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4DX Daily Timeframe Chart as of 29 May 2026
4DMedical (ASX: 4DX) CT:VQ™ Enters US Outpatient Market Through SimonMed's 170-Site Network — Commercial Terms From Day One, No Evaluation Phase
No trial period, no evaluation phase — straight to commercial deployment. 4DMedical has signed a three-year commercial agreement with SimonMed Imaging, one of the largest and fastest-growing outpatient imaging providers in the United States (170+ centres across 10 states, 300+ radiologists), to deploy CT:VQ™ and LDAf™ on per-scan SaaS pricing from day one. The move extends CT:VQ's footprint from leading Academic Medical Centers (Stanford, Cleveland Clinic, Mayo Clinic, UC San Diego Health) into scaled outpatient imaging networks — a different customer profile with higher volume and broader geographic reach. SimonMed will also support reimbursement evidence development by sharing insurance and claims data across its network. The company described the agreement as "not immediately financially material" but a "material long-term opportunity." The stock moved +18.9% to $3.970 on 29 May 2026, closing on the session high.
What SimonMed Adds — Scale, Volume, and Reimbursement Data
| Detail | Value |
|---|---|
| Partner | SimonMed Imaging (Scottsdale, AZ) |
| Network | 170+ outpatient imaging centres across 10 US states |
| Radiologists | 300+ |
| Products Deployed | CT:VQ™ (ventilation-perfusion) + LDAf™ (parametric response mapping) |
| Contract Term | 3 years |
| Pricing | Per-scan SaaS model |
| Evaluation Phase | None — immediate commercial deployment from day one |
| Financial Materiality | "Not immediately financially material" (company's own description) |
| Reimbursement | SimonMed shares insurance/claims data to support payor engagement |
The strategic value sits in two areas beyond near-term revenue. First, SimonMed's 170-site network generates high scan volumes — even at modest per-scan rates, the cumulative revenue opportunity over three years is meaningful if adoption scales across the network. Second, the reimbursement data partnership is potentially more valuable than the scan revenue itself: real-world claims data from a major outpatient network strengthens 4DMedical's case for broader payor coverage, which is the key to unlocking the full US market opportunity.
CT:VQ™ — What It Does and Why It Matters
CT:VQ™ extracts functional ventilation and perfusion information from standard CT scans without radioactive tracers, contrast agents, or specialised nuclear medicine facilities. It received FDA 510(k) clearance and CMS Medicare reimbursement approval in September 2025 — twin regulatory breakthroughs that removed the primary barriers to US adoption. The technology positions as a replacement for traditional nuclear medicine V/Q scans, offering faster, safer, and more accessible diagnostics from existing CT infrastructure.
Since FDA clearance, 4DMedical has assembled an institutional customer base including Stanford, Cleveland Clinic, Mayo Clinic, University of Chicago Medicine, UC San Diego Health, and University of Michigan — complemented by the Philips partnership (minimum US$10M order commitment 2026–2027), a GSK pharma R&D contract (April 2026), and the AstraZeneca Brazil lung screening program. SimonMed represents the first large-scale outpatient network deployment.
4DMedical's Financial Position — Well-Funded, Pre-Profitability
FY2025 revenue was A$5.85 million (up 55.9% YoY), with losses of approximately A$30 million. The company completed a A$150 million institutional placement in Q1 2026 and a A$83 million private placement in March 2026, giving a proforma cash position of approximately A$206 million as at December 2025. Pro Medicus invested A$10 million strategically. The company is delivering SaaS products at 388 sites globally (up 60% YoY) and produced over 74,000 scans in Q4 FY2025 (up 105% YoY).
Risks & Considerations
The company explicitly described the agreement as "not immediately financially material" — meaning near-term revenue impact is limited. The per-scan SaaS model requires sustained adoption across SimonMed's network to generate meaningful revenue, and there is no minimum scan volume or revenue commitment disclosed. Outpatient imaging centres have different economics and clinical workflows from Academic Medical Centers — CT:VQ adoption patterns may differ.
The stock has been volatile in May 2026, with 15%+ intraday swings and sharp reversals from technical resistance zones. The approximately 1,200% rally from the $0.230 52-week low means the stock is pricing significant future revenue growth that has not yet materialised in the P&L — FY2025 revenue was A$5.85 million against a market capitalisation exceeding A$2 billion. The gap between current revenue and the market's implied expectations creates downside risk if commercial traction slows.
Reimbursement remains the central challenge. While Medicare CMS approval was obtained, broader commercial payor coverage is still being developed. SimonMed's claims data sharing supports this effort but does not guarantee additional payor approvals or coverage expansion.
Key Dates & Timeline
| Date | Event |
|---|---|
| September 2025 | FDA 510(k) clearance + CMS Medicare reimbursement for CT:VQ |
| December 2025 | Philips partnership (min US$10M order commitment 2026–2027) |
| Q1 2026 | A$150M institutional placement; Mayo Clinic contract |
| March 2026 | A$83M private placement for European expansion |
| April 2026 | GSK pharma R&D contract |
| 29 May 2026 | SimonMed 170-site commercial agreement; stock moved +18.9% |
| TBC | CT:VQ deployment ramp across SimonMed network |
Price Data
- Previous Close: $3.340
- Close Price (29 May 2026): $3.970
- Change (29 May 2026): +18.9%
- 52-Week Range: $0.230 – $7.550
Notable Price Levels
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$7.550 — 52-week high. At ~90% above the announcement-day close, the stock remains well below its peak despite the SimonMed deal and the institutional customer roster. The decline from $7.550 to the $3.30–$3.65 pre-announcement range reflects May 2026 profit-taking and technical resistance, not a deterioration in the commercial narrative.
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$3.970 — announcement-day close on the session high with zero intraday reversal. The close-on-high pattern indicates sustained buying with no profit-taking at the peak — notable given that May 2026 has seen multiple 15%+ intraday reversals on 4DX catalyst days (including an 8.75% close-down from a $4.35 intraday high the prior week on a clinical validation announcement).
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$3.340 — undisturbed close within the $3.24–$3.65 consolidation range that has characterised late May 2026 trading. A retracement here would fully unwind the SimonMed premium.
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$0.230 — 52-week low, set before FDA clearance, CMS reimbursement, and the institutional customer and capital raise arc. A return here would reverse the entire ~1,200% re-rating — an extreme scenario requiring fundamental collapse of the CT:VQ commercial thesis.
Summary
4DMedical has signed a three-year commercial agreement with SimonMed Imaging — one of the largest US outpatient imaging providers (170+ centres, 10 states, 300+ radiologists) — to deploy CT:VQ™ and LDAf™ on per-scan SaaS pricing from day one with no evaluation phase. SimonMed will also share insurance and claims data to support 4DMedical's reimbursement case across public and private payors. The stock moved +18.9% to $3.970 on 29 May 2026, closing on the session high. The company described the deal as "not immediately financially material" but a "material long-term opportunity." The agreement extends CT:VQ from Academic Medical Centers (Stanford, Cleveland Clinic, Mayo Clinic) into high-volume outpatient networks for the first time. 4DMedical holds approximately A$206 million in proforma cash following A$233 million in placements since Q1 2026, with FY2025 revenue of A$5.85 million and 388 global SaaS sites.
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