Australia's 4DMedical jumps on distribution deal in US

4DMedical

27/09/2024 02:27

** Shares of 4DMedical Ltd  4DX.AX  jump 44.9% to A$0.645,
set for their best day since Nov 13, 2023, if gains hold
    ** Medical technology firm says it has signed a distribution
agreement with Dutch medical device maker Koninklijke Philips NV
 PHG.AS  
    ** Co says, Philips will have exclusive distribution rights
to co's suite of products with U.S. govt customers and
non-exclusive rights with all other U.S. customers
    ** Adds, the 5-yr deal will leverage Philips' established
and existing commercial partnerships with both the U.S. Veterans
Health Administration and the Department of Defense
    ** Stock down ~19% YTD
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com))