Respiratory imaging technology company 4DMedical Limited has successfully completed the acquisition of Imbio, a leading US-based medical technology company specialising in artificial intelligence (AI) applications for personalised medicine.
The ASX-listed company said Imbio’s expertise lies in leveraging AI algorithms to transform standard-of-care CT scans into tailored medical solutions, revolutionising patient diagnosis, treatment, and management.
The acquisition solidifies 4DMedical’s comprehensive service offering in the lung and enhances its growth strategy by incorporating Imbio’s FDA-cleared AI-powered lung and heart diagnostic products into its portfolio, 4DMedical said in a press release.
Furthermore, Imbio’s cutting-edge technology is poised to complement 4DMedical’s existing functional imaging and structural imaging products, resulting in a more holistic cardiothoracic imaging suite.
This strategic synergy aims to provide improved respiratory health solutions, particularly addressing the needs of US Veterans impacted by service-related toxic exposures.
With Imbio expected to generate USD 3 million in revenue in CY2023 and USD 6.3 million in CY2024, the acquisition is anticipated to contribute significantly to 4DMedical’s financial strength, projecting cashflow positivity within the first year post-integration.
The addition of Imbio to 4DMedical’s portfolio is seen as a major stride towards strengthening the company’s position in lung screening and addressing various cardiothoracic conditions.
The AI technology brought in by Imbio facilitates the identification and quantification of early-stage diseases, underscoring its potential to enhance patient care and outcomes.
These developments underscore the broader commercial opportunities that the enhanced technology platform presents for 4DMedical.
Founder and CEO of 4DMedical Andreas Fouras conveyed that over the recent weeks, 4DMedical has been advancing its commercialisation efforts by securing CMS payment for XV LVAS, obtaining FDA clearance for CT LVAS, and forming a partnership with Philips.
Fouras emphasised that the completion of the acquisition with Imbio significantly accelerates their commercial momentum.
This move extends its customer base to over 300 sites and introduces a new set of products that complement its established leadership in functional lung imaging, solidifying its position as the foremost global supplier of lung imaging software.
As 4DMedical propels into calendar year 2024, it does so with accelerating momentum, buoyed by the transformative acquisition of Imbio and a series of notable achievements in 2Q FY2024.
The early US Medicare reimbursement for XV LVAS, effective from 1 January 2024, well ahead of schedule, is expected to drive accelerated adoption of the technology.
Furthermore, the immediate signing of contracts with radiology clinics in Memphis and Detroit enhances accessibility for outpatient scans.
FDA clearance for CT LVAS not only broadens the reach of XV Technology in the U.S. market but also significantly reduces regulatory approval risks for CT:VQ.
