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How 4DMedical’s billion dollar day silenced its critics (for now)

A “not financially material” contract with the influential Mayo Clinic triggered another surge in the medtech’s share price. Naysayers are starting to doubt themselves.

Hugo Mathers
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US-based Mayo Clinic, which refers to itself as “the number one hospital in the world”, has campuses in Arizona, Florida, and Minnesota. Brandon Klein/Shutterstock.

Even by 4DMedical’s recent form, which has seen its share price surge more than 1,800% over the eight months to Tuesday’s close, a 35% rally on Wednesday was a fairly remarkable bump.

The Melbourne-based medtech company spurred a buying spree after announcing the use of its flagship lung imaging technology CT:VQ at Mayo Clinic in the US.

“I’ve probably been proven more wrong over time, I mean I have,” Cyan Investment Management founder and portfolio manager Dean Fergie told Capital Brief.

“I’ve been saying the company needs to grow into its valuation. And clearly a benchmark hospital like the Mayo Clinic is incredibly important for them.”