ASX Health Stocks: HITIQ signs renewed deal with English cricket to manage concussion injuries

HITIQ signs deal with English cricket
EMVision gets $5m government grant
ProMedicus signs new contracts in the US worth $16.5m

Concussion tech specialist, HITIQ (ASX:HIQ) has renewed a subscription agreement with the English Cricket Broad (ECB) for another two years.

The deal covers the use of HIQ’s CSX concussion technology by more than 1,800 players across 32 ECB and County cricket clubs.

Detailed terms and conditions remain commercially sensitive, but HITIQ revealed that the initial financial impact is not considered material to HITIQ’s overall annual recurring revenues.

Cricket is one of the most participated sports in the world, and concussion has become a growing concern, with research demonstrating one of the 11 players on each team getting a head impact every 12 days of play, and every 36 days of match play – and suffering a concussion.

This issue came to the fore particularly after the 2014 death of Australian batsman Philip Hughes when a fast bouncer hit his head.

HITIQ’s CSX concussion management platform provides a total concussion ecosystem, supporting the identification, monitoring and management of sport-related brain injury.

The company has collected a global data bank of head impacts across all major sports, which places it in a leading position within the market.

“To continue with the ECB, who are one of the most prominent cricketing bodies in the globe, is a strong endorsement for our technology’s importance in cricket to assist in addressing the growing incidence of head injuries,” said HITIQ CEO, Mike Vega.

“Being one of the largest sports globally, measured on all metrics, this agreement provides us a great pathway into broader adoption within the cricket market globally.”

HITIQ share price today:

EMVision gets $5m grant

EMVision Medical Imaging (ASX:EMV) has just received a formal letter of offer from the Department of Industry, Science, Energy and Resources, verifying that its $5m MMI grant is proceeding.

The MMI (Modern Manufacturing Initiative) grant award is a key element of the Australian Government’s Modern Manufacturing Strategy, which aims to help Australian manufacturers scale-up and compete internationally.

The grant will assist EMVision to establish the initial production of its 1st Gen portable brain scanner product.

EM’s 1st Gen is breakthrough device which is light and portable, and is currently under development.

The technology uses signals in the electromagnetic spectrum (non-ionising) to distinguish between ischaemic and haemorrhagic strokes in a matter of minutes.

It acquires data in under 30 seconds and does not require any contrast agents.

The grant funds to be received are weighted to $3,750,000 in this financial year, and $1,250,000 in the following financial year.

EMVision says it’s working with the department to finalise the funding documentation before the end of September.

EMVision share price today:

Pro Medicus signs $16.5m worth of deals

Pro Medicus (ASX:PME) has signed three new customer contracts with a combined minimum value of $16.5m.

The contracts are with Montage Health, a regional health system in Monterey California, Children’s Hospital of Philadelphia (CHOP), one of North America’s leading academic children’s hospitals and Bay Imaging Consultants, a private radiology group in San Francisco.

PME has also renewed a 7-year, $15.5m contract with University of Florida, negotiated at an increased fee per transaction than the original pay per view contract.