The 4DMedical Ltd (ASX: 4DX) share price jumped higher today as the company was involved in Goldman Sachs Healthcare Forum. Despite only listing 2 months ago, 4DMedical has taken no time to grab investors' attention, surging almost 20%.
4DMedical shares pushed 14.11% higher to close at a price of $1.90.
What 4D Medical does
Founded in 2012, 4DMedical is a Melbourne based software technology company focused on creating a change in the capacity of physicians to diagnose and manage patients with diseases involving their lungs.
The imaging company is focused on commercialising its '4D' lung imaging technology, which uses patented algorithms to convert X-ray images into quantitative scan data. Unlike existing respiratory diagnostic procedures, its technology provides a non-invasive way of understanding regional lung motion and airflow in real-time. The company's major focus is on US market commercialisation.
So What
The respiratory diagnostic sector represents a global market of over US$31 billion per annum according to Goldman Sachs.
Furthermore, Goldman points out that existing lung diagnostics are outdated. Over the last 200 years, advances in medical diagnostic technology have delivered dramatic benefits for mankind whilst advancements in lung diagnostics have stagnated. The current gold standard modality to diagnose lung dysfunction (Spirometry) was invented in the 1860s.
4DMedical uses its XV technology to change this. Its XV Technology allows physicians to understand airflow within the lung better. The technology leverages existing hardware and software in hospitals to deliver its XV Technology quicker and at a lower cost to existing procedures.
Moreover, the technology operates through a cloud based Software as a Service platform that fully integrates with existing X-ray equipment, alleviating the requirement for hospitals and clinics to make a capital investment.
The Goldman Sachs report outlines the investment opportunity and many investors clearly like what they hear as the 4DMedical share price soars.
Now what
Despite being early days for 4DMedical, the company has wasted no time in getting important TGA approval. This was perhaps aided as a result of the strong tailwinds provided by Covid-19 due to its damaging nature to the lungs.
As if the company doesn't already have enough going for it, 4DMedical also boasts backing by Dr. Sam Hupert, the Co-founder and CEO of Pro Medicus Limited (ASX: PME).
