Respiratory imaging technology company 4DMedical Limited has entered into a Memorandum of Understanding (MoU) with global healthcare company Koninklijke Philips to broaden federal and commercial sales opportunities for XV Technology in North America.
Under the deal, 4DMedical and Philips will negotiate a Collaboration Agreement, initially focusing on providing 4D lung imaging as a critical screening solution for Veterans exposed to burn pits.
The intention is to integrate 4DMedical’s XV Technology into Philips’ product catalogue as a third-party solution, the company said in an ASX announcement.
The collaboration will subsequently expand to include both software and hardware solutions, catering to other US-based Federal agencies and commercial organisations in North America.
Furthermore, 4DMedical said the potential for further global expansion outside North America is also under consideration.
Philips, renowned for its substantial partnership history with both the VA and the Department of Defense (DoD), will significantly expand 4DMedical’s reach.
The company’s commitment to improving patient outcomes and driving operational efficiency aligns seamlessly with 4DMedical’s goals.
The collaboration was officially unveiled at the Radiological Society of North America (RSNA) convention in Chicago, where senior leaders from both Philips and 4DMedical gathered to sign the MoU.
The esteemed presence of the 9th Secretary of the VA, the Honourable Dr David Shulkin, at the convention, underscored the significance of the collaboration.
Dr Shulkin expressed optimism about the partnership, stating, “Partnering with a leading healthcare company like Philips provides 4DMedical with a unique opportunity to accelerate their mission to help Veterans with deployment-related respiratory disease.”
Andreas Fouras, MD/CEO, and founder of 4DMedical, remarked that collaborating with a healthcare giant like Philips presents a tremendous opportunity for 4D to expedite its mission.
“The depth of commitment to Veterans by the team at Philips North America has been palpable throughout our 6-month long discussions,” he stated.
Fouras expressed ongoing admiration for Philips’ leadership in the field and firmly believed that a partnership with Philips would significantly hasten the expansion of their offering within the VA.
He also conveyed immense excitement about the extended reach this collaboration would provide to their technology, emphasizing its impactful implications for millions of Veterans and their caregivers.
“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,” Fouras concluded.
