Local medtech company marks rapid expansion in lung disease technology

ASX-listed medtech company, Cyclopharm, is making a major impact in lung disease. Its Technegas device for diagnosing COPD and asthma has surpassed a significant milestone of $1 million in US sales. This achievement marks a transformative moment for the Sydney-based company as it accelerates its footprint in the United States.

Cyclopharm has seen rapid expansion in the US market, with Technegas systems now installed in 27 medical facilities – up from just 17 three months earlier. This surge highlights the growing demand for the device, which combines advanced imaging technology and artificial intelligence (AI) to enhance diagnostic capabilities.

“Crossing the $US1 million sales threshold in the US is validation of our commercial strategy,” said Cyclopharm CEO James McBrayer. “This milestone reflects the increasing adoption of Technegas and our commitment to the world’s largest healthcare market.”

In under a year since its commercial launch in the US, the device has propelled the country into becoming Cyclopharm’s fourth-largest global market. If the current growth pace continues, the US is on track to become the company’s largest market by the end of 2025.

For Cyclopharm, each new installation isn’t just a one-off sale; it represents an ongoing revenue stream through consumables, creating what the company terms as “sustainable annuity income.”

In addition to its commercial success, Cyclopharm has secured another order from the US Department of Veterans Affairs, further cementing its presence in the federal healthcare system. The company’s continued growth reflects the increasing recognition of Technegas as a valuable tool in lung diagnostics.

Looking ahead, Cyclopharm is planning to build a manufacturing facility in the US within the next five years. This move will strengthen its supply chains and ensure the company remains competitive in an expanding market, while also safeguarding long-term profit margins.

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