4DMedical and Philips sign Memorandum of Understanding

Latest News

Respiratory imaging technology company 4DMedical (ASX:4DX) has signed a Memorandum of Understanding (MoU) with Philips.

The MoU will establish a strategic collaboration to expand federal and commercial sales opportunities for XV Technology in North America.

4DMedical said the MoU represents a significant step forward in its commercialisation strategy, particularly within the clinics operated by the US Veterans Health Administration (VA).

Philips has an existing partnership with both the VA and the Department of Defense (DoD), which includes a 45-year relationship, deploying 35 per cent of the critical care information systems across the VA and having Philips imaging solutions in 50 per cent of VA hospitals and Veterans Integrated Service Networks (VISNs).

Under the terms of the MoU, 4DMedical and Philips will negotiate a collaboration agreement for North America.

4Dmedical said the partnership's initial focus will be to offer 4D lung imaging as a critical screening solution for Veterans exposed to burn pits. It is intended that 4DMedical’s XV Technology will be added to Philips’ product catalogue and offered as a third-party solution.

The parties intend to expand access to software and hardware solutions, including to other US-based federal agencies and commercial organisations in North America. The parties will also consider other markets outside of North America for expansion.

4DMedical founder, managing director and CEO Andreas Fouras said, "To partner with a healthcare powerhouse such as Philips is a phenomenal opportunity for 4D to accelerate our mission.

"The depth of commitment to Veterans by the team at Philips North America has been palpable throughout our 6-month long discussions. I continue to be impressed by their leadership in this space, and I am convinced that a partnership with Philips will dramatically accelerate the scaling of our offering within the VA."