![Adheris Health logo](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>)
October 2026
Largest Healthcare Software Public Companies in Australia
Benchmark revenue and EBITDA valuation multiples for public comps like
Pro Medicus, Artrya, Echo IQ, Alcidion Group and PharmX Technologies.
 | Pro Medicus is a healthcare IT company specializing in radiology imaging software. Its main product, Visage 7, is a clinical desktop application that radiologists use to view, enhance, and manipulate images from any device and make a diagnosis. Its main customers are US private academic hospitals. In fiscal 2025, Pro Medicus earned 90% of revenue in North America, 8% from Australia, and the remaining 2% in Europe. | $111 | -35% | $12B | $11B | 62.9x | 79.7x | ||
| Artrya Ltd is engaged in the development and commercialisation of its patented artificial intelligence platform that detects, diagnoses, and helps address coronary artery disease. The Salix technology platform is the core of the Company, leveraging proprietary artificial intelligence to deliver a rapid, automated assessment of a patient's coronary CT angiogram (CCTA). The Company operates in a single segment, being the development of AI-driven CCTA image analysis technology. | $2 | +3% | $378M | $326M | 16728.1x | (17.8x) | ||
| Echo IQ Ltd is an Australian medical technology company focused on improving decision-making in cardiology. Its proprietary EchoSolv platform leverages AI-driven analysis of echocardiographic data to help clinicians detect Aortic Stenosis (AS) and other conditions with greater accuracy and efficiency. The company is focused on expanding its strategic partnerships, progressing regulatory pathways, and completing successful deployments of its technology in the USA healthcare market to establish its position in AI-enabled cardiovascular care. | $0 | +180% | $292M | $286M | 4455.2x | (22.1x) | ||
| Alcidion Group Ltd is a provider of intelligent informatics software. It offers a fully integrated digital patient care platform that includes a clinical decision support (CDS) system, Electronic Patient Record (EPR), and Patient Administration System (PAS). Alcidion is engaged in the development and licensing of its own healthcare software products (Miya Precision and its associated modules, including Miya Observations, Flow, Task Management and PAS), the reselling of healthcare software products from its strategic partners, and the delivery of product implementation, product support and maintenance, systems integration and data analysis services to healthcare customers in the United Kingdom, Australia, and New Zealand. The company generates maximum revenue from the United Kingdom. | $0 | +20% | $99M | $85M | 2.9x | 19.6x | ||
| PharmX Technologies Ltd is an Australia-based software and technology company. The company has a single segment which is Health Services. In Health services, the company develops and distributes business software for the pharmacy industry with particular emphasis on point-of-sale and pharmaceutical dispensing software, support services, and associated computer hardware. It derives a majority of its revenue from the Health services business. | $0 | -30% | $45M | $45M | 8.4x | (313.4x) | ||
| Singular Health Group Ltd provides medical software solutions. The company's business segment is the provision of Volume Rendering Platform (VRP) software, providing 3D printing services and 3D machine sales. It operates in one segment, which is the provision and development of medical technology within Australia. | $0 | -33% | $41M | $34M | 34.1x | (7.3x) | ||
| Resonance Health Ltd is engaged in the development and commercialisation of software-as-medical-device (SaMD) technologies and services for the quantitative analysis of radiological images in a regulated and quality-controlled environment. The Group’s core SaMD product is FerriScan, a non-invasive liver analysis technology used for the assessment of iron in the liver. The Company also has several AI-assisted SaMDs including FerriSmart, HepaFatSmart, and LiverSmart. Its business segments are; SaMD1 which derives key revenue, Corporate, TrialsWest, and Resonance Clinica. Geographically, it generates maximum revenue from the Asia Pacific region and the rest from North America, and Europe, Middle East and Africa (EMEA) regions. | $0 | +80% | $28M | $27M | 2.4x | 16.2x | ||
| CurveBeam AI Ltd is a manufacturer of specialized imaging equipment that has developed software that, through the use of artificial intelligence (AI), and deep learning AI (DLAI), automates the scan processing and analysis of the high-quality images produced from the company’s CT devices to assist in the clinical assessment. The company has one operating segment, being the research, design, manufacture and sale of cone beam CT imaging equipment for orthopaedic specialties, which includes the development, validation and preparation for commercialisation of a HRpQCT Medical Device and Software as a Service (SaaS) platform. | $0 | -43% | $13M | $24M | 2.9x | (2.6x) | ||
| ImExHS Ltd is engaged in the development and sale of its Hiruko software platform. The software consists of Radiology, Cardiology, Pathology information systems, and Picture Archiving and Communications Systems. The segments of the company are Software and Radiology Services. The company derives maximum revenue from Radiology segment. | $0 | +18% | $11M | $10M | 0.5x | (31.4x) | ||
| Adheris Health Ltd is an E-healthcare software development company that provides pharmacy-driven patient engagement solutions that include personalised patient experiences to help simplify the patient medication journey. The group is leveraging THRIV, a cloud-based, AI-enabled platform. Its solutions empower the pharmacy of the future through improved pharmacy workflow and patient engagement solutions. | $0 | -43% | $7M | $120K | 0.0x | (0.0x) | ||
| Median | $0 | -13% | $43M | $39M | 5.7x | (4.9x) |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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