4DMedical Ltd (ASX:4DX) has strengthened its partnership with Koninklijke Philips NV through an expanded distribution deal for its CT:VQ lung imaging software, underpinned by a minimum customer order commitment of about US$10 million, or approximately A$15 million, over calendar years 2026 and 2027. Shares in 4DMedical surged 12.4% on the news as the market digested the scale and certainty of the two-year revenue pipeline.
Under the agreement, Philips will add CT:VQ to its product catalogue in North America and sell the software on standard commercial terms through its established hospital and imaging-centre network across the United States and Canada. Philips will assign dedicated sales and clinical specialists with CT:VQ sales targets, supported by joint marketing and co-branding campaigns. The partnership was formally launched at a breakfast session during the Radiological Society of North America’s 2025 annual meeting, billed as the first major international showcase for the collaboration.
The contract includes a mechanism that effectively underwrites the minimum order commitment, with milestone-based payments scheduled across the two-year term. 4DMedical said the structure gives the company clearer visibility over future revenue as market adoption builds.
CT:VQ brings advanced lung imaging to existing CT fleets, bypassing nuclear medicine infrastructure
CT:VQ is described as the first technology able to generate quantitative ventilation–perfusion data from routine non-contrast CT scans, creating detailed regional maps of lung ventilation and blood flow without the use of radiotracers or contrast agents.
By removing the need for nuclear medicine infrastructure, CT:VQ can be deployed using the existing fleet of roughly 14,500 CT scanners across the United States, potentially extending advanced respiratory imaging into community and rural settings.
4DMedical estimates more than 1 million nuclear ventilation–perfusion scans are performed each year in the United States, at an average reimbursement of about US$1,150 per scan. That translates to an addressable domestic market of more than US$1.1 billion annually, with the global opportunity estimated at over US$2.6 billion.
The company believes CT:VQ’s workflow and imaging advantages position the product to capture a substantial share of that market and, over time, to replace all existing nuclear ventilation–perfusion scans while also expanding total demand for lung function imaging.
Managing director, chief executive and founder Dr Andreas Fouras said the Philips deal marks a step-change in 4DMedical’s commercialisation strategy, giving the company access to a large-scale sales force and customer base in North America following CT:VQ’s United States Food and Drug Administration clearance in September.
"This agreement represents a major commercial inflection point for 4DMedical. Philips' commitment provides compelling validation of CT:VQ™ as a transformative solution in pulmonary imaging, while opening the way for us to leverage Philips' world-class leadership, resources and reach to accelerate adoption across North America.
"The partnership builds on the growing momentum around CT:VQ™ following FDA clearance in September and adds significant commercial scale to our expansion strategy. Together with Philips, we can rapidly expand access to advanced pulmonary diagnostics, delivering powerful insights for clinicians and improved outcomes for patients."
An investor webinar hosted by Dr Fouras is scheduled for 11:00 am AEDT on Thursday, December 4, to provide further detail on the contract and rollout plans.