Image Sourced ShutterStock
Market Herald logo


Be the first with the news that moves the market
  • Medical technology company Volpara raised $55 million in the first quarter of the 2020 financial year
  • Volpara acquired medical software company MRS Systems which is expected to generate US$4.5 in annual recurring revenue
  • Volpara’s share price is up just over six per cent today, currently sitting at $1.64 per share.

Medical technology company Volpara reports it raised $55 million during the first quarter of the 2020 financial year.

Volpara produces artificial intelligence imaging algorithms which help with in early breast cancer detection.

Alongside the capital raise, the company acquired medical software company MRS Systems out of Seattle, United States.

The company explained the acquisition sets its up with an “experienced US office, much greater market penetration and strong cross-selling opportunities”.

Volpara also highlights gaining MRS Systems “provides a range of products today and in the future that offer much greater potential average revenue per user for our sales team to sell into the US and other markets”.

MRS Systems’ software track and report results from breast and lung cancer screenings, among others. Patient history, risk factors and outcomes of X-Rays, MRIs and Ultrasounds can be logged, with options for patient and physician access.

Currently the company has NZ$39.9 million cash on hand and operating costs remain on track with no debt accumulated.

Annual Recurring Revenue (ARR) at the end of the first quarter was NZ$13.6M for breast sales and NZ$970,000 for lung sales. MRS Systems is expected to turn out US$4.5 million in ARR.

Volpara’s share price is up just over six per cent today, currently sitting at $1.64 per share.

VHT by the numbers
More From The Market Herald
Dimerix (ASX:DXB) - Managing Director and CEO, Nina Webster

" Dimerix (ASX:DXB) expands DMX-200 study into Australia

Dimerix (DXB) has entered an agreement with the NHMRC Clinical Trials Centre at the University of Sydney to expand the CLARITY 2.

" ACCC scrambles to halt Virtus Health’s (ASX:VRT) purchase of Healius (ASX:HLS) IVF clinics

The ACCC has taken “a significant step” as it seeks an urgent injunction to stop Virtus Health’s (VRT) proposed acquisition of Adora Fertility
IDT Australia (ASX:IDT) - Chair, Alan Fisher

" IDT Australia (ASX:IDT) signs manufacturing deal with Monash University

IDT Australia (IDT) has entered a master services agreement and services order with Monash University.
Prescient Therapeutics (PTX) - CEO and MD, Steven Yatomi Clarke

" Prescient Therapeutics (ASX:PTX) to present new OmniCAR data at conference

Prescient Therapeutics (PTX) will present new results for its OmniCAR drug at the Cell & Gene Meeting on Mesa in California.