TruScreen Launches 260,000-Woman Cervical Cancer Screening Program in Vietnam

In a move that might have been met with a shrug on the ASX boards this morning, but deserves a double take, Kiwi-Aussie medtech outfit TruScreen (ASX/NZX: TRU) has inked a significant public health pact in Vietnam. The initiative will see the company’s AI-powered cervical cancer screening device deployed across Ho Chi Minh City in a five-year push to screen 260,000 women—a scale that dwarfs anything in the company’s history.

It’s not every day that a small-cap straddling the ditch muscles into one of Southeast Asia’s most pressing health challenges. But that’s exactly what TruScreen’s done. The company has teamed up with the Ho Chi Minh City Public Health Association (HPHA) and its local distributor, Gorton Health Services, to tackle the country’s dismal cervical cancer screening rate, which sits at a mere 25% of the targeted demographic. The Vietnamese government’s goal? Hit 60% of women aged 30 to 54—a cohort that numbers in the tens of millions.

The official rollout began on 12 April with a ceremony attended by not just public health luminaries but also reps from the Australian Consulate and the Vietnam Cancer Association—illustrating just how seriously the effort is being taken. The device of choice is TruScreen’s own Ultra®, a portable, AI-enabled, real-time screening tool that does away with labs, pathologists, and the usual cytology rigmarole. It’s screening on the fly, no slides or stains required.

As TruScreen Chair Tony Ho, alongside HPHA president Dr Le Truong Jiang and GHS Vietnam CEO Mr Tran An Bao, put ink to paper, CEO Marty Dillon didn’t mince words on the mission’s stakes: “This program… may save the lives of over 2,600 mothers, daughters, sisters, wives and friends.”

It’s also a milestone for the company’s long-haul efforts in Vietnam. TruScreen’s technology was only added to the Vietnamese Ministry of Health’s official playbook in December 2023. Now it’s front and centre in one of the largest urban population centres in the region.

The broader Vietnamese market is tantalising. The country has 36 million women aged 18 to 65—TruScreen’s entire addressable demographic. Ho Chi Minh City, with 9 million people, is a launchpad. If all goes well, the model will be replicated across the nation and potentially across Southeast Asia. The company is already touting the program as a “reference site for neighbouring countries”.

Operationally, the plan is as meticulous as it is ambitious. Social workers will go door-to-door educating women and signing them up. The actual screenings will happen at district health centres and private clinics, supported by three major hospitals: Tu Du, Hung Vuong, and Ung Buou. Even the Ho Chi Minh City Women’s Union is lending a hand on the media front. It’s a full-court press.

From an investment angle, it’s worth noting that TruScreen is still far from blue-chip territory. But this partnership gives it something it has long lacked—scale and validation. For a medtech that has long spruiked its ability to leapfrog traditional screening methods in low- and middle-income countries, this is not just a commercial win but a proof of concept.

The device itself, TruScreen Ultra®, has a CE Mark, is TGA registered in Australia, and is already in use in 29 countries, including China, Russia, Mexico and Zimbabwe. In FY24 alone, over 200,000 tests were performed using the device—mostly on the back of single-use sensor sales. Now, with the 260,000-screening goal in Ho Chi Minh City alone, that annual figure could look modest.

What sets TruScreen apart is its tech’s agility. Unlike Pap smears or HPV tests which require samples, labs and follow-ups, TruScreen’s gizmo gives results on the spot using low-level optical and electrical stimuli. In a place where lab infrastructure is patchy and awareness about cervical cancer is low, that’s a genuine advantage.

And while the market hasn’t popped champagne on the news yet, this development should be watched closely. A successful run in Vietnam could open doors not just in ASEAN but also in public health procurement circles globally. For a small-cap often flying under the radar, this could be the announcement that finally puts it on the map.

As Dillon puts it, “This program… increases screening uptake amongst the women of Ho Chi Minh City.” It may also do the same for investor interest in TruScreen.