Cyclopharm Limited (ASX:CYC) Secures Purchase Orders from US VA Hospitals
Purchase Orders Received
Cyclopharm Limited (ASX: CYC) has announced the receipt of purchase orders from two United States Veterans Health Administration hospitals. This move follows an Interim Agreement awarded to Cyclopharm allowing it to supply critical components of the Technegas System. The purchase orders apply to an initial five-year term covering installation and annual charges.
Impact on Medical Diagnostics
The Technegas System is aimed at enhancing the diagnostic capabilities for conditions common among veterans, including chronic obstructive pulmonary disease (COPD) and pulmonary fibrosis. James McBrayer, CEO of Cyclopharm, stated, “The purchase orders received today for Technegas Systems will allow for the first installations within the VA system during the first few weeks of 2025.” The revenue generation will commence immediately upon installation as Technegas replaces existing nuclear medicine products.
Future Perspectives
The agreements are expected to serve as a model for the other 118 nuclear medicine departments across VA hospitals. “We are very pleased that US veterans will soon have access to our Technegas technology,” said McBrayer, underscoring the broader implications this has for veteran healthcare under the PACT Act.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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