- Pro Medicus' (PME) U.S. subsidiary, Visage Imaging Inc., has signed two key contracts with leading U.S. health organisation, NYU Langone Health
- The first contract is valued at $25 million and will span seven years
- The company's Visage 7 technology will be implemented across NYU Langone's imaging departments to replace current picture archiving and communication systems
- The second contract involves Visage Imaging and NYU Langone collaborating to design and develop next-generation products for enterprise imaging in various areas
- Additionally, Pro Medicus will establish its own research and development hub in New York City to expand opportunities within the market
- Company shares are up a slight 0.35 per cent and trading for $26.07
Pro Medicus' (PME) U.S. subsidiary, Visage Imaging Inc., has signed two key contracts with NYU Langone Health.
NYU Langone is one of the largest health systems in the state of New York and one of the most well-regarded and innovative healthcare institutions across the U.S. and Canada.
NYU Langone is home to the NYU Grossman School of Medicine which is ranked in the top five medical schools in the U.S.
Visage 7 implementation
The first contract is valued at $25 million and will span seven years. The contract will see the subsidiary's Visage 7 technology be implemented across all of NYU Langone's radiology and sub-specialty imaging departments.
The technology will replace all existing legacy picture archiving and communication systems (PACS) with a single centralised instance of the Visage 7 Enterprise Imaging Platform.
The technology will be implemented across six hospitals and a number of other locations across NYU Langone's healthcare network.
Planning for the rollout is expected to begin in the upcoming December quarter, with the first sites scheduled to go-live in the following quarter.
"NYU Langone completed a thorough selection process that required the final round of vendors to perform extensive on-site pilots. This enabled NYU to assess the differences between systems and, importantly, do so in their production environment, which is the ultimate test of how a product will perform," CEO Dr Sam Hupert said.
The Visage 7 technology delivers quick, multi-dimensional images that are streamed through an intelligent thin-client viewer.
"Winning this deal further validates our belief that we have a unique and highly differentiated offering. We stream the pixel data, unlike others who still compress-and-send the images," Sam added.
NYU Langone Professor and Chair of the Department of Radiology, Dr Michael Recht, is pleased to be adding the Visage 7 technology to its service offering.
"We look forward to our new partnership with Visage as we implement their technology across our network," he said.
Research and collaboration
Under this agreement, Visage Imaging and NYU Langone will work together to design and develop next-generation products for enterprise imaging in various areas. NYU Langone will also become a member of the Visage AI Accelerator program.
In addition to working onsite at NYU Langone, Pro Medicus will establish its own research and development hub in New York City to support research and commercialisation opportunities in the U.S.
The ASX 200 company considers these contracts to be highly significant in increasing its position in a highly-competitive industry.
Company shares are up a slight 0.35 per cent and trading for $26.07 at 12:58 pm AEST.