Cyclopharm (ASX:CYC) entered an agreement with Hospital Corporation of America Healthcare (HCA) to deploy its Technegas technology to the healthcare services provider's nuclear medicine departments, according to a Thursday filing with the Australian bourse.
The deal, initiated by HCA after multiple of its sites expressed interest, streamlines the process by bypassing individual contract negotiations, the filing said.
Technegas is used to diagnose lung conditions like pulmonary embolism, chronic obstructive pulmonary disease, and hypertension, the filing added.
The agreement also opens doors to collaboration with HealthTrust Purchasing Group, HCA's group purchasing organization, the company said.
Cyclopharm will now engage directly with individual HCA locations to roll out the technology, the company added.
The company's shares surged almost 13% in recent Thursday trade.
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