News

PME Signs A$10M – 7 Year Contract with Munich based Ludwig-Maximilians-Universität (LMU Klinikum)

15 October 2020; Company Announcement – LMU Klinikum Munich – Acrobat pdf 118k

Highlights

PME signs 7-year, A$10M deal with LMU Klinikum
LMU Klinikum is one of the largest university hospitals in Germany
Visage technology to be deployed throughout LMU Klinikum’s imaging departments replacing systems from legacy vendors
Extends PME’s footprint in the European hospital segment

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly- owned German subsidiary, Visage Imaging GmbH, has signed a 7-year A$10million contract with Munich based Ludwig-Maximilians-Universität (LMU Klinikum) one of the largest university hospitals in Europe.

The contract will see the company’s Visage 7 technology implemented across all LMU Klinikum’s radiology and subspecialty imaging departments replacing existing legacy PACS systems with a single centralized instance of the Visage 7 Enterprise Imaging Platform. Visage is also used in the hospital’s state of the art operating theatre suite for HD video documentation and point-of-care Ultrasound archival and viewing.

LMU Faculty of Medicine is the largest medical training institution in southern Germany and regarded as one of the top academic hospitals in Europe.

The implementation is scheduled to commence in December 2020.

“We look forward to taking our partnership with Visage to the next level as we implement their technology across our radiology department,” said Dr Kurt Kruber, CIO of LMU Klinikum. “The Visage platform provides a highly scalable and reliable platform combined with sophisticated clinical features that will support us in both day-to-day patient care and advanced research.”

“We are very excited about this project,” said Dr Malte Westerhoff, Managing Director of Visage Imaging GmbH. “LMU Klinikum is a thought leader in making a digital strategy a core principle of their operations. We are confident that our technology and expertise can make [...]

Dr Sam Hupert | Interview

CEO Interview NYU Sept 2020 – Acrobat pdf 195k

11 September 2020

Interview with Pro Medicus CEO, Dr Sam Hupert, where he discussed:

$25m NYU Langone contract
Multi-year Research Collaboration Agreement
PME to establish R&D hub in New York City
Update on pipeline

PME Signs Research Collaboration Agreement with NYU Langone Health

11 September 2020; Company Announcement NYU Research Collaboration Sept 2020 – Acrobat pdf 114k

Highlights

PME signs multi-year Research Collaboration agreement with NYU Langone Health
PME and NYU Langone Health to jointly develop next-generation enterprise imaging solutions
PME to establish Research/R&D Hub in New York City
New Hub to form the foundation for Visage research activities in the U.S.
Significant investment in future PME products

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly- owned U.S. subsidiary, Visage Imaging, Inc., has signed a multi-year Research Collaboration agreement with NYU Langone Health (NYU Langone), one of the most highly regarded health systems in North America.

Under the terms of the agreement, the two parties will work together to design and develop next-generation products for enterprise imaging in areas such as workflow optimization, integration with multi-vendor reporting platforms, as well as integration of artificial intelligence (AI) technology. NYU Langone will also become a member of the Visage AI Accelerator program.

“This is a major milestone for our company,” said Dr Sam Hupert, Pro Medicus CEO. “We changed the paradigm of what a diagnostic imaging (PACS) product should be by natively integrating 3D and advanced visualisation into a single platform. We believe this, combined with our proprietary streaming platform, has given us an 18 to 24 month technology lead. We are now looking at what is next, what a system would look like in say 3 to 5 years, and are starting to do the research and development to make that a reality and then be the first to commercialise it.”

In addition to working on-premise at NYU Langone, PME will establish its own R&D Hub in New York City to spearhead PME’s research and [...]

PME Signs A$25M – 7 Year Contract with NYU Langone Health

11 September 2020; Company Announcement NYU Sept 2020 – Acrobat pdf 118k

Highlights

PME signs 7-year, A$25M deal with NYU Langone Health
NYU Langone ranked in the 10 best hospitals by U.S. News & World Report 2020- 2021
Tier 1 academic institution which includes the renowned NYU Grossman School of Medicine
Visage technology to be deployed throughout NYU’s imaging departments replacing systems from legacy vendors
Extends PME’s footprint in the tier 1 U.S. academic hospital segment
Transaction-based model 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 a 7-year contract with NYU Langone Health (NYU Langone), one of the largest health systems in the state of New York and one of the most respected and innovative healthcare institutions in North America.

The contract, based on a transaction-based licensing model, will see the company’s Visage 7 technology implemented across all of NYU Langone’s radiology and subspecialty imaging departments, including breast imaging, replacing all existing legacy PACS with a single centralized instance of the Visage 7 Enterprise Imaging Platform.

The implementation will span 6 hospitals and numerous additional locations across the NYU Langone healthcare network. Planning for the rollout is to commence in Q2 FY21, with the first sites scheduled to go-live in Q3 FY21.

“NYU Langone completed a thorough selection process that required the final round of vendors to perform extensive on-site pilots. This enabled NYU to assess the differences between systems and, importantly, do so in their production environment, which is the ultimate test of how a product will perform,” said Dr Sam Hupert, Pro Medicus CEO. “Winning this deal further validates our belief that we have a unique and highly [...]

Video: Pro Medicus Limited Full-Year FY 2020 Results Webcast

24 August 2020

Pro Medicus Limited (ASX:PME) hosted a webcast conference call on Thursday, 20 August 2020 at 11.00am (AEST), where Dr Sam Hupert, Pro Medicus CEO,  discussed PME’s Full-Year FY 2020 Results.

This is the archived webcast of the discussion.

 

 

 

 

 

 

 

Dr Sam Hupert | Interview

CEO Interview FY2020 – Acrobat pdf 194k

20 August 2020

Interview with Pro Medicus CEO, Dr Sam Hupert, where he discussed:

Financial results for the year ended 30 June 2020
COVID-19 effects on the business
Strong cash flows and dividend payout
Doing business in the COVID-19 environment
Current pipeline and prospects

 

 

Pro Medicus Limited Full-Year Results

20 August 2020; Company Announcement – Pro Medicus Limited Full Year Results – Acrobat pdf 118k

Highlights

Strong growth continues despite restrictions of COVID-19
Revenue from underlying operations $56.8m – up 23.9%
Underlying profit before tax $30.2m – up 33.4%
Net profit after tax $23.1m – up 20.7%
Margins increase to 52.5%
Cash reserves $43.4m – up 34.3%
Strong balance sheet – No debt
Fully franked final dividend 6c per share. Total FY20 dividend up 14.3%.
Three key contracts announced during the period

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced a full- year net profit of $23.1m for the 12 months to the end of June 2020, 20.7% higher than for the previous corresponding period. Underlying profit before tax, which excludes a $3.0m one-off capital sale to the German government in the previous period, was $30.24m, an increase of 33.4%.

Revenue from underlying operations, increased by 23.9% to $56.8m. There was solid growth in key jurisdictions – North America (up 23.7%) and Australia (up 19.2%) – while revenue from European operations fell 37.7%, largely as a result of the one-off sale to the German government in the previous period.

The company’s cash reserves at 30 June 2020 were $43.4m, a rise of 34.3%. Pro Medicus announced a final fully franked dividend of 6c per share, taking total dividends for the year to 12c per share. The company remains debt-free.

During the year Pro Medicus announced three key contract wins:

Ohio State University, November 2019 – a $9m five-year contract with the Ohio State University Wexner Medical Center, a large multi-disciplinary academic medical centre in Columbus, Ohio.
Nines Inc, December 2019 – a $6m five-year deal with Palo [...]

Pro Medicus Full-Year FY 2020 Results Webcast Announcement

Leading health imaging company Pro Medicus (ASX: PME) announced its full-year results will be released on Thursday, 20 August 2020.

Pro Medicus will also host a webcast conference call on Thursday, 20 August 2020 at 11.00 am (AEST) – please refer to the link below.

Webcast Public Link: https://services.choruscall.com.au/webcast/promedicus-200820.html

Pro Medicus Appoints Deena Shiff as Director

27 July 2020; Company Announcement Pro Medicus Appoints Deena Shiff as Director – Acrobat pdf 95k

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced the appointment of Ms. Deena Shiff as a Non- Executive Director, effective 1 August 2020.

As indicated at last year’s AGM, the company’s business continues to grow, and the Board believes it appropriate to appoint an additional Non-Executive Director with skills and experience that complement those of the current directors.

The Board, with the assistance of an Executive Search firm, conducted an extensive search to identify suitable candidates. Today’s announcement is the culmination of that process.

Ms. Shiff has had a senior legal career followed by a senior executive career in Australian telecommunications. Her subsequent board career as a Chairman/Non-Executive Director, has included a number of boards of global infrastructure and ICT companies.

Deena was the first woman Group Managing Director at Telstra running Telstra Wholesale and establishing and running Telstra Business, a division focused on the SME market. In 2011 Deena established Telstra’s corporate venture capital arm, Telstra Ventures before leaving in 2013 to focus on a full time Board career.

Deena is currently Chair of Marley Spoon AG and a Non-Executive Director of Appen Ltd, both of which are listed on the ASX. She also holds a number of positions on Government and Not for Profit Boards.

Deena has a degree from the London School of Economics and a Law degree from the University of Cambridge.

The Board is delighted that Deena has accepted its invitation to join the company and looks forward to working with her.

Authorised by the Board of Pro Medicus Limited.

Interview with Dr. Sam Hupert, CEO Pro Medicus [ASX: PME]

 

Interview with Dr Sam Hupert – Acrobat 182kb

Northwestern Memorial HealthCare (Northwestern) announcement
Operational update
Current pipeline and future prospects

Monday, 1 June 2020

Q: Today PME announced a $22 million, five-year contract with Chicago based Northwestern Memorial HealthCare (Northwestern). Can you briefly explain the key points of the deal?
A: It is a five-year deal, and has the usual structure being transaction-based with committed minimums. It is for our Visage 7 product, which will be deployed across all of Northwestern’s radiology departments. Once completed, they will have a single, enterprise-wide implementation of Visage.
Q: Where does this announcement rank with other previous announcements by PME with North American healthcare/hospital networks?
A: This certainly ranks up there as one of our most important not only because of the size of the deal, but also because of Northwestern’s standing in the medical and medical research communities. It will also provide us with a key reference site in the Chicago area.
Q: The market has been waiting a few months for another major announcement from PME – your last one being the Nines announcement in late December last year. What does this announcement mean for PME?
A: We have been telling the market over the past 12 months that our pipeline was the best it has been, both in terms of quantity and quality of prospects. Clearly, Northwestern was one of those opportunities, but there are a number of other prospects that we are continuing to work on. Some are looking at multiple products such as using Visage 7 Open Archive in addition to our Viewer, and there are also those who have expressed a preference for Cloud, so it is a good mix.
In [...]