- First SAPPHIRE commercial conversion
- Five-year commercial agreement with recurring and usage-based revenue model
- Enterprise-scale deployment
- Validation of US strategy
Perth-headquartered medical technology company Artrya (ASX: AYA) has signed a five-year commercial agreement with Huntsville Hospital Health System (HH Health) in the US.
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The agreement marks the first conversion of a SAPPHIRE Study participant into a commercial customer and represents an important milestone in Artrya’s US commercial strategy.
John Konstantopoulos, co-founder and CEO of Artrya, said the conversion of HH Health from a SAPPHIRE Study participant into a commercial customer is an important milestone for Artrya’s US strategy.
“A key objective of SAPPHIRE is to establish deep clinical engagement with US cardiovascular centres and create a pathway toward broader commercial adoption of Salix®. Huntsville becoming the first SAPPHIRE participant to enter into a five-year commercial agreement demonstrates that strategy in action,” he said.
“Importantly, this is a multi-module commercial relationship. The agreement establishes recurring SaaS revenue from Salix® Coronary Anatomy, with additional fee-per-scan revenue from Salix Coronary Plaque and, following FDA clearance, Salix Coronary Flow.
“With HH Health joining Tanner Health, Northeast Georgia Health System and Cone Health, Artrya now has four US commercial customers. Our focus is on successfully deploying Salix across these customers while continuing to progress our SAPPHIRE relationships and broader US commercial activities.”
The five-year agreement with HH Health marks Artrya’s first commercial conversion from its SAPPHIRE Study network and expands the Company’s US commercial customer base from three to four.
SAPPHIRE forms part of Artrya’s broader US clinical and commercial strategy, establishing collaborations with leading and high-volume cardiovascular centres while providing participating organisations with direct exposure to the Salix platform. HH Health’s progression from SAPPHIRE participant to commercial customer provides the first example of this strategy progressing from clinical research engagement to commercial adoption.
Artrya will continue to progress its relationships with other SAPPHIRE participants alongside its broader US commercial activities.
AYA was up 18.7% to $4.07. Mkt cap $558.9M.
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