Medical technology business 4DMedical (ASX: 4DX) has sealed a significant commercial agreement for its respiratory care solutions with leading provider of diagnostic imaging services in Queensland, Qscan Radiology Clinics.
The deal marks a maiden Australian contract incorporating products from both the company’s ‘Pulmonary Function’ and ‘Pulmonary Structure’ suites. It also features the group’s CT LVAS image processing software used to generate functional lung health intelligence.
Pilot program delivers commercial deal
The new commercial agreement follows a successful pilot program which demonstrated the clinical and operational effectiveness of 4DMedical’s portfolio of proprietary products.
In turn, Qscan will now provide clinicians with access to a string of 4DMedical’s lung function products across select practices in Brisbane. Each of these products will deliver advanced diagnostic solutions to support referrers and patients.
Qscan is regarded as one of Australia’s leading medical imaging providers. It offers a broad range of diagnostic and interventional radiology services from 40 clinics in Queensland, New South Wales, Western Australia, Tasmania, and the ACT.
4DMedical managing director and founder, Andreas Fouras, commented:
“Having completed our pilot with Qscan, we are excited to have progressed to a commercial agreement. This partnership ensures that more patients and clinicians have access to detailed, actionable insights into lung health, supporting better healthcare outcomes.”
SaaS distribution model
4DMedical’s lung function solutions help to transform routine imaging into powerful diagnostic tools. They are designed to integrate into existing medical infrastructure through the company’s Software as a Service (SaaS) distribution model.
For its partnership with Qscan, reports will be delivered and billed on a SaaS basis and on similar terms to its other commercial partners.
Series of contract wins
Notably, the company has nailed down multiple contract wins for its lung imaging solutions over the last few months, both in Australia and the US.
In early December, it executed an agreement with Perth Radiology Clinic to deploy its XV technology-enabled ventilation reports across 16 clinics. Management noted that this collaboration represents a major milestone in 4DMedical’s Australian expansion strategy.
In the US, the company won three commercial contracts for its lung imaging analysis products since the start of November. These include a three year deal with UC San Diego Health and another agreement with the University of Chicago Medicine.
UC San Diego is ranked amongst the top 10 American hospitals for respiratory care, whilst University of Chicago Medicine is a nationally recognised academic medical centre.
Andreas Fouras added:
“Momentum continues to build with the commercialisation of our technology across the US and Australia. With the addition of Qscan to our network of providers in Australia, I am excited to see our footprint expand to ensure our cutting-edge technology is now becoming more readily available to all Australians.”
The recent contract wins add to 4DMedical’s robust growth trajectory as reported in the group’s results for the 2024 financial year (FY24). Here, operating revenue of $3.8 million surged by 422 per cent from the previous fiscal year.