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  • 18 May 2026

Artray (ASX:AYA): Positive customer feedback with scan volumes growing 200%/mth; SAPPHIRE study to kick off in July; Appoints former Pro Medicus CFO as new CFO


HeartFlow, Inc. (HTFL:NAS), 0 | Artrya Limited (AYA:ASX), 0

  • Venn Brown
    • Andrew Wilkinson

    • 13 pages


 

Tanner has nice things to say Three visiting senior Tanner Health executives joined Artrya's 3Q26 investor call from Melbourne, giving investors a rare firsthand account of the Salix platform from a paying customer. The feedback was overwhelmingly positive. CT technician processing time has fallen from 40 to 20 minutes; cardiologists report 50–80% faster read times per case. Salix scan volumes are growing by 200% month over month. Tanner is fielding requests from other hospital groups interested in Salix. With interest growing organically, driven by cardiologists themselves. SAPPHIRE: On track for early 2H26 start Ethics submissions are underway across all sites, initial pilots have commenced, and scan collection is expected to begin at the start of FY27. Management remains confident of signing at least one SAPPHIRE partner to a commercial agreement this calendar year. This would be upside that neither Venn Brown nor the market is currently forecasting. We have not changed our forecasts. SCF submission: quality over speed Artrya is still finalising its Salix Coronary Flow (SCF) FDA submission, having missed its most recent guidance of end-June clearance. The delay is due to it taking longer to secure enough high-quality CCTA and FFR images for AYA to complete a benchmarking study against Salix. Management would not be drawn on a revised timeline, but was clear that submitting a robust, high-quality application remains the priority over speed. Former Pro Medicus CFO joins Artrya Artrya has appointed Clayton Hatch as CFO, effective 1 September 2026. Hatch has been CFO of Pro Medicus since June 2012 – a tenure during which PME's revenue grew from $15 million to $213 million and its market cap from ~$35 million to $13 billion. The parallels with Artrya's current stage are clear, and Hatch's decision to join speaks to his view of the company's trajectory. Growing investor interest as Artrya set to join ASX 300 in September Along with Venn Brown and Petra Capital, Bell Potter and Barrenjoey have also picked up research coverage of Artrya. We understand that several other brokers are also considering initiating coverage. Adjusting for S&P’s float requirements, AYA needs to have an average price of $3.94 per share (market cap of $630 million) for the three-month evaluation period to September to be included in the ASX300 at the next rebalance in September

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Artray (ASX:AYA): Positive customer feedback with scan volumes growing 200%/mth; SAPPHIRE study to kick off in July; Appoints former Pro Medicus CFO as new CFO


HeartFlow, Inc. (HTFL:NAS), 0 | Artrya Limited (AYA:ASX), 0

  • Published: 18 May 2026
  • Author: Andrew Wilkinson
  • Pages: 13
  • Venn Brown


Tanner has nice things to say Three visiting senior Tanner Health executives joined Artrya's 3Q26 investor call from Melbourne, giving investors a rare firsthand account of the Salix platform from a paying customer. The feedback was overwhelmingly positive. CT technician processing time has fallen from 40 to 20 minutes; cardiologists report 50–80% faster read times per case. Salix scan volumes are growing by 200% month over month. Tanner is fielding requests from other hospital groups interested in Salix. With interest growing organically, driven by cardiologists themselves. SAPPHIRE: On track for early 2H26 start Ethics submissions are underway across all sites, initial pilots have commenced, and scan collection is expected to begin at the start of FY27. Management remains confident of signing at least one SAPPHIRE partner to a commercial agreement this calendar year. This would be upside that neither Venn Brown nor the market is currently forecasting. We have not changed our forecasts. SCF submission: quality over speed Artrya is still finalising its Salix Coronary Flow (SCF) FDA submission, having missed its most recent guidance of end-June clearance. The delay is due to it taking longer to secure enough high-quality CCTA and FFR images for AYA to complete a benchmarking study against Salix. Management would not be drawn on a revised timeline, but was clear that submitting a robust, high-quality application remains the priority over speed. Former Pro Medicus CFO joins Artrya Artrya has appointed Clayton Hatch as CFO, effective 1 September 2026. Hatch has been CFO of Pro Medicus since June 2012 – a tenure during which PME's revenue grew from $15 million to $213 million and its market cap from ~$35 million to $13 billion. The parallels with Artrya's current stage are clear, and Hatch's decision to join speaks to his view of the company's trajectory. Growing investor interest as Artrya set to join ASX 300 in September Along with Venn Brown and Petra Capital, Bell Potter and Barrenjoey have also picked up research coverage of Artrya. We understand that several other brokers are also considering initiating coverage. Adjusting for S&P’s float requirements, AYA needs to have an average price of $3.94 per share (market cap of $630 million) for the three-month evaluation period to September to be included in the ASX300 at the next rebalance in September

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