Highlights

Enlitic has fulfilled all financial requirements under its Memorandum of Understanding with GE HealthCare following a successful AUD 10 million capital raise.

GE HealthCare has made an initial advance payment of USD 2 million to Enlitic under a newly signed Advanced Payment Agreement.

The collaboration could generate up to AUD 46 million in revenue over five years for Enlitic, based on agreed annual migration capacity targets.

Enlitic, Inc. (ASX:ENL) has confirmed the successful completion of key financial milestones under its binding Memorandum of Understanding (MOU) with GE HealthCare, paving the way for the formal commencement of a multi-year strategic collaboration.

The announcement follows Enlitic’s earlier AUD 10 million capital raise completed in early June 2025, which was a condition for triggering the next phase of engagement with GE HealthCare. With this requirement now satisfied, both parties have signed an Advanced Payment Agreement, enabling the release of an initial USD 2 million payment from GE HealthCare to Enlitic.

The funding confirms Enlitic's readiness to proceed with its role as a foundational collaborator in GE HealthCare’s Genesis Cloud Product Suite, as initially disclosed to the market on 5 March 2025. Under the terms of the partnership, Enlitic’s wholly owned U.S. subsidiary, Laitek, Inc., will provide annual migration capacity of between USD 3 million and USD 6 million (approximately AUD 4.6–9.2 million) for the next five years. This could result in total revenue of up to AUD 46 million over the term of the agreement.

The MOU, signed on 5 May 2025, outlines a framework for a broader strategic partnership but is not yet a comprehensive contract. It establishes the basis for further definitive agreements or amendments to existing arrangements between the parties.

CEO Michael Sistenich commented on the milestone, stating:

“Following our recent successful capital raise, we are delighted to formally complete the financial requirements set out in our MOU with GE HealthCare, laying the foundations for our long-term strategic collaboration with a revolutionary leader in healthcare solutions. We are now focused on executing on our promise to GE HealthCare, as we support healthcare providers to achieve an efficient transition to cloud infrastructure.”

Founded in the healthcare AI space, Enlitic develops software that manages and standardises medical imaging data from technologies such as X-rays, CT scans, MRI, and ultrasound. The company licenses its software to healthcare providers, aiming to streamline clinical workflows, improve efficiency, and expand data capacity through real-world evidence platforms.

As of writing on 4 July 2025, ENL shares had surged by over 23.3%, trading at 3.7 cents per share