- IMEXHS (ASX:IME) has signed a $3.5 million contract with radiology services provider AI-RAD
- The company will provide additional equipment and software including its Hiruko solutions system for a seven-year term
- Hiruko is a branded suite of solutions which is meant to increase productivity and enhance patient outcomes
- Company shares are up 5.26 per cent and are trading for 4 cents each
IMEXHS has signed a deal with radiology provider and existing client, AI-RAD to provide additional equipment and software for its Colombia operations.
The Platform-as-a-Service (PaaS) contract is for a seven year term and is valued at $3.5 million (US$2.4 million), which is payable on a monthly basis.
Under the contract, IMEXHS will supply its Hiruko solutions system to AI-RAD. Hiruko is a branded suite of solutions for next generation Picture Archiving and Communications System (PACS) and integrated Radiology Imaging System (RIS).
IMEXHS’ products are designed to increase productivity and save money for users, with a scalable platform that is optimised for the future, while enhancing patient outcomes.
“This further contract with AI-RAD is significant for IMEXHS as it validates the benefits of the HIRUKO solution and reinforces the strong working relationship we have built over the past 12 months,” IMEXHS CEO Dr German Arango said.
“We look forward to continuing to work with AI-RAD, as they realise the high productivity that can be achieved through using HIRUKO and the enabling role it plays in the growth of their business,” he added.
The contract requires a total capital expenditure of $1.074 million, with the majority of the equipment being financed by an external equipment vendor at 12 per cent per annum.
At the end of the seven-year contract period, the ownership rights of the equipment will transfer to AI-RAD.
The new contract is expected to bring IMEXHS’ annualised recurring revenue to approximately A$8.6 million.
IMEXHS shares are up 5.26 per cent and are trading for 4 cents each at 3:41 pm AEDT.