News

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 [...]

Pro Medicus signs A$22M – 5-year contract with Northwestern Memorial HealthCare

1 June 2020; Company Announcement – Northwestern – Acrobat pdf 108k

Highlights

PME signs 5-year, A$22M deal with Northwestern Memorial HealthCare for Visage 7
Extends PME’s footprint in the U.S. academic hospital segment, as well as regionally based community hospitals
Transaction-based licencing model

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly- owned U.S. subsidiary, Visage Imaging, Inc., has signed a 5-year contract with Chicago based Northwestern Memorial HealthCare (NMHC).

The contract, which is based on a transaction-based licensing model, will see the company’s Visage 7 technology implemented at NMHC commencing in Q1 FY21.

Authorised by the Board of Pro Medicus Limited.

Dr Sam Hupert | CEO on Update

PME OB Feb 2020 Final – Acrobat pdf 404k

13 February 2020

Open Briefing interviewed Pro Medicus CEO, Dr Sam Hupert, where he discussed:

Financial results for the six months ended 31 December 2019
Strong cash flows and increased dividend payout
Record pace of implementation for PartnersHealthcare
Strong pipeline and capacity for implementation of new contracts
Feedback on new products – AI Accelerator and Visage 7 Worklist

 

 

 

Pro Medicus Limited Interim Results

13 February 2020; Company Announcement – HY2020 Results Final – Acrobat pdf 129k

Highlights

Revenue $29.3m – up 15.7%
Net profit after tax $12.1m – up 32.7%
Underlying profit before tax $14.8m – up 45.3%
Cash reserves $38.8m – up 20.2%
Fully franked interim dividend 6c per share up 71.4%
2 key contracts announced during the period

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced an interim after-tax profit of $12.1m for the six months ending 31 December 2019, 32.7% higher than for the previous corresponding period.

Revenue from operations was $29.3m, a 15.7% increase on the previous corresponding period. Underlying revenue which excludes the one-off capital sale to the German Government made in the first half of FY2019 increased by 39.1% due to solid growth in all key jurisdictions: North America (43.1%) Europe (52.0%) and Australia (21.5%).

The company’s cash reserves at 31 December 2019 were $38.8m, a rise of 20.2%. Pro Medicus announced an interim fully-franked dividend of 6c per share. The company remains debt-free.

During the six-month period Pro Medicus announced two key contract wins:

Ohio State University – November 2019 – a $9 million five-year contract with the Ohio State University Wexler Medical Center, a large multi-disciplinary academic medical centre in Columbus, Ohio.

Nines Inc – December 2019 – a $6 million five-year deal with Palo Alto-based Nines that will see Nines standardise on the Visage in the Cloud platform.

Dr Sam Hupert, Pro Medicus CEO, described the interim result as one that provides a solid base for future growth.

“All our numbers moved in the right direction,” he said. “We surpassed last year’s revenue by over 15% taking into account the $3.0M one-off capital sale from the previous period which we [...]

Pro Medicus Limited Half-Year FY 2020 Results Webcast Announcement

Leading health imaging company Pro Medicus (ASX: PME) today announced its half year results will be released on Thursday, 13 February 2020.

Pro Medicus will also host a webcast conference call on Thursday, 13 February 2020 at 11.00am – please refer to the link below:

Webcast Public Link: https://services.choruscall.com.au/webcast/promedicus-200213.html

Pro Medicus Signs 5-Year Platform Deal with Nines for Future Radiology Services

30 December 2019; Company Announcement – Nines Dec 2019 – Acrobat pdf 283k

Highlights

Visage 7: the cloud-based platform for Nine’s development of future radiology services
Transactional based model with potential upside as volumes grow
Opens up potential for new Radiology-as-a-Service market for Visage
Adds to PME’s growing footprint in North America

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly-owned U.S. subsidiary, Visage Imaging, Inc., has signed a 5-year, multi-million dollar contract with Palo Alto based Nines. Nines is co-founded by CEO David Stavens PhD, a highly respected Silicon Valley inventor/entrepreneur, and CMO Alexander Kagen, MD the Site Chair of Radiology at Mount Sinai’s West and St. Luke’s Hospitals in New York City.

The offering, based on Visage 7 technology, will be hosted in Google Cloud Platform and will provide Nines with an immensely scalable and highly optimised platform.

“This is an extremely exciting opportunity for us,” said Pro Medicus CEO Dr Sam Hupert. “The team behind Nines are incredibly well known and respected in machine learning, AI, and radiology circles. Partnering with them will allow us to support their efforts to develop future products with our highly optimised Visage 7 cloud-based solution for on-demand reads.”

The five-year contract is based on committed exam volumes that step up year-on-year aligning with projected growth of the Nines offering in the market. This will result in base revenue to Pro Medicus in excess of AUD$6M over the life of the contract with the potential for significant upside. Implementation will begin in the next few weeks with go live anticipated in early Q2 of the 2020 calendar year.

“Leading healthcare institutions expect high-quality radiology reports 24/7. Visage and Nines are collaborating on a modern cloud-based service [...]

Dr Sam Hupert | CEO on Update

PME OB 16 Dec 19 – Acrobat pdf 415k

16 December 2019

Open Briefing interviewed Pro Medicus CEO, Dr Sam Hupert, where he discussed:

AGM Commentary – ahead of budget year to date plus strong cash inflow post balance date
Feedback from the recent RSNA conference in Chicago
Market’s reaction to PME’s AI accelerator platform announced at last month’s AGM
Visage’s new Breast Density Algorithm
Competitive landscape – positioning of PME technology

 

 

 

 

 

 

 

Pro Medicus to Showcase Visage AI Accelerator at RSNA 2019

28 November 2019; Company Announcement – Pro Medicus to Showcase Visage AI Accelerator at RSNA 2019 – Acrobat pdf 119k

Highlights

PME to showcase Visage AI Accelerator at the RSNA 2019 meeting in Chicago
New semantic annotation functionality to optimise curation and building of new AI models
Collaboration with the American College of Radiology (ACR) to integrate Visage semantic annotations with ACR AI-LABTM
AI ecosystem for Visage and third-party algorithms
Visage developed breast density classification algorithm to be demonstrated as WIP

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly-owned U.S. subsidiary, Visage Imaging, Inc., will be showcasing the Visage AI Accelerator solution and the new Visage developed breast density classification algorithm (works-in-progress (WIP)) at the Radiological Society of North America (RSNA) conference, December 1-5, 2019.

Visage AI Accelerator is a multi-faceted, end-to-end solution translating AI ‘from research to bedside’. The Visage AI Accelerator solution includes: the Visage 7 AI research server, as well specialised data curation and annotation tools including the new semantic annotation capability to bridge the entire spectrum from research to diagnostic use via a single, unified platform. Key to the accelerator solution is an open API that enables native integration of both Visage and third-party developed algorithms into the company’s flagship Visage 7 product.

“Radiologists have told us they don’t want separate systems when it comes to AI, so we developed an open API that allows our customers to choose the algorithms that best suit their needs all fully integrated into the Visage 7 Enterprise Imaging Platform. We see this as the foundation of our Visage AI Accelerator ecosystem and will be showing a number of third-party AI products seamlessly integrated into our platform at the RSNA,” [...]

Dr Sam Hupert | CEO on Update

PME OB 4 Nov 2019 Final – Acrobat pdf 410k

4 November 2019

Open Briefing interviewed Pro Medicus CEO, Dr Sam Hupert, where he discussed:

New 5-year contract with The Ohio State University Wexler Medical Center
Pipeline growth and recent influx of RFPs
Competitive landscape – WA Health contract
Upcoming RSNA 2019