Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Health imaging company Pro Medicus (PME) has secured a seven-year contract with a health system comprised of five U.S. universities
  • Signed through its U.S. subsidiary Visage Imaging, the $31 million deal includes UC Los Angeles, UC San Francisco, UC San Diego, UC Davis and UC Irvine
  • Based on a transactional licensing model, the company’s Visage 7 Viewer will be implemented across the five diagnostic imaging departments
  • The rollout is expected to begin immediately with initial usage targeted for the second half of this year
  • Pro Medicus is down 2.81 per cent to $45.70 per share

Health imaging company Pro Medicus (PME) has secured a seven-year contract with a health system comprised of five U.S. universities.

Signed through its wholly owned U.S. subsidiary Visage Imaging, the $31 million deal includes partnerships with UC Los Angeles, UC San Francisco, UC San Diego, UC Davis and UC Irvine.

Using a transactional licensing model, the company’s Visage 7 Viewer will be implemented across the five diagnostic imaging departments, representing the first time the entire five-campus system will be unified on one diagnostic platform.

The rollout is expected to begin immediately, with initial usage targeted for the second half of this year. Full deployment across all campuses is expected to take between 18 and 24 months.

“This was a highly sought after, extremely competitive tender and as you would expect for such a large and highly sophisticated client, they underwent a very extensive evaluation process that included onsite pilots involving all five main campuses,” said Dr Sam Hupert, CEO of Pro Medicus.

“The fact that we won unanimous endorsement speaks to the strength of our offering,” he added.

Notably, the company has now won all six major contracts in its market over the last seven months. With five based in North America and on in Europe, they cover a broad range of opportunities in both academic and non0academic spaces.

“This confirms our view that our solution, more so than any other, is ideally suited to a large percentage of the total addressable market,” Dr Hupert concluded.

Pro Medicus is down 2.81 per cent to $45.70 per share at 2:12pm AEDT.

PME by the numbers
More From The Market Herald

" Appen (ASX:APX) positioned to weather pandemic, reaffirms guidance

Data annotation and artificial intelligence company Appen (ASX:APX) has today reaffirmed its guidance for the 2020…

" Appen (ASX:APX) beats earnings guidance, outperforms a weak market

Data annotation and artificial intelligence specialist Appen (APX) has soared today after beating its earnings guidance…
Appen (ASX:APX) - CEO, Mark Brayan

" Appen’s (ASX:APX) shares rise on business restructure

Machine intelligence company Appen (ASX:APX) has made some changes to the structure of its business.
The Market Herald Video

" Appen (ASX:APX) receives $1.17b takeover bid from Canadian tech giant

Appen (ASX:APX) has received an unsolicited $1.17 billion takeover bid from Canadian telco giant Telus International.