4DMedical Ltd (ASX: 4DX) has seen a significant surge in its stock value, rising 20.4% on Friday. The company’s shares closed at $2.89 on Thursday and jumped to $3.48 during Friday’s trading session. This surge has been attributed to announcing a new commercial agreement with the Cleveland Clinic, a prestigious healthcare institution in the United States.
Record Growth for 4DMedical
This impressive performance marks a new record closing high for 4DMedical and reflects a staggering increase of 656.5% in share value over the past year. The company’s market capitalization has now exceeded $1.7 billion, positioning it for re-rating to the S&P/ASX 300 Index in the upcoming year.
New Deal with Cleveland Clinic
The commercial arrangement with Cleveland Clinic involves the clinical use of 4DMedical’s CT:VQ technology, a CAT scan-based ventilation-perfusion software. This high-profile deal follows recent agreements with other prestigious institutions, including Stanford University and the University of Miami.
Market Impact
- 4DMedical shares are up 20.4% following the Cleveland Clinic deal.
- The company has achieved a remarkable 656.5% increase in share price over 12 months.
- Market capitalization is now over $1.7 billion.
CEO’s Comments on Growth and Strategy
Andreas Fouras, 4DMedical’s founder and CEO, emphasized the significance of the Cleveland Clinic agreement as a milestone for the company. He stated, “This validates both our technology and our commercialisation strategy.” Fouras also noted that the adoption of CT:VQ by elite medical centers demonstrates the advantages of this technology over traditional imaging methods.
The CEO expressed optimism about the company’s growth trajectory, saying, “The momentum is extraordinary, and we’re just getting started.” With these developments, 4DMedical is poised for ongoing success in the healthcare technology sector.
