In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.1% to 8,722.2 points.
Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are rising:
4DMedical Ltd (ASX: 4DX)
The 4DMedical share price is up almost 5% to $4.16. Investors have been buying the respiratory imaging technology company’s shares after it announced a key acquisition. 4DMedical has signed a binding agreement to acquire Contextflow GmbH, which is an Austrian-based medical technology company specialising in lung cancer screening and advanced thoracic imaging solutions. Management notes that this means its European expansion is accelerated and provides boots on the ground in the market via an experienced Vienna-based team with established commercial, regulatory, and clinical infrastructure. Founder and CEO, Andreas Fouras, said: “4DMedical has expanded into Europe over the weekend. Upon completion of the transaction, we will have a European platform in a healthcare market approximately half the size of the United States, positioning 4DMedical across ANZ, North America and now Europe.”
IperionX Ltd (ASX: IPX)
The IperionX share price is up 1.5% to $5.92. This has been driven by news that testing completed by the U.S. Army Combat Capabilities Development Command (DEVCOM) has validated the performance of IperionX titanium fasteners manufactured with advanced patented titanium technologies. IperionX’s CEO, Taso Arima, said: “These results represent a key independent validation milestone for IperionX’s high-performance titanium fasteners manufactured with our advanced patented titanium technologies.”
Pro Medicus Ltd (ASX: PME)
The Pro Medicus share price is up 8% to $143.28. This health imaging technology company’s shares are storming higher today after it announced a new contract win. Pro Medicus has signed a five-year, A$28 million contract renewal with Allegheny Health Network (AHN). The new contract includes the addition of Visage 7 Workflow. Pro Medicus’ CEO, Dr Sam Hupert, said: “We are very pleased to have played such a key role in AHN’s growth over the past 10 years. AHN has now renewed for a third contract term, reflecting the strength of our long-standing partnership and the value our platform continues to deliver across their organisation.”
Ventia Services Group Ltd (ASX: VNT)
The Ventia Services share price is up 2% to $6.33. This morning, this essential infrastructure services provider announced a five-year contract extension for the AMC-Common User Facility. It is valued at approximately $133 million. Ventia has managed the AMC-Common User Facility in Henderson for the Western Australian Government since 2022.
The post Why 4DMedical, IperionX, Pro Medicus, and Ventia shaares are storming higher today appeared first on The Motley Fool Australia.
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More reading
- This ASX healthcare rocket is up 14% in a week. Here’s why investors are still buying
- IperionX gains U.S. Army validation as titanium fasteners outperform steel
- Why are Pro Medicus shares rocketing 12% today?
- Ventia secures $133m contract extension at Australian Marine Complex
- Pro Medicus renews $28m contract with Allegheny Health Network
Motley Fool contributor James Mickleboro has positions in Pro Medicus. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.