Cyclopharm Signs 3-Year Contract to Deploy Technegas® in 169 US Hospitals
Cyclopharm has inked a pivotal three-year agreement with HCA Healthcare, enabling deployment of its Technegas® lung imaging technology across up to 169 US nuclear medicine departments. This deal marks a major step in expanding Technegas®’ footprint in the American healthcare market.
- Three-year contract with HCA Healthcare for Technegas® deployment
- Potential rollout across 169 nuclear medicine departments in the US
- Streamlined national agreement bypassing individual site negotiations
- Opportunity to expand further via HealthTrust Purchasing Group network
- Technegas® recognized globally for advanced lung ventilation imaging
Cyclopharm’s US Breakthrough
Cyclopharm Limited (ASX: CYC) has achieved a significant milestone by signing a major contract with HCA Healthcare, one of the largest healthcare providers in the United States. This agreement paves the way for the deployment of Cyclopharm’s flagship product, Technegas®, across up to 169 nuclear medicine departments within HCA’s extensive hospital network.
HCA Healthcare operates over 180 hospitals and approximately 2,400 care sites across 20 states, making it a formidable partner for Cyclopharm’s US expansion. The national contract was initiated after multiple HCA sites independently engaged with Cyclopharm, prompting HCA’s head office to negotiate a streamlined, network-wide agreement. This approach eliminates the need for separate contracts at each site, accelerating Technegas® adoption.
Technegas®: A Global Standard in Lung Imaging
Technegas® is a radiopharmaceutical agent used for functional lung ventilation imaging, particularly in diagnosing pulmonary embolism, COPD, pulmonary hypertension, and other respiratory diseases. Already the preferred agent in 65 countries outside the US, Technegas® offers precise and reliable imaging through inhalation of a technetium-labelled aerosol, enabling advanced gamma or SPECT camera diagnostics.
In the US, Technegas® is approved for adults and pediatric patients aged six and older, specifically for visualizing pulmonary ventilation and evaluating pulmonary embolism when combined with perfusion imaging. This contract with HCA positions Cyclopharm to bring this advanced diagnostic tool to a broader American patient population.
Strategic Implications and Future Opportunities
Cyclopharm CEO James McBrayer expressed enthusiasm about the partnership, highlighting the accelerated availability of Technegas® across the US and the alignment with HCA’s commitment to quality patient care. The agreement also opens dialogue with HealthTrust Purchasing Group, HCA’s affiliated group purchasing organisation, which contracts for over 1,800 additional hospitals nationwide. This could significantly amplify Cyclopharm’s market reach if further agreements are secured.
Implementation will focus initially on HCA sites that had already engaged with Cyclopharm, ensuring a prioritized and efficient rollout. The deal not only expands Cyclopharm’s footprint but also underscores growing clinical demand for innovative nuclear medicine technologies that improve respiratory disease diagnosis and management.
While the financial terms were not disclosed, the scale of HCA’s network and the streamlined contracting process suggest a meaningful revenue opportunity for Cyclopharm. Market watchers will be keen to monitor how swiftly Technegas® is adopted across HCA facilities and whether this momentum translates into broader US market penetration.
Bottom Line?
Cyclopharm’s HCA deal sets the stage for a transformative US market presence, but execution will be key to unlocking its full potential.
Questions in the middle?
- How quickly will Technegas® be implemented across the 169 HCA nuclear medicine departments?
- What financial impact will this agreement have on Cyclopharm’s US revenue in the next 12 months?
- Will Cyclopharm secure a broader contract with HealthTrust Purchasing Group to expand beyond HCA?