29 August 2022; Company Announcement – 3 Contracts – UF Renewal – Acrobat pdf 110k
Highlights
- Signs three new customer contracts with a combined minimum value of A$16.5M
- Renews a 7-year, A$15.5M contract with University of Florida
- Renewal negotiated at an increased fee per transaction
- New and renewal contracts are transaction-based with potential upside
Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly owned U.S. subsidiary, Visage Imaging, Inc., has signed three new contracts with a combined minimum value of A$16.5M. The contracts are with Montage Health, a regional health system in Monterey California, Children’s Hospital of Philadelphia (CHOP), one of North America’s leading academic children’s hospitals and Bay Imaging Consultants, a private radiology group in San Francisco.
All three implementations will be fully Cloud deployed and are expected to be completed within the next 6 months.
The company also announced that the University of Florida (Gainesville and Jacksonville) has re-contracted for a further seven years. The deal, with a minimum contract value of A$15.5M, has been negotiated at a higher per transaction cost than the original pay per view contract.
Referring to the new clients, Dr Hupert said, “These are three very different organizations which highlights the fact that our offering is ideally suited to a broad range of diagnostic imaging market segments. From a product perspective, our total addressable market (TAM) ranges from a private imaging practice in Melbourne to some of North America’s and the world’s top academic centers and anything in between.”
Dr Hupert added, “With the University of Florida renewal, we have been successful in continuing our aim of 100% client retention. The fact that they have re-signed for seven years, we see as a strong endorsement of our technology.”
