Health Check: Catapult propels into the soccer talent-scouting big league

• Catapult Group is buying a German soccer analytics and talent scouting firm for $140 million
• PainChek signs its maiden US aged-care client
• Biotechs flock to the funding well – with more raisings to come

A global leader in athlete health-and-performance monitoring, Catapult Group (ASX:CAT) has kicked its way into the soccer tactical analysis and talent scouting sphere with a $140 million acquisition.

Catapult is buying the private German outfit Impect GmbH, which is involved with more than 150 professional soccer teams across more than 25 countries.

Catapult has executed a $130 million placement to fund the deal and targets a further $20 million in a share purchase plan.

The purchase complements Catapult’s game-day oriented athlete performance and video analysis, creating a “unified intelligence platform”.

Catapult CEO Will Lopes says the scouting market is marked by inconsistent data, fragmentation and a lack of shared data.

The operators tend to be low margin – with the exception of Impect.

When it comes to finding the next Beckham or Maradona, “gut feeling” decisions still dominate.

“This corner of the market is waiting for someone like Catapult to turn fragmented data into real insights,” Lopes says.

Based on wearable devices, Catapult’s products are designed to optimise performance, avoid injury and improve return-to-play protocols.

Founded in Melbourne, Catapult works with more than 4,600 elite teams, across more than 40 sports in more than 100 countries.

“We want to help teams make better decisions with an all-in-one technology,” Lopes says.

Scoreboard is ticking over

Catapult this morning also provided its own performance update, for the company’s first half (FY 2026) to September 30, 2025.

Management expects annualised contract value (ACV) of around $115.5 million, 19% higher. Revenue should gain circa 15% to around  $67.5 million.

Underlying earnings should settle at $9-9.5 million, more than 45% higher.

Lopes says buying Impect will help Catapult achieve its goal of growing annual ACV from $200 million in the medium term, to $1 billion in the long term.

Catapult shares have tripled over the last year and the company bears a $2 billion-plus valuation.

Boy! That was quick

PainChek (ASX:PCK) has wasted no time signing up its first US customer, after winning US Food and Drug Administration clearance last week.

The New Jersey-based Jewish Home Family will use PainChek’s AI-enabled pain detection device, at a single facility for an initial three years. PainChek receives the US$26,200 payment upfront.

The FDA’s clearance opens PainChek to the world’s biggest aged-care market, across three million long-term beds.

The company estimates the initial opportunity at US$100 million a year, with the market expanding to around US$380 million when home-based care and hospitals are accounted for.

PainChek has distribution tie-ups with Point Click Care and Eldermark, which reach 60% of the US beds.

Cleared under the FDA’s De Novo (new device) pathway, the PainChek app is the “first and only regulated medical device for pain assessment in the US”.

The device uses facial recognition and behavioural analysis to assess pain in those unable to express their discomfort. Typcially, this results from dementia.

Ah! That feels better

Speaking of pain – and management thereof – Medical Developments International (ASX:MVP) is enjoying a golden anniversary, thanks to further signs of volume growth and better cash management.

Medical Developments has reinvented methoxyflurane – first used here in 1975 – under the Penthrox name.

A first-line pain analgesic, Penthrox is better known as the Green Whistle.

Stricken sportspeople suck on the device when hobbling from the field, which raises the question: where are those Catapult monitors when you need them?

An early bird with its September quarter report and AGM on Friday, the company said revenue had surged 21% year on year, to $10.9 million.

The business burnt $800,000 to keep the light on, versus $2.7 million previously.

The company has benefited from improved hospital sales in Australia.

Management said underlying earnings would likely be “softer” in the current year, because of altered distribution arrangements in France and Switzerland.

But these tweakings will result in “stronger financial performance over the long term”.

Meanwhile, broker Bell Potter has upgraded its recommendation on the stock from ‘speculative buy’ to ‘buy’, with an  85 cents-per-share valuation.

This implies 26% of upside.

“Now, the company needs to show a capacity to generate top line growth in a disciplined fashion,” the broker says.

Medical Developments shares vaulted 7% on Friday and a further 7.5% today.

The shares have gained around 70% year to date but have lost 88% of their value over the past five years.

Ouch!

Hydrix returns to the boards

This one won’t get any awards for timely disclosure.

Suspended since September 29, Hydrix (ASX:HYD) shares today resumed trading after the medical device maker lodged its accounts for the year to June 2025.

The numbers showed a 5% decline in revenue to $10.1 million, with expenses declining 17% to $13.4 million. The net loss fell to $3.65 million from $9.5 million previously.

Hydrix has an unusual mix of product design and consulting services. These span engineering design, development, prototyping, managing manufacturers and certification.

The company’s Hydrix Medical arm distributes cardiovascular tech, such as the Guardian real-time heart attack warning system.

Hydrix Ventures has stakes in three medical innovators. These cover hip replacement surgery, heart attack warning and non-invasive brain trauma monitoring.

The company thus spans interesting activities, but it needs to do more to monetise the promise.

As of June 30, Hydrix had slender cash of $300,000 and relies on shareholder loans.

On the money trail

Speaking of funds, cancer play Inoviq (ASX:IIQ) has raised $9.5 million in a placement and targets $2 million more in a share purchase plan.

Immunotherapy play AdAlta (ASX:1AD) has raised $500,000 from a private Hong Kong investor, at a 20% premium.

The unsolicited investment will bolster AdAlta’s hand in pursuing acquisitions that bring promising Asian therapies to western markets.

Compumedics (ASX:CMP) has entered trading halt ahead of a raising, with the announcement due on or before Wednesday.

The brain and sleep monitoring group had $2.6 million in the kitty as of June 30.

Mental health (and sleep) tech house TrivarX (ASX:TRI) has extended its voluntary trading suspension until Friday.

The company has flagged a “material acquisition and potential capital raising”. As has the cash-strapped Biotron (ASX:BIT).