Pro Medicus Limited – Surging High on a New Deal

Leading health imaging company, Pro Medicus Limited (ASX: PME) announced its wholly owned U.S. subsidiary, Visage Imaging, Inc. has signed an AUD $15 million, 7 year contract with the U.S. based Mercy health system for Visage 7 Open Archive.

The contract, based on a transaction licensing model, will see Pro Medicus’ Visage 7 Open Archive implemented across the Mercy healthcare enterprise, which is the fifth largest Catholic health system in the U.S., spanning 4 states.

“This is an industry defining deal for us,” said Dr Sam Hupert, Pro Medicus CEO. “We introduced our archive to the North American market because we saw the need for a scalable, interoperable, high performance archive which we felt was not being adequately addressed by others. This deal validates our strategy. Our customers now have the flexibility to extend the use of Visage 7 in a totally modular fashion across their enterprise.”

The project will involve the migration of more than 25 million diagnostic imaging exams from the current Mercy archive to Visage 7 Open Archive making it one of the largest medical imaging archives in North America. The project is scheduled to commence in late June 2018 and is to be completed in the third quarter of FY2019. The stock is currently trading at a market price of $7.79 (up 10.03% on June 28, 2018).


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