ASX Announcement
- Hydrix to support development of safety-critical software and embedded electronics for Remedy’s next generation N1 robotic platform for endovascular intervention
- The Contract reinforces Hydrix’s position as a specialist engineering partner in advanced medical robotics, one of the fastest-growing segments of the global medical technology industry
- According to Grand View Research, The US advanced medical Robotics market was valued at $3.84 billion in 2025, with projected 13.1% CAGR from 2026 to 2033
- Based on the agreed scope of work, to be undertaken on a time-and-materials basis, Hydrix expects the contract to generate approximately A$3.4 million in revenue.
- Revenue will be recognised progressively in FY2027 and is >50% of Hydrix’s current market capitalisation
Hydrix Limited (ASX: HYD) (Hydrix) is pleased to announce it has secured a significant (A$3.4M) engineering development contract with US-based physical AI company Remedy Robotics.
The agreement significantly expands Hydrix’s existing multi-year relationship with Remedy Robotics and continues Hydrix’s international expansion strategy focused on delivering mission-critical medical technologies, including advanced robotics, AI-enabled systems and Class II and III medical devices.
Remedy Robotics is developing an AI-enabled robotic platform, the N1 System, for cardiovascular intervention, designed to enable experienced clinicians to perform complex endovascular procedures with increased precision and remotely over vast distances. Working with leading clinicians from around the world,
including in Australia through its clinical partnership with the Australian Stroke Alliance, Remedy aims to radically expand access to specialist stroke and cardiovascular intervention regardless of patient location.
Dr David Bell, Co-Founder and Chief Executive Officer, Remedy Robotics
Remedy Robotics Co-Founder and Chief Executive Officer, Dr David Bell, said:
“Access to specialist endovascular intervention remains one of the greatest challenges in cardiovascular care, particularly for patients outside major metropolitan centres. Our vision is to use machine learning and advanced robotics to deliver flawless, immediate intervention to patients wherever they are.
“Developing technology capable of delivering that vision demands deep experience developing regulated medical devices and the electronics and safety systems that sit behind them. Hydrix has demonstrated that multidisciplinary capability throughout our relationship and has become an important engineering partner as we accelerate toward future clinical studies.”
Hydrix Managing Director Gavin Coote said:
“The significance and continuity of our relationship with Remedy Robotics reflects the confidence David and his team place in Hydrix. Our experience developing complex regulated medical technologies supports clients developing next generation robotic and AI-enabled medical systems, and we’re delighted to continue working with Remedy as they advance this robotics platform.”
Revenue under the contracted development program will be recognised progressively within FY2027.
The new contract builds on recent development activities and substantially expands Hydrix’s engineering support across Remedy’s N1 system, including safety-critical software, embedded electronics, and verification-ready hardware input, to accelerate platform maturity ready for future clinical studies.
The Remedy N1 System in use during the world’s first fully remote neurointerventional procedure
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This announcement is authorised for release by the Board of Directors of Hydrix Limited.
For more information, please contact:
| Hydrix Enquiries: | Alan Morris – Marketing Director |
| alan.morris@hydrixltd.com | |
| +61 3 9550 8100 | |
| Media Enquiries: | Rod North – Managing Director, Bourse Communications |
| rod@boursecommunications.com.au | |
| +61 3 9510 8309 | |
| Investor Enquiries: | Niv Dagan – Executive Director, Peak Asset Management |
| niv.dagan@peak assetmanagement.com.au | |
| M 0402 912 198 |
About Hydrix Limited
Hydrix Limited’s (ASX: HYD) mission is to harness the full potential of its powerful innovation capability to deliver high impact technologies that empower and protect lives across its business segments: Services: design, engineer and deliver world first products and technology across medtech, defence, industrial and mining sectors; Ventures: invests in medtech and defence tech; Defence: Advance sensing, navigation and autonomy technologies important to long-term capability priorities in Defence and national security; Medical: distributes disruptive cardiovascular products.
Hydrix Services is a wholly owned subsidiary of Hydrix Limited. www.hydrix.com.
About Remedy Robotics
Remedy Robotics is a physical AI company developing AI-enabled endovascular robotic systems and software for on premise, remote, and autonomous intervention. Its proprietary N1 System combines robotics, AI, and advanced computer vision to raise the standard of care across the cardiovascular continuum, from diagnosis and intervention to discharge and surveillance, bringing expert-level treatment within reach of patients wherever they are. Remedy holds 48 patents covering its platform, including foundational patents in machine learning applied to surgical robotics.
Headquartered in San Francisco, Remedy is backed by DCVC, Blackbird, and Tony Fadell’s Build Collective, among others, and partners with clinicians at leading medical institutions across the U.S. and around the world. Remedy is also the exclusive robotic partner of SVIN Mission Thrombectomy, a global initiative dedicated to expanding access to stroke treatment worldwide. Learn more at www.remedyrobotics.com.