ASX Medical Tech Company Artrya Boosted by Commercial Momentum
Artrya saw its share price surge more than 6.4% on Tuesday following news that the company has successfully converted all three U.S. foundation partners into commercial customers in 2025, so is it a time for investors to consider building a position?
Artrya Limited (ASX: AYA)
on 23 December announced that it signed a five-year commercial agreement with Cone Health which makes it the company’s third U.S. commercial customer for the Salix AI powered coronary imaging platform.
The agreement carries a minimum value of US$0.45 million and includes recurring subscription revenue along with additional per scan income.
This development confirms the successful conversion of all three U.S. foundation partners into paying commercial customers during 2025 which highlights rising clinical acceptance and growing commercial traction.
On 12 December, the company also announced that Tanner Health commenced commercial use of the Salix Coronary Plaque module which generated Artrya’s first fee per scan revenues.
This followed the expansion of Tanner Health’s existing Salix Coronary Anatomy agreement which added per scan revenue on top of subscription income.
Each assessment under this arrangement is eligible for a U.S. Category 1 CPT reimbursement rate of US$950.
The activation represents an important step in scaling Artrya’s U.S. revenue base as plans are underway to roll out the module across additional hospitals within the Tanner Health network.
During the September quarter, the company recorded total operating cash outflows of almost $6 million and the balance sheet got much stronger after Artrya raised $80 million through a placement and share purchase plan which lifted cash on hand to a pro forma level of about $82.5 million after post quarter inflows.
Overall, Artrya is well positioned for its next phase of growth with a strong cash position that provides the financial capacity to scale its platform and deepen adoption across major U.S. healthcare networks.
(Source: Company Reports)
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