PME signs A$33M, 9-year contract with University of Kentucky

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Stock Pro Medicus Ltd (PME.ASX)
Release Time 16 Jan 2025, 9:37 a.m.
Price Sensitive Yes
 Pro Medicus signs $33M, 9-year contract with University of Kentucky
Key Points
  • PME signs AUD $33M, 9-year deal with the University of Kentucky
  • Visage 7 platform to be implemented in the cloud
  • Continues PME's expansion into North American academic institutions
Full Summary

Pro Medicus Limited has announced that its wholly-owned U.S. subsidiary, Visage Imaging, Inc., has signed a $33M, 9-year contract with the University of Kentucky (UK), the preeminent academic health system in the state of Kentucky. The contract will see the company's cloud-based Visage 7 Enterprise Imaging Platform, including Visage 7 Open Archive and Visage 7 Workflow modules, implemented throughout UK, providing a unified diagnostic imaging platform. Visage will complete the migration from UK's legacy PACS archive and vendor neutral archive to Visage 7 Open Archive, and Visage 7 will also provide enterprise distribution of images integrated to UK's electronic health record (EHR). Planning for the rollout is to commence immediately and will be based on Visage's proven cloud-based implementation process, with go-live targeted for Q2 of the 2025 calendar year. This contract continues Pro Medicus' expansion into North American academic institutions, and the company's CEO, Dr. Sam Hupert, noted that the deal is for the 'full stack' comprising all three Visage products, a trend the company sees continuing.

Guidance

The $33M, 9-year contract with the University of Kentucky is expected to contribute to Pro Medicus' financial performance over the duration of the agreement.

Outlook

The company's CEO noted that the pipeline remains strong and spans all market segments, with the trend of clients opting for the 'full stack' of Visage products continuing.