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ARLINGTON HEIGHTS, Ill. - GE HealthCare (NASDAQ:GEHC), a prominent player in the Healthcare Equipment & Supplies industry with a market capitalization of $34.6 billion, announced Monday a Distribution and Services Agreement with CardioNavix, a division of CDL Nuclear Technologies, to expand the availability of its cardiac PET imaging agent Flyrcado. According to InvestingPro analysis, the company is currently trading below its Fair Value, suggesting potential upside opportunity.
The collaboration aims to bring Flyrcado to patients nationwide, particularly in private cardiology practices and outpatient settings. CardioNavix, which supports approximately 220,000 cardiac PET procedures annually through nearly 225 U.S. customer sites, will become the first distributor to bring Flyrcado to private practice cardiology. This expansion aligns with GE HealthCare’s strong market position, supported by annual revenues of nearly $20 billion and a healthy gross profit margin of 41.6%.
Flyrcado is used for positron emission tomography myocardial perfusion imaging to evaluate patients with known or suspected coronary artery disease. In the Phase III AURORA trial, the imaging agent demonstrated higher diagnostic efficacy compared to SPECT myocardial perfusion imaging.
"This collaboration with CardioNavix is an important step in making Flyrcado available for patients nationwide, across all sites of care," said Eric Ruedinger, vice president and general manager of GE HealthCare’s Pharmaceutical Diagnostics division for the U.S. and Canada, according to the press release.
Initial rollout of Flyrcado through this agreement will begin in late 2025, with broader expansion planned throughout 2026. The partnership pairs CardioNavix’s program setup and clinical support capabilities with GE HealthCare’s contract manufacturing organization network.
Currently, PET myocardial perfusion imaging represents approximately 5-10% of the estimated six million myocardial perfusion imaging procedures performed annually in the U.S., according to information provided in the company statement.
GE HealthCare’s Pharmaceutical Diagnostics division provides imaging agents used in approximately 130 million procedures globally each year. The company maintains a strong financial profile with an impressive Piotroski Score of 8, indicating robust operational efficiency. For detailed insights and additional ProTips about GE HealthCare’s financial health and growth prospects, visit InvestingPro, where you’ll find comprehensive analysis in our Pro Research Report.
In other recent news, GE HealthCare Technologies Inc reported its Q2 2025 earnings, showcasing a mixed financial performance. The company achieved revenue of $5 billion, supported by a 2% organic revenue growth. Additionally, GE HealthCare’s adjusted earnings per share increased by 6% year-over-year, reaching $1.06. Despite these positive figures, the company’s stock experienced a decline, attributed to investor concerns over operational metrics and future guidance. The earnings report has caught the attention of analysts, though specific upgrades or downgrades from firms were not mentioned in the recent news. These developments highlight the ongoing scrutiny and analysis by investors and analysts alike.
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