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Enlitic (ASX:ENL) has popped just south of +70% in early arvo trades as the company reveals Dutch health tech multinational Royal Philips has expanded an existing relationship to make Enlitic one of two designated vendors allowed to migrate confidential medical images (X-Rays, MRIs, etc) between entities.
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Called ‘Enterprise Imaging’ – a term unique to the healthcare industry – Philips’ customers in that space now have enhanced access to Elitic’s AI-based Digital Imaging and Communications in Medicine (DICOM) Data Migration services.
No dollar value was assigned to the contract on Tuesday, but the company wrote it expects the expanded contract to “provide an additional sources of revenue, as the Company engages, over time, with Philip’s enterprise imaging customers.”
Company CEO Michael Sistenich, discussing the contract, pointed to the radiological imaging sector as one of Enlitic’s key areas of focus.
“These enhancements should significantly accelerate DICOM migrations, enhance data quality, and streamline radiologist workflows— empowering Phillips’ customers to optimize workflow efficiency and data access,” Sistenich said.
“We look forward to meeting with current and prospective customers and partners at the annual RSNA (Radiology Society of North America) Conference in Chicago, Illinois.”
The news was well-received by the market regardless of questions around commercial materiality; with the stock’s 1Y returns down -40%, it mightn’t be surprising the market has responded with a any-news-is-good-news approach.
ENL last traded at 4cps.
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