Dunedin cancer diagnostic company Pacific Edge has passed a significant milestone in the US, signing a Federal Supply Schedule contract with the Veterans Health Administration.
News of the deal with the largest integrated healthcare system in the US prompted a 25% share spike, up to 52c, before easing back to 48c.
The Federal Supply Schedule (FSS) contract means 8.8 million veterans, and their families, enrolled in the VHA scheme covering 1700 sites will have access to Pacific Edge's mainstay Cxbladder product.
The same contract also provides Cxbladder access at 150 US Department of Defence facilities across the US.
Pacific Edge chief executive David Darling said the VHA was one of three large customers being targeted in the US and could eventually become one of Pacific Edge's largest US customers.
The VHA was a separately funded federal programme for veterans and their families and was recognised "as a large and unique organisation''.
"This contract adds to our commercial momentum in the United States and increases our penetration of this key market,'' Mr Darling said.
Pacific Edge's US sales force was recently increased to 18 dedicated sales executives operating in key geographic regions, who can now work with the VHA and defence facilities and their healthcare providers to secure access to Cxbladder, he said.
Pacific Edge launched commercial operations in the United States, the world's largest healthcare market, in mid-2013, and has its own laboratory in Pennsylvania.
Cxbladder Monitor was launched in New Zealand last December and will this year be released in the US while a third product in the suite, Cxbladder Predict, is planned for launch in late 2016.
