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Highlights
- Echo IQ Limited has been announced as one of the only five awardees of the HeartX accelerator program.
- In the 2022 annual report, Adherium Limited reported a nearly 32% increase in revenue from ordinary activities.
- American Medical Association has accepted 4DMedical Limited's XV LVAS® application to establish a new Category III Current Procedural Terminology (CPT) code.
Medical technology is a fast growing vertical in healthcare. It includes any technology-enabled medical devices and services for benefit of patients and medical professionals. Robotic surgery, CRISPR diagnostics, gene therapies, and nanotechnology are some of the examples of medical technology.
With this backdrop, we at Kalkine Media® discuss the recent updates of some of the medical technology firms from the ASX:
Echo IQ (ASX:EIQ)
Echo IQ Limited is committed towards improving diagnosis of structural heart disease by artificial intelligence-powered technology. The medical technology firm recently got selected for inclusion in the 2022 HeartX Accelerator program. HeartX is a cardiovascular-focused healthcare accelerator program that helps to expedite deployment of new cardiovascular innovations. The company has been announced as one of the only five awardees of the HeartX accelerator program.
Participation in HeartX will offer the following benefits to Echo IQ:
- Guaranteed hospital pilot projects and clinical trials in the state.
- chance to speed up US commercialisation in a way that is collaborative yet cost-effective.
- Support to the company's FDA application.
- Securing an additional equity funding of US$150,000.
Adherium Limited (ASX:ADR)
Adherium aspires to become a leading digital health solutions provider for management of respiratory diseases. The ASX-listed international respiratory eHealth company is focused on respiratory eHealth, remote monitoring, and data management solutions.
The company's sensor technology and cloud-based platform, Hailie®, offers real time feedback on patients' use of inhaled medication. Its other benefits are as follows:
- Enables optimal management of patients with difficult-to-treat, severe asthma, and chronic obstructive pulmonary disease (COPD), and
- Reduces direct and indirect costs of healthcare.
In the 2022 annual report, Adherium reported a nearly 32% increase in revenue from ordinary activities. The company's CEO stated, "Adherium progressed with US FDA 510(k) clearances from covering 71% to 91% of the US top 20 branded inhaler medications by sales volume."
4dmedical Limited (ASX:4DX)
4DMedical Limited (ASX:4DX) recently informed the market that American Medical Association has accepted its XV LVAS® application to establish a new Category III Current Procedural Terminology (CPT) code – Cat III code. According to the company, the said code is a key milestone for XV LVAS® to become a fully commercialised and reimbursable product in the US. Additionally, this will expand 4DMedical's product visibility in the US market.
