Cyclopharm (ASX:CYC) secured a five-year federal supply schedule agreement with the US Veterans Health Administration, expanding Technegas' adoption within the federal healthcare system, according to a Friday filing with the Australian bourse.
Technegas is a radioactive carbon dispersion used in ventilation-perfusion scans to diagnose lung conditions, including pulmonary embolism.
The deal streamlines procurement processes for US federal agencies, including the Veterans Administration (VA), Department of Defense, and Public Health Service hospitals by eliminating individual contracts across VA's 20 regional procurement offices, the filing said.
Shares rose nearly 4% in afternoon trade Friday.
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