Expanding installed base, key contracts, and a de-risked platform set the stage for major US growth
Cyclopharm (ASX: CYC) has hit a major commercial milestone in the United States, with Technegas sales surpassing US$1 million (A$1.6 million)—a sign that the company’s flagship product is gaining meaningful traction in the world’s largest healthcare market.
Since receiving FDA approval last year, Cyclopharm has grown its US installed base to 27 systems as at 31 March 2025, up from 17 at the end of December. With every new site comes a reliable stream of recurring revenue, as hospitals continue purchasing consumables for patient procedures.
CEO James McBrayer says the result is a key validation of the company’s go-to-market strategy:
“Every Technegas installation at a key opinion leader site across the US not only creates recurring revenue, but also provides a powerful foundation for the company’s long-term growth.”
Gaining ground across federal and private sectors
Momentum has also been driven by government adoption. The company has secured its second VA hospital installation under the Federal Supply Schedule contract announced earlier in March. This further embeds Technegas® into the US Department of Veterans Affairs healthcare network, a vast system that could open the door to broader federal uptake.
Additionally, Cyclopharm has landed its largest global customer contracts in recent months, spanning both US federal and private healthcare providers—a strong endorsement of the product’s clinical and operational value.
Why the US push matters
Cyclopharm now views the US market as a de-risked, high-potential platform, with several strategic tailwinds:
- Regulatory clarity: Broad FDA approval covers multiple lung imaging applications, enabling expansion beyond pulmonary embolism into COPD and asthma diagnostics.
- Reimbursement in place: Established US billing codes support predictable revenue generation for both Cyclopharm and healthcare providers.
- Supply security: With inventory already onshore and plans to build a local manufacturing facility within five years, Cyclopharm is well-positioned to meet demand and avoid supply chain hiccups.
The US is now the fourth-largest Technegas market globally, and the company expects it to become #1 by year-end 2025.
