Echo IQ Limited (ASX:EIQ), an AI and medical technology company focused on improving decision-making in cardiology through AI-driven technology and proprietary software, has announced a reseller agreement with SARC MedIQ, a leading US-based AI-imaging platform provider. The agreement aims to significantly expand the use of EchoSolv AS, Echo IQ’s flagship product, across a broad network of hospitals and cardiology practices in the United States. SARC MedIQ provides a total imaging workflow solution to over 300 healthcare facilities, catering to over 1,500 physicians.
Under the terms of the agreement, SARC MedIQ will act as a reseller of EchoSolv AS to its existing network of healthcare facilities, including university hospitals and large multi-clinic sites. SARC MedIQ will also leverage the solution to drive new business growth and further expand its reach within US hospitals and clinics. Echo IQ will receive payment on a per-scan basis from hospitals and clinics integrated through SARC MedIQ’s network.
The per-scan payment will be renegotiated to a higher reimbursement rate upon Echo IQ obtaining a Category III CPT code. According to Echo IQ, the agreement builds upon previous partnerships with ScImage and MedAxiom, which facilitated the deployment of EchoSolv in 36 affiliated hospitals and cardiology practices across the US. Currently, Echo IQ is training SARC MedIQ’s sales force on EchoSolv AS, with integration into the network imminent.
Echo IQ anticipates that the agreement will significantly reduce its sales and distribution costs, provide faster market access and scale across the US, and potentially establish a predictable revenue stream. Don Fowler, President of Echo IQ USA, stated the agreement marks an important development for the company’s US commercialisation strategy and highlights the potential for third-party EchoSolv AS sales to deliver consistent revenue at a lower cost base. Asaad Hakeem, CEO of SARC MedIQ, added that EchoSolv AS aligns with their mission to provide physicians with smarter, faster tools for better patient care, and will help cardiologists surface critical findings earlier and improve patient outcomes.
