Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Pro Medicus’ U.S. subsidiary has signed a five-year contract valued at $9 million, with The Ohio State University Wexler Medical Centre
  • The contract is expected to begin rolling out in the second quarter of the 2020 financial year and be completed in mid-2020
  • This adds on to Pro Medicus’ existing partnerships with Duke Health and Partners Healthcare
  • The company’s share price is currently up 1.58 per cent with shares trading for just over $25 each

Pro Medicus’ share price is slightly up this morning after announcing its U.S. subsidiary has signed a five-year contract with OSUWMC.

OSUWMC (The Ohio State University Wexler Medical Center) is a large multi-disciplinary academic medical centre located in Columbus, Ohio.

The centre employs approximately 30,000 staff, 1700 physicians and supports over 1500 inpatients. It is also the teaching hospital for The Ohio State University College of Medicine.

This new contract will see Pro Medicus’ Visage 7 technology be implemented across all of OSUWMC’s radiology department spanning seven hospitals and clinics.

The contract is estimated the be worth A$9 million with roll-out to begin in the second quarter of the 2020 financial year, and be completed in mid-2020.

Visage 7 delivers a multi-display, multi-dimensional and referring physician platform to access diagnostic imaging modalities.

It allows radiologists and physicians to interpret CT scans, brain scans, images, and vessel analysis.

This technology will offer a faster and more streamlined analysis for healthcare professionals.

Demand for the technology has increased tenfold with Pro Medicus signing a seven-year contract with Duke Health in April and announcing a seven-year partnership with Partners Healthcare in the U.S.

“This time last year, Partners, Duke and OSUWMC were in our pipeline in amongst other opportunities that are still ongoing,” CEO Sam Hupert said.

“So, in less than 12 months we’ve been able to covert the following from pipeline to contract – Partners, our biggest deal to date, Duke, a key academic University hospital, and now OSUWMC, so we are very pleased with the strike rate,” he added.

Pro Medicus will now start preparing for the RSNA conference in the U.S. which will give the company the opportunity to showcase its work.

Sam states that it will be the busiest one yet for Pro Medicus.

“This year we will have the biggest presence we’ve ever had, both in term of the size of the stand, number of staff, and also the number of pre-booked appointments. So, all in all, this RSNA is shaping up to be our busiest ever,” he said.

Pro Medicus’ share price is up 1.58 per cent today with shares trading for $25.05 apiece at 1:53 pm AEDT.

PME by the numbers
More From The Market Herald

" Aristocrat Leisure (ASX:ALL) to buy Playtech for $5b

Aristocrat Leisure (ALL) is looking to purchase online gambling software and content supplier, Playtech, for $5 billion.

" Harvey Norman Chairman fires back at concerned shareholder during AGM

Harvey Norman’s Annual General Meeting yesterday caused quite a stir as Chairman Gerry Harvey reportedly lashed out at shareholders.

" Forrest rejects “Wait Awhile” state as home for hydrogen project

Fortescue Metals Group (FMG) Chairman Andrew Forrest said Western Australian was the first choice for the Fortescue Futures Initiative (FFI) hydrogen project, but

" Qantas (ASX:QAN) brings forward international flights to Nov 1

Qantas (QAN) will begin international flights two weeks earlier than planned, on November 1, 2021, after the Federal and New South Wales governments