4DMedical Lands Commercial Deal to Deploy Lung Imaging Software Across 170 US Sites

4DMedical secures commercial contract with SimonMed to deploy CT:VQ across 170 US imaging centres

4DMedical (ASX: 4DX) has signed a three-year commercial agreement with SimonMed Imaging for immediate deployment of its CT:VQ and LDAf cardiopulmonary imaging software across SimonMed’s network of more than 170 outpatient imaging centres. The agreement operates on commercial terms from day one, bypassing typical evaluation phases and moving directly to per-scan pricing.

SimonMed is a physician-led radiology group headquartered in Scottsdale, Arizona, operating across 10 US states with over 300 radiologists. The network is recognised for its methodical approach to technology validation, thoroughly assessing new capabilities before scaled deployment. CT:VQ extracts functional cardiopulmonary analysis from standard CT scans without requiring additional contrast agents or nuclear medicine studies, enabling clinicians to assess lung ventilation and perfusion function from existing imaging workflows.

This marks 4DMedical’s first major outpatient network contract following FDA clearance, extending the company’s US footprint beyond academic medical centres into high-volume commercial imaging infrastructure. The partnership structure includes a reimbursement evidence development component, with SimonMed sharing insurance and claims data to support payor engagement.

What is CT:VQ and why does it matter for lung disease diagnosis?

CT:VQ is software that analyses standard CT scans to reveal lung ventilation and perfusion function. Traditional lung function assessment requires separate nuclear medicine studies or contrast agents; CT:VQ extracts this information from routine chest CT imaging already performed in clinical practice. The technology generates quantitative maps showing how air moves through different regions of the lungs (ventilation) and how blood flows to those areas (perfusion).

Clinical applications include earlier detection of asthma and COPD, more precise risk stratification, and improved treatment planning. Dr Sean Raj, Chief Medical Officer and Chief Innovation Officer at SimonMed, stated the technology “has the potential to help physicians identify diseases that affect millions of patients, including asthma and COPD, earlier, stratify risk more precisely, and ultimately support more personalized care and better outcomes for patients.”

The SaaS delivery model enables rapid deployment across multi-site networks without requiring new hardware. SimonMed’s existing CT scanners become capable of producing functional lung analysis through software integration alone. This creates a new revenue layer from existing imaging infrastructure, providers extract more clinical value from scans they already perform, adding diagnostic capability without capital expenditure on additional equipment.

Commercial terms signal market confidence in 4DMedical’s technology

The agreement’s structure reflects significant confidence in CT:VQ’s clinical and operational value. SimonMed is moving directly to commercial deployment on per-scan pricing, bypassing the evaluation or pilot phases that typically characterise medtech adoption cycles. This represents a departure from the standard pathway where imaging providers trial new technologies before committing to scaled rollouts.

SimonMed’s reputation for disciplined technology validation before deployment makes this immediate commercial adoption particularly notable. The company thoroughly assesses new capabilities to safeguard quality of care while maximising clinical impact across its network. The decision to deploy CT:VQ commercially from day one indicates SimonMed’s validation process has confirmed the technology’s readiness for production use.

4DMedical stated the agreement is “not immediately financially material” but represents a “material long-term opportunity”. The commercial structure includes three-year term length, per-scan pricing reflecting 4DMedical’s standard rates, and a reimbursement evidence partnership. SimonMed will share insurance and claims data across its network to inform payor engagement for CT:VQ, creating visibility into reimbursement patterns that can support broader adoption.

Dr Sean Raj, MD, MBA
Chief Medical Officer and Chief Innovation Officer, SimonMed

“By extracting functional cardiopulmonary information directly from standard CT scans without additional contrast or nuclear medicine studies, we believe this technology has the potential to help physicians identify diseases that affect millions of patients, including asthma and COPD, earlier, stratify risk more precisely, and ultimately support more personalized care and better outcomes for patients.”

Key agreement terms

• Immediate clinical deployment on commercial terms (no evaluation phase)
• Three-year agreement with per-scan pricing
• Partnership to develop reimbursement evidence across public and private payors
• Insurance and claims data sharing to inform CT:VQ payor engagement

US market momentum accelerates following FDA clearance

Managing Director and CEO Andreas Fouras framed the SimonMed contract within 4DMedical’s broader US expansion trajectory: “In just months since FDA clearance, we have established CT:VQ across leading Academic Medical Centers and are now extending into large-scale imaging networks.” The deal positions SimonMed as the outpatient extension of an academic-to-commercial adoption pathway, moving from clinical validation environments into high-volume community imaging.

Fouras described the commercial structure as “particularly compelling”, noting the absence of an evaluation phase and immediate deployment on commercial terms reflects “growing confidence in the clinical and operational value of CT:VQ”. He stated 4DMedical has “unstoppable momentum in the U.S.” and expects that momentum to “accelerate further” with increasing reimbursement visibility and expanding market adoption.

SimonMed’s position as “one of the largest and most influential outpatient imaging providers in the United States” validates the technology’s commercial scalability beyond academic institutions. The company operates in 10 states with over 170 imaging centres, representing substantial geographic and operational scale.

Andreas Fouras
Managing Director, CEO and Founder, 4DMedical

“Their decision to adopt CT:VQ, moving directly to commercial deployment, is a major milestone for 4DMedical and a strong validation of both our technology and our clinical value.”

From academic validation to scaled commercial deployment

The strategic sequence follows a defined pathway: FDA clearance enabled academic medical centre adoption, which has now translated into outpatient network expansion. Academic institutions typically serve as clinical validation environments for new diagnostic technologies; successful adoption in these settings provides evidence supporting broader commercial deployment. SimonMed’s decision to implement CT:VQ commercially demonstrates this validation is converting into scaled revenue opportunities.

Fouras noted 4DMedical has established “a position of strength across leading academic medical centers” and is “now extending that leadership into scaled commercial deployment”. SimonMed’s classification as a “large, fast-growing and influential radiology network” positions the partnership as a reference case for other outpatient imaging providers evaluating CT:VQ adoption.

The reimbursement evidence development component addresses a critical adoption barrier for diagnostic technologies. Increasing reimbursement clarity is expected to support further adoption by reducing financial uncertainty for imaging providers considering CT:VQ deployment. SimonMed’s agreement to share claims data creates visibility into how public and private payors respond to CT:VQ billing, informing 4DMedical’s payor engagement strategy.

The deal demonstrates 4DMedical is converting early clinical adoption into recurring commercial revenue streams, de-risking the path to scaled US monetisation. SimonMed operates on the same per-scan pricing model deployed across 4DMedical’s academic partnerships, creating revenue consistency as the company scales its installed base.

What this partnership means for 4DMedical shareholders

The SimonMed agreement delivers commercial traction, reimbursement pathway development, and validation of 4DMedical’s SaaS revenue model. The partnership strengthens the company’s positioning as “partner of choice for next-generation CT-based functional imaging in the U.S.”, extending market presence from academic institutions into high-volume outpatient networks.

4DMedical acknowledged the agreement is not immediately financially material but framed the long-term revenue opportunity from 170+ sites operating on per-scan pricing. The SaaS model generates recurring revenue as scan volumes scale across SimonMed’s network, with no capital equipment sales required. Each centre represents a potential revenue stream that compounds as utilisation increases.

The reimbursement evidence development component creates strategic value beyond immediate revenue. Insurance and claims data from SimonMed’s network will inform payor engagement, potentially accelerating reimbursement coverage decisions that remove adoption barriers for other imaging providers. Increasing reimbursement visibility is a catalyst to watch as 4DMedical expands its US commercial footprint.

1. Commercial validation from a major US outpatient network
2. Per-scan SaaS revenue model across 170+ sites
3. Reimbursement evidence development through claims data partnership
4. Demonstrates conversion from academic adoption to scaled commercial deployment
5. Strengthens US market positioning ahead of further network expansion

Want to track 4DMedical’s US expansion as it scales across 170+ imaging centres?

SimonMed’s immediate commercial deployment validates CT:VQ’s readiness for high-volume outpatient networks, bypassing evaluation phases that typically delay medtech adoption. The per-scan SaaS model creates recurring revenue potential as utilisation scales across the network.

For detailed company updates, financial analysis, and investment insights on 4DMedical’s US commercialisation strategy, visit the 4DMedical investor centre. Stay informed as reimbursement evidence develops and the outpatient network footprint expands.