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Pro Medicus Signs $3 Million Deal with German Hospital

Pro Medicus Signs $3 Million Deal with German Hospital
Nov 16, 2015 By Matthew Dibb

Pro Medicus Limited (ASX: PME) announced today that its European subsidiary Visage Imaging GmbH has signed A$3 million five year contract with one of the largest Government run hospitals in Germany.

Visage is a global provider of medical imaging and advanced visualisation solutions for diagnostic purposes and caters to enterprises and hospitals. Pro Medicus is a provider of Radiology Information systems (RIS), Picture Archiving and Communications Systems (PACS) and other advanced visualisation solutions.

As part of the new deal with the hospital, the company will implement one of its imaging platforms called Visage 7 through a central component of the PACS strategy and integrate it with the hospital’s existing systems. Visage 7 ‘satellite servers’ will also be implemented at three other government sites in northern and southern Germany to facilitate a new enhanced level of image sharing with these sites for cross diagnostic imaging access.

According to one of the company’s chief radiologists, the company is looking for its Visage products to provide a step-change in its historical capabilities. Visage’s speed and regional architecture will enable the physicians to have rapid access to images, from any of their hospitals or wherever they require to care for their soldiers and civilian patients.

Pro Medicus CEO, Dr Sam Hupert said:” This has been a very strategic sale for us. Not only has it significantly bolstered our footprint in the German Enterprise hospital space, traditionally a difficult market to penetrate, it has also shown that the modular or deconstructed approach to medical imaging is now starting to gain momentum in Europe. We believe this is positive for us.”

The company also signed a A$11 million deal with Alleghany Health Network in USA whereby it will provide Visage 7 technology services for primary diagnoses and clinical distribution of medical images.

The Pro Medicus stock is trading at $3.31 as of 2:11 PM (AEDT) and has gained approximately 250% for the year.

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Matthew Dibb Author: Matthew Dibb Nov 16, 2015

Matthew has an extensive track record in equity markets and derivative advisory. Spanning a career in several investment banks and prviate wealth groups including Macquarie Bank, his specialist knowledge relates to capital market advisory and equity market analytics. Matthew has a diploma in Financial Advisory, Applied Finance and is ADA 1 & 2 accredited.

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