Daily Roundup

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Pro Medicus and Echo IQ Team Up on AI-Powered Cardiac Diagnostics

In a strategic partnership that's reshaping the cardiac diagnostics space, Pro Medicus and Echo IQ have signed a binding Heads of Agreement that combines investment, financing, and commercial distribution. Pro Medicus is investing up to A$20 million in Echo IQ through secured convertible notes—with an initial A$10 million commitment and an additional A$10 million contingent on FDA clearance of Echo IQ's EchoSolv HF product.

Beyond the capital injection, Pro Medicus will become a reseller of Echo IQ's EchoSolv technology suite across the United States, leveraging its extensive network to accelerate adoption in the US healthcare market. For Pro Medicus customers, this means Echo IQ's AI algorithms for aortic stenosis and heart failure will soon be available through the Visage 7 Cardiology platform. The definitive agreements are expected to be finalized within 20 business days, and the partnership should meaningfully expand both companies' AI capabilities and market reach.

Logistics Sector Sees Strong Growth and Consolidation

The logistics space is buzzing with activity. CTI Logistics is reporting exceptional performance, with profit before tax expected to jump approximately 75% for the year ended 30 June 2026, while full-year revenue is projected to rise about 9%. The company credits robust demand in freight services and project work in Western Australia, combined with improved fleet utilization and tight cost controls, for the impressive results. Some of these gains have been offset by holding and relocation costs tied to the newly completed Lakes Road facility in Hazelmere, but the underlying momentum is undeniable.

Meanwhile, Ashley Services Group is making a bold move by acquiring customer contracts and associated workforce from a major logistics company. The deal brings in contracts that generated $162 million in revenue for FY2026, with a purchase price set at just 1% of sales for the first two years. The acquisition is expected to close in July 2026 and should be earnings-accretive by FY2027, funded through cash flows and Westpac banking facilities.

Orcoda Lands Substantial Three-Year Contract

Orcoda has secured a multi-year workforce logistics and facilities management contract with Wagner Corporation, valued at approximately $8 million annually. The deal, commencing 1 July 2026 and running through 30 June 2029, will be delivered using Orcoda's Contractor360 platform—an automated system that streamlines the entire workforce mobilization process. The contract validates the platform's capabilities and opens doors to potential opportunities in construction, mining, and resources sectors.

Boadicea Resources Expands Copper Portfolio in Western Australia

Boadicea Resources has completed its acquisition of the Thaduna and Green Dragon copper deposits, consolidating its footprint in the Murchison Copper Belt. The combined Mineral Resource Estimate totals 5.3 million tonnes at 2.3% copper, representing 121 kilotonnes of contained copper. The company acquired 100% of Core Value Australia NL to secure these assets, with CVA principal Adrian Griffin joining Boadicea's board as a Non-Executive Director upon completion.

The timing is favorable, as copper market conditions remain highly supportive with elevated prices. Boadicea's cash position of approximately $3.2 million supports both the transaction and planned exploration drilling, which is set to commence in late July. Notably, Sandfire Resources will become a substantial shareholder with approximately 6.2% following the deal. Trading in Boadicea's shares has been reinstated following the announcement.