Orthopedic imaging specialist CurveBeam AI (ASX: CVB) has locked in a commercial agreement with leading medical technology business Stryker Australia, designed to boost awareness and understanding of the company’s innovative weight bearing CT (WBCT) imaging equipment within its target markets.
More specifically, Stryker is responsible for educating surgeons on the benefits of WBCT scans and driving demand for the technology in Australia and New Zealand. Stryker is also tasked with promoting CurveBeam’s flagship ‘HiRise’ scanning equipment as part of the agreement.
Benefits of HiRise scanners
CurveBeam’s potential customers include imaging centres and hospitals that can utilise HiRise scanners to improve diagnosis and surgical planning.
HiRise boasts the unique capability of scanning the hip, pelvis or foot of a patient in a weight bearing position. This enables medical professionals to evaluate alignment of the entire lower extremities in three dimensions to gain detailed insight into bone and joint alignment under natural load conditions.
The deal with Stryker is exclusive to Australia and New Zealand over an initial three-year term.
Agreement devised to drive sales
Stryker has more than 25 sales professionals across these regions who can generate direct sales referrals for CurveBeam’s HiRise equipment. CurveBeam is then directly responsible for concluding the sales in the Australian and New Zealand markets.
The exclusive agreement could expand for a further two years subject to Stryker meeting a minimum volume of referrals that lead to sales opportunities and commissions for CurveBeam.
Management sees the deal as a material expansion of the company’s market opportunity in Australia and New Zealand after a previous distribution agreement for Australia expired last year.
CurveBeam AI chief executive officer, Greg Brown, said:
““We are very excited to expand this relationship to our home market, and are in fact well down the road with the Stryker Australia and New Zealand leadership team in preparing a launch with extensive education programs around the benefits of WBCT through the HiRise. Stryker’s scale, resources and reach, along with the fact that the collaboration is very synergistic, will be all instrumental in driving surgeon demand for WBCT. We see this demand being met through placing HiRise WBCT scanners with imaging centres and hospitals.”
Collaboration with leading med tech company
On a global level, Stryker is regarded as one of the world’s leading medical technology businesses.
The US-based outfit operates in more than 70 countries and is served by about 52,000 employees. It generated US$20.5 billion in global sales in 2023 and spent US$1.4 billion on research and development during the same year.
It is listed on the New York stock exchange and boasts a market capitalisation of more than US$150 billion.