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- Mach7 Technologies (M7T) has booked $4.2 million in purchase orders from the Hospital Authority of Hong Kong (HAHK) over the 2021 financial year so far
- The orders come from a major contract signed with HAHK in October 2018
- Under the contract, Mach7 will equip hospitals and clinics across all of Hong Kong with the Mach7 enterprise imaging solution
- The tech gives clinicians seamless access to high-quality medical images from any other connected location, viewable on any device
- Clinicians can see the same images as radiologists through the eUnity interface, which can be installed on computers, tablets, and mobile phones
- With the $4.2 million in purchase orders over the current financial year, Mach7 has booked a total of $10 million under the contract altogether
- The company said it expects to have delivered the entire solution under the contract by the end of June 2021
- Shares in Mach7 Technologies closed 3.09 per cent higher today at $1.50 each
Mach7 Technologies (M7T) has booked $4.2 million in purchase orders from the Hospital Authority of Hong Kong (HAHK) over the 2021 financial year so far.
The company gave the sales update to investors this morning as it works to deliver on a major contract signed with HAHK in October 2018. Under the contract, Mach7 will equip hospitals and clinics across all of Hong Kong with the Mach7 enterprise imaging solution.
This includes the company’s Vendor Neutral Archive (VNA) and eUnity enterprise viewer technology.
Once delivered to HAHK, Mach7’s tech will be installed in 43 public hospitals and institutions, 48 specialist outpatient clinics, and 73 general outpatient clinics across Hong Kong. Essentially, Mach7 will enable enterprise imaging across the entire territory.
The company has received $4.2 million in purchase orders from HAHK so far this financial year, of which almost $3 million came from a major licence volume order for the VNA system.
This means all up, Mach7 has received $10 million in purchase orders from the original contract, under which HAHK signed up for $15 million worth of tech. This means Mach7 has at least $5 million more to deliver under the HAHK contract in the future.
Importantly, Mach7 expects to have delivered the entire solution under the contract by the end of June 2021.
However, the company said the ongoing success of the first contract has opened up some important opportunities for expansion with HAHK, with an additional $1.8 million worth of purchase orders received from the Hong Kong authority on top of what has been ordered through the original contract.
Mach7 CEO Mike Lampron said the company is proud to be working with HAHK to help the organisation better serve the people of Hong Kong
“Throughout this project, the Hospital Authority’s commitment to delivering the best possible care to its patients has been central to our approach in implementation and system design,” Mike said.
“We’re confident that once Mach7’s Enterprise Imaging Solution is fully implemented, they will be able to deliver the quality of care their patients expect,” he added.
VNA and eUnity
The combination of Mach7’s VNA tech and the eUnity platform allows hospitals and clinics in Hong Kong to receive, transfer, store and view medical images across public and private healthcare providers.
Through the tech, clinicians have seamless access to high-quality medical images from any other connected location, viewable on any device. Clinicians can see the same images as radiologists through the eUnity interface, which can be installed on computers, tablets and mobile phones.
The tech also optimises storage, workflow, and patient management across a hospital’s IT ecosystem, making the imaging process easier and more efficient for patients and doctors.
Shares in Mach7 Technologies closed 3.09 per cent higher today at $1.50 per share. The company has a $352 million market cap.
