- 4MMedical (ASX:4DX) inks an MOU with leading NYSE-listed global healthcare company Philips
- The MOU is to expand sales opportunities for its XV Technology in North America
- As part of the collaboration, 4DMedical will offer its 4D lung imaging as a critical screening tool for Veterans exposed to burn pits
- Both parties intend to continue collaborating on software and hardware health solutions
- 4MX shares are up 10.3 per cent, trading at $1.02 at 1:28 pm AEDT
4DMedical (ASX:4DX) has signed a memorandum of understanding (MOU) with leading NYSE-listed global healthcare company Philips to expand sales opportunities for its XV Technology in North America.
The MOU represents a significant milestone in 4DM’s commercialisation strategy, as Philips supplies up to 50 per cent of its imaging systems to the US Veterans Health Administration (VA) hospitals.
Philips also has a 45-year-long relationship with the Department of Defense (DoD), deploying a further 35 per cent of the critical care information systems across the VA and Veterans Integrated Service Networks (VISNs).
As part of this collaboration, 4DMedical will offer its 4D lung imaging as a critical screening tool for Veterans exposed to burn pits. The company’s XV technology will be added to Philips’ product catalogue and offered as a third-party solution.
“I am incredibly excited by the reach this will give our technology, and importantly, the impact this will have for millions of Veterans and their caregivers,” 4DM Managing Director and CEO Andreas Fouras said.
“The team at 4D has been working tirelessly to drive our mission, and the exciting progress over recent weeks, including the monumental success with CMS reimbursement, recent contract wins in the US and Australia, and now this partnership with Philips, has transformed the company.”
Philips drew in about $30.8 billion in revenue in 2022, and it’s a leading provider of innovative health technology solutions, known for its commitment to improving patient outcomes.
Both parties intend to continue collaborating on software and hardware health solutions, as they consider other markets outside their current North American market reach.
4MX shares were up 10.3 per cent, trading at $1.02 at 1:28 pm AEDT.