleared for general tissue imaging, its use in breast cancer margin assessment remains investigational. The B-Series, however, is under FDA review after submitting a Premarket Approval (PMA) application in March 2025. This breakthrough designation and $7.4 million in grant funding signal strong clinical and regulatory momentum.

Perimeter’s commercial reach is expanding rapidly. In 2024, the company placed nine S-Series systems in the U.S., tripling its 2023 installations. Early 2025 saw first-of-their-kind partnerships in Tennessee and New Mexico, with more institutions expected to follow HonorHealth’s lead.

Data highlights:
- Q4 2024 revenue: $293,000, a 303% increase over Q4 2023.
- Full-year 2024 revenue: $846,000, up 110% from 2023.
- Net loss narrowed: 35% improvement in Q4 2024.

Risks and Challenges

Despite its promise, Perimeter faces hurdles. The B-Series’s FDA approval is pending—a process that typically takes 18–24 months—and no guarantees exist. Competitors like Medtronic and Stryker are also advancing AI-driven surgical tools, intensifying market competition. Additionally, the S-Series’s lack of specific FDA clearance for breast tissue applications limits its adoption for margin assessment, a critical use case.

Conclusion: A High-Reward, High-Risk Opportunity

Perimeter’s technology represents a transformative leap in surgical precision, with HonorHealth’s partnership signaling broader market validation. If the B-Series secures FDA approval, the company could capitalize on the $1.2 billion global market for BCS solutions, where 1.4 million surgeries are performed annually.

Investors should weigh the 303% revenue growth in Q4 2024 and the statistically significant clinical data against regulatory risks. The stock (PYNKF) currently trades on OTC markets, offering potential upside if the PMA is approved by late 2026. However, a delayed timeline or adverse regulatory outcome could pressure valuations.

For those willing to take on risk, Perimeter’s technology addresses a clear clinical gap—reducing re-excision rates and improving patient outcomes. As HonorHealth demonstrates, this is not just about innovation; it’s about redefining standards of care. The question remains: Can Perimeter translate its scientific breakthrough into sustained commercial success? The FDA’s decision in late 2026 will be pivotal.