SYDNEY, June 27, 2026, 05:01 AEST
- Pro Medicus closed at A$188.88 on Friday, up 1.9%. The stock added 9.3% over the week.
- The stock gained roughly A$1.03 billion in value after the deal, around 52 times Echo IQ’s full A$20 million commitment.
- Pro Medicus now has a proposed U.S. reseller deal for EchoSolv with Echo IQ. Legal documents are expected in 20 business days.
- Pro Medicus rallied this week, days after the company dropped out of the S&P/ASX 50.
The ASX cash market was closed over the weekend in Sydney at the dateline time. Regular hours for ASX cash trading are 09:59:45 to 16:00:00 Sydney time, followed by the closing auction. Australian Securities Exchange
Pro Medicus Limited ASX:PME finished the session Friday at A$188.88, rising 1.88%. Shares moved between A$179.50 and A$189.78. Trading volume hit 500,440, topping its average of 356,130. Market cap was A$19.73 billion. The stock ended the day far from its 52-week high of A$336.00. Google
PME jumped this week, finishing at A$188.88, up 9.3% from A$172.80 a week ago. The S&P/ASX 200 Index (INDEXASX:XJO) closed Friday up 0.18% at 8,764.2 but was down 0.7% over the week. Intelligent Investor
PME’s stock jumped A$9.89 a share by Friday, closing at A$178.99 on June 24 before the Echo IQ story broke. With 104.47 million shares out, that extra equity comes to around A$1.03 billion, which stacks up to about 52 times the A$20 million max covered by the deal.
Pro Medicus said it signed a binding heads of agreement with Echo IQ Ltd ASX:EIQ covering a financing facility plus a reseller deal linked to Echo IQ’s AI tools for aortic stenosis and heart failure. Pro Medicus said both firms have 20 business days to negotiate final legal agreements or the deal could be dropped. CEO Sam Hupert said the company wants Visage 7 Cardiology customers to have the option of Echo IQ’s technology. Company Announcements
Echo IQ said it will get A$10 million in secured convertible notes to start. There’s an option for another A$10 million if EchoSolv HF gets the green light from the U.S. Food and Drug Administration. The notes pay 12.5% annual interest, compound daily, and come due in 24 months. They’re secured against Echo IQ’s assets, covering both its aortic stenosis and heart failure algorithms.
That setup is important for PME holders. The first A$10 million payment is just around 0.05% of Pro Medicus’ market cap as of Friday. The share move doesn’t read as a response to extra finance income; it seems more like investors are putting a value on Pro Medicus based on Visage 7 Cardiology as a path to distribute outside AI.
S&P Dow Jones Indices dropped Pro Medicus from the S&P/ASX 50 at the open on June 22, putting ALS Limited ASX:ALQ into the slot. That shift tends to trigger passive-fund selling as the rebalance date hits. The timing didn’t help with index flows. Still, PME closed the week up. MF & Co. Asset Management
Week ahead looks tightly focused. Investors are eyeing the 20-business-day paperwork window, the EchoSolv HF FDA process and commercial terms. Echo IQ’s risk statement says FDA clearance isn’t certain, and that Pro Medicus doesn’t have to put another A$10 million in even if clearance comes through.
