Echo IQ Secures $20M Investment from Pro Medicus and Raises $110M to Accelerate US Cardiovascular AI Expansion

Pro Medicus Partnership Unlocks Enterprise Imaging Platform and Extensive US Healthcare Network

Echo IQ's binding Heads of Agreement with Pro Medicus Limited marks a key strategic milestone. Under the proposed terms, Pro Medicus will invest an initial A$10 million via secured convertible notes, with an option for an additional A$10 million contingent on FDA clearance of EchoSolv HF. This structure aligns Pro Medicus’ investment with a potential commercial trigger while providing Echo IQ financial flexibility to expedite US commercialization. Although definitive legal documentation is still pending, no assurance exists that an agreement will be finalized.

Beyond funding, the partnership enables Pro Medicus to market and distribute Echo IQ's cardiovascular AI solutions across the US. Pro Medicus is a global leader in healthcare imaging, offering one of the world’s top enterprise medical imaging software platforms and an extensive US provider network. This collaboration offers Echo IQ a pathway to accelerate EchoSolv adoption within some of the largest, most sophisticated health systems worldwide. According to Echo IQ, alignment with Pro Medicus' established infrastructure and customer base validates both its technology and commercial prospects.

$110 Million Institutional Placement Strengthens Financial Position to Fuel US Growth

Echo IQ completed a strongly supported ~$110 million institutional placement, with proceeds earmarked for accelerating US commercial expansion, product innovation, and cardiovascular AI platform growth. The raise attracted robust interest from existing and new Australian and international investors, signaling confidence in Echo IQ’s strategy and execution. This capital infusion equips the company with substantial resources to scale US operations during a critical growth phase.

The enhanced balance sheet enables accelerated investments across sales expansion, doubling research and development capacity to speed new product launches, and scaling implementation capabilities for deployment across major US cardiovascular institutions. The timing coincides with an expanding US commercial pipeline and ongoing FDA review of EchoSolv HF, positioning Echo IQ to capitalize on imminent regulatory and commercial catalysts.

EchoSolv AS Clinical Usage Surges 400% Year-on-Year, Demonstrating Rapid Market Penetration

Echo IQ’s flagship EchoSolv AS platform processed over 10,200 echocardiograms in the quarter ending 30 June 2026, reflecting 20% quarter-on-quarter growth and more than 400% year-on-year increase. This data evidences accelerating clinical adoption and commercial traction for the company’s AI-driven cardiovascular diagnostic technology. The sustained 20% quarterly growth highlights ongoing momentum among its customer base.

The significant year-on-year increase underscores the expanding scale of Echo IQ’s US operations and growing acceptance of EchoSolv AS by cardiovascular institutions. These processing volumes represent actual clinical usage and provide investors with tangible insight into platform market penetration. Echo IQ’s investments in sales, implementation, and clinical success teams during the quarter support this growth trajectory across leading US cardiovascular centers.

US Commercial Pipeline Grows to 70+ Hospitals, Including Three Large Enterprise Proposals

During the quarter, Echo IQ’s US commercial pipeline expanded to over 70 hospitals, featuring three enterprise proposals encompassing 300+ hospitals collectively. This growth reflects intensified sales and business development efforts targeting major US healthcare systems. Enterprise opportunities are particularly significant as they enable simultaneous deployment across multiple affiliated facilities. The three proposals alone represent a concentrated market opportunity exceeding 300 hospitals.

To support pipeline growth, Echo IQ launched EchoSolv VIEW and SHADOW enterprise deployment programs, offering additional market access routes and facilitating platform adoption across diverse health system sizes and operational needs. The combination of direct hospital relationships and enterprise opportunities illustrates a diversified US commercial strategy. Strengthened executive leadership and expanded US commercial teams underpin ongoing customer acquisition and deployment efforts.

FDA Review of EchoSolv HF Continues as Key Regulatory and Commercial Milestone

Echo IQ’s EchoSolv HF submission remains under review by the US Food and Drug Administration. The company continues preparations for commercial launch pending regulatory approval. EchoSolv HF is viewed as a significant potential value driver. Investors should monitor the FDA review timeline closely, as approval would unlock new commercial markets and opportunities for the EchoSolv platform.

The Pro Medicus investment agreement’s structure, linking additional funding to FDA clearance, reflects management’s confidence in regulatory progress. Echo IQ’s ongoing post-approval planning and market readiness activities demonstrate active engagement ahead of potential launch. FDA approval would materially de-risk the company’s US expansion and broader cardiovascular AI platform growth strategy.

Exclusive Data Licensing Deal with Advara HeartCare Enhances AI Development Edge

Following quarter end, Echo IQ secured an exclusive data licensing agreement with Advara HeartCare, granting access to up to one million deidentified echocardiography studies and associated clinical data. This partnership aims to accelerate AI product development and reinforce Echo IQ’s competitive advantage in cardiovascular diagnostics. The exclusive access to this extensive dataset provides a substantial machine learning training resource, differentiating Echo IQ’s AI capabilities.

Management highlighted this data access as a key competitive strength. Combined with Echo IQ’s existing NEDA collaboration, the Advara HeartCare agreement establishes a unique cardiovascular data ecosystem to support sustained product innovation. Access to large, high-quality clinical datasets is vital for AI model development in medical diagnostics, and exclusivity creates a significant barrier to competitors. This deal supports Echo IQ’s long-term platform expansion beyond the current EchoSolv suite.

Mayo Clinic Collaboration Broadens Clinical Applications into Cardio-Oncology

Echo IQ initiated a research collaboration with Mayo Clinic to assess its AI platform’s utility in cardio-oncology. Outcomes from this partnership are expected to facilitate future product expansion and new clinical applications. This collaboration validates Echo IQ’s technology through engagement with a leading clinical and research institution. Cardio-oncology addresses cardiovascular complications in cancer patients, a growing clinical need with limited diagnostic options.

The Mayo Clinic partnership extends Echo IQ’s clinical evidence base beyond echocardiography diagnostics. Positive research findings could generate new revenue streams and market opportunities. The collaboration also grants access to Mayo Clinic’s clinical expertise, patient populations, and research infrastructure. Favorable results may support expanded regulatory submissions and broadened EchoSolv platform indications. Association with a top academic medical center enhances technology credibility and clinical validation pathways.

Executive and US Commercial Team Expansion Supports Scaling Operations

During the quarter, Echo IQ strengthened its executive leadership, clinical advisory board, and US commercial team to support accelerated customer acquisition, deployment, and platform growth. Expansion of sales, implementation, and clinical success teams aims to establish infrastructure for scalable deployment across major US cardiovascular institutions. Such personnel investments during a capital-intensive phase indicate management’s confidence in near-term commercial momentum and pipeline conversion.

Enhanced leadership and advisory capabilities build operational depth to manage complex multi-institutional healthcare relationships. Investment in implementation and clinical success reflects a commercial model focused on post-sale customer support typical of enterprise healthcare software deployments. This organizational growth aligns with the recent capital raise and strategic partnership, providing financial and strategic resources to scale US operations. These commitments underscore Echo IQ’s dedication to its US market expansion strategy.

Strategic Platform Expansion and Market Positioning in Cardiovascular AI

Echo IQ’s strategic initiatives position the company for growth beyond its current EchoSolv offerings. Management describes entering a new growth phase with enhanced financial strength, commercial alliances, and clinical foundations to become a leader in AI-driven cardiovascular diagnostics. The company aims to expand into adjacent cardiovascular clinical applications and patient groups beyond echocardiography.

The ~$110 million capital raise, Pro Medicus partnership, exclusive Advara HeartCare data agreement, and Mayo Clinic collaboration collectively create a foundation for broader platform development. Plans to double research and development capacity will accelerate new product introductions beyond EchoSolv AS and HF. Operating in the cardiovascular diagnostics market, where AI is increasingly applied to enhance diagnostic precision, workflows, and outcomes, Echo IQ’s focus on enterprise health system integration situates it within the broader healthcare technology sector for enterprise imaging software and AI clinical decision support.