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
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 [...]
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
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 [...]
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
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,” [...]
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
4 November 2019; Company Announcement – OSUWMC Final – Acrobat pdf 120k
Highlights
PME signs 5-year deal with The Ohio State University Wexner Medical Center (OSUWMC)
Visage 7 to be implemented across all of OSUWMC’s radiology departments
Transaction-based financial 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 5-year contract with The Ohio State University Wexner Medical Center (OSUWMC). OSUWMC is a large multi-disciplinary academic medical center located in Columbus, Ohio.
OSUWMC employs approximately 30,000 staff, 1,700 physicians, supporting over 1,500 inpatient beds. It is also the teaching hospital for The Ohio State University College of Medicine (OSUCOM).
The contract, based on a transaction-based licensing model, will see Pro Medicus’ Visage 7 technology implemented across all of OSUWMC’s radiology departments spanning seven (7) hospitals and outpatient clinics, as well as integrated to OSUWMC’s electronic health record.
The implementation will begin in Q2 FY20, and complete in mid-2020.
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 Final – Acrobat pdf 3,000k
22 August 2019
Pro Medicus Limited Investor Presentation FY2019 Results