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Hydrix (ASX:HYD) has this week secured an A$3.4 million engineering development contract with United States-based Remedy Robotics, strengthening a long-standing relationship between the two companies and expanding Hydrix’s role in the development of next-generation medical robotics.
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The agreement will see Hydrix provide safety-critical software for Remedy Robotics’ N1 robotic platform, which is being developed for endovascular intervention. The work is expected to generate ~$3.4M in revenue. According to Hydrix, the contract represents more than 50% of Hydrix’s current market capitalisation.
Remedy is developing the AI-enabled N1 System to assist clinicians performing complex endovascular procedures with greater precision while enabling remote intervention capabilities. The platform has been developed with leading clinicians, including through its partnership with the Australian Stroke Alliance.
Hydrix said the contract reinforces its position as a specialist engineering partner in advanced medical robotics, a segment of the medical technology industry experiencing strong global growth. The company cited Grand View Research estimates valuing the global medical robotics market at US$3.84 billion in CY25, with a compound annual growth rate of 13.1% between CY26 and CY33.
Hydrix said the agreement supports its broader international expansion strategy, which is focused on delivering mission-critical medical tech, including advanced robotics, AI-enabled systems and Class II and Class III medical devices.
The company operates across services, defence and medical technologies, with its medical division specialising in the development and commercialisation of advanced cardiovascular products and engineering solutions.
HYD is trading at 40cps.
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