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Video: Pro Medicus Limited Full-Year FY 2019 Results Webcast

27 August 2019

Pro Medicus Limited (ASX:PME) hosted a webcast conference call on Thursday, 22 August 2019 at 11.30am, where Dr Sam Hupert, Pro Medicus CEO,  discussed PME’s Full-Year FY 2019 Results.

This is the archived webcast of the discussion.

 

 

 

 

PME Investor Presentation FY2019 Results

PME Investor Presentation FY2019 Final  – Acrobat pdf 3,000k

22 August 2019

Pro Medicus Limited Investor Presentation FY2019 Results

 

 

 

 

 

Dr Sam Hupert | CEO on Update

PME CEO on Full Year Results Aug 2019  – Acrobat pdf 414k

22 August 2019

Open Briefing interviewed Pro Medicus CEO, Dr Sam Hupert, discussing the latest Pro Medicus Limited Full-Year Results announcement.

 

 

 

 

Pro Medicus Limited Full-Year Results

22 August 2019; Company Announcement – Full Year Results 2018-19 Final – Acrobat pdf 145k

Highlights

Revenue $50.1m – up 47.9%
After-tax profit $19.1m – up 91.9%
Underlying after-tax-profit $22.7m – up 83.1%
EBIT margins increased to 51.6%
Three significant new contracts
Cash reserves up 28.0% to $32.3m
Fully franked final dividend 4.5c per share – total FY19 dividend up 75%
Company joins S&P/ASX 200 index

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced a full-year after-tax profit of $19.1m for the year ending 30 June 2019, 91.9% higher than for the previous corresponding period.

During the period, revenues rose in all key jurisdictions: by 42.2% in North America, by 102.3% in Europe and by 30.2% in Australia, resulting in revenue for the year increasing by 47.9% to $50.1m.

The figures are based on new AASB 15 accounting standards where professional services revenue and capital license sales are now spread evenly over the period of contracts. Underlying profit after tax (minus currency gains and the new accounting standards) was $22.7m, up 83.1%.

The company’s cash reserves at 30 June 2019 were $32.3m with the company announcing a final dividend of 4.5c per share fully franked. Total dividend for the year increased by 75% to 10.5c per share. The Company remains debt-free.

During the year, Pro Medicus announced three key contract wins:

November 2018 – Signed a $27.0m, seven-year contract with Partners HealthCare for the prestigious Massachusetts General Hospital (MGH) and Brigham and Women’s Hospitals, (BWH) which are ranked the second and thirteenth best hospitals in the USA (U.S. News & World Report).
December 2018 – Announced a $3.0m plus extension to the contract it has with a large German Government [...]

Pro Medicus Signs $14M – 7 Year Contract with Leading U.S. Academic Medical Center

24 April 2019; Company Announcement – Duke Health Final – Acrobat pdf 121k

Highlights

PME signs 7-year deal with Duke Health
Duke ranked in the top 20 best hospitals in the U.S.
Visage 7 to be implemented across all of Duke’s radiology departments
Transaction-based model with potential upside
Adds to PME’s growing footprint in the tier 1 U.S. academic hospital segment

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly-owned U.S. subsidiary, Visage Imaging, Inc., has signed a 7-year contract with Duke Health (“Duke”), the largest health system in the state of North Carolina and one of the most respected health providers in North America.

The contract, based on a transaction licensing model, will see Pro Medicus’ Visage 7 technology implemented across all of Duke’s radiology departments and integrated to Duke’s electronic health record (EHR).

The implementation will span three hospitals and dozens of additional locations across Duke Health, including their flagship 957-bed academic medical center, Duke University Hospital. Planning for the rollout is to commence in Q4 FY19 with the first sites scheduled to be implemented in Q1 FY20.

“This is another significant deal for us,” said Dr Sam Hupert, Pro Medicus CEO. “Duke is a leading U.S. academic institution and adds to the growing number of top-ranked North American health systems standardising on our technology. This not only helps consolidate our strong position in this highly competitive market, it enables us to leverage our development and commercialisation efforts across an increasing base of academic, research oriented clients which we feel provides us with a strategic advantage particularly in rapidly evolving fields such as artificial intelligence and machine learning.”

Dr Sam Hupert | CEO on Update

PME CEO on Interim Results  – Acrobat pdf 588k

21 February 2019

Open Briefing interviewed Pro Medicus CEO, Dr Sam Hupert, discussing the latest Pro Medicus Limited Interim Results announcement.

 

 

 

 

 

Pro Medicus Limited Interim Results

21 February 2019; Company Announcement – Half Year Results 2019 – Acrobat pdf 127k

Highlights

Revenue $25.3m – up 59.4%
Reported after-tax profit $9.1m – up 184.3%
Underlying after-tax profit $9.2m – up 79.9%
EBIT margins increased to 51.8%
Cash reserves $24.7m
Company remains debt-free
Fully franked interim dividend of 3.5c per share
Special fully franked dividend of 2.5c per share
Ten-year anniversary of Visage Imaging acquisition

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced a first-half after-tax profit of $9.1m for the six months to 31 December 2018, 184.3% higher than for the previous corresponding period.

During the period, revenues rose in all key jurisdictions: by 40% in North America, by 30% in Australia, and by 204% in Europe, resulting in revenue for the half increasing by 59.4% to $25.3m.

The interim results figures are based on new AASB 15 accounting standards that deal with customer revenue, which will now be deemed to be spread evenly over the period of contracts. Last year’s figures have also been updated for comparison purposes.

The company’s cash reserves at 31 December 2018 were $24.7m. The company will pay an interim dividend of 3.5c per share and a special dividend of 2.5c. Pro Medicus remains debt-free.

Dr Sam Hupert, Pro Medicus CEO, said “The interim result was particularly pleasing in that we saw solid growth in all three major jurisdictions. There was a significant uptick in transaction revenues in the US as a greater number of transactions flowed from our Yale and Mayo implementations, our implementations in Australia are progressing well and our wholly-owned European subsidiary, Visage Imaging GmbH, signed an A$3+million extension to the contract it has with a large German Government [...]

Pro Medicus Signs Extension to Contract with German Government Hospital

10 December 2018; Company Announcement – Pro Medicus Signs Extension to Contract with German Government Hospital – Acrobat pdf 130k

Highlights

German Government Hospital network to extend use of Visage 7 technology Additional licences for existing site plus 2 satellite hospitals Cross-regional diagnostic image access with other key hospitals across Germany Capital sale with upfront license value to PME in excess of A$3 million Expands Visage footprint in German Hospital market 

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly owned European subsidiary, Visage Imaging GmbH, has signed an A$3 million plus extension to the contract it has with a large German Government Hospital network. 

The deal, which includes additional licenses for the existing site, will also see Visage 7 and Visage Open Archive serve as the central component of a next generation imaging infrastructure at two additional hospitals within the network. 

Visage’s unique client-server architecture and streaming technology with its high-end performance will allow cross-regional diagnostic image access from other government sites in northern and southern Germany to facilitate a new enhanced level of image sharing. The solution is scheduled to go live before the end of 2018 calendar year. 

Dr Malte Westerhoff, General Manager of Visage Imaging GmbH and Visage Chief Technology Officer said, “Existing customers expanding their use of our offering is the best validation of the strength of our technology and the quality of our customer service. This contract extension follows on from the success we have had at the first site we implemented for this government department.” 

The project, based on a capital purchase model, will see Visage provide software and services with revenue in excess of A$3 million, excluding ongoing service contracts. 

“The German hospital market is difficult to penetrate so we see this as a solid step [...]

Pro Medicus Signs $27M – 7 year Contract with US-based Partners HealthCare

20 November 2018; Company Announcement – Pro Medicus Signs Partners HealthCare – Acrobat pdf 119k

Highlights

PME signs 7 year deal with Partners HealthCare in the USAInitial rollout to include Massachusetts General Hospital and Brigham and Women’s Hospital, ranked fourth and twentieth best hospitals in the USA Estimated value to PME for the initial rollout in excess of AUD $27M Scope to expand to the rest of Partners HealthCare in the future Transaction-based model with significant potential upside Two of the top four hospitals in the USA are now Visage clients 

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly-owned US subsidiary, Visage Imaging, Inc., has signed an AUD $27 million, 7-year contract with Partners HealthCare (“Partners”), the largest health system in the state of Massachusetts and one of the largest and most respected health providers in North America. 

Partners was founded in 1994 by Massachusetts General Hospital (“MGH”) and Brigham and Women’s Hospital (“BWH”). Partners is a national leader in biomedical and data science research, including the MGH & BWH Center for Clinical Data Science. 

The contract, based on a transaction licensing model, will see Pro Medicus’ Visage 7 technology implemented at Partners’ two flagship hospitals, MGH and BWH, eliminating their legacy PACS with scope to expand to other Partners network hospitals at a later date. 

Dr Sam Hupert, Pro Medicus CEO, described the deal as a ‘milestone’ for Pro Medicus. “Not only is it our biggest deal to date, there is the potential for further upside within the Partners network after this initial rollout is completed. In addition, MGH and BWH are two of the most prestigious medical institutions in North America renowned for their medical research, as well as their key roles as teaching hospitals for Harvard Medical School. The [...]

Dr Sam Hupert | CEO on Update Open Briefing

PME CEO on FY2018 Results – Acrobat pdf 483k

16 August 2018

Open Briefing interviewed Pro Medicus CEO, Dr Sam Hupert, discussing the latest Pro Medicus Limited’s Full-Year Results announcement.