News

Pro Medicus Signs 5-Year Visage RIS Deal with I-MED Radiology

1 May 2018; Company Announcement – Pro Medicus Signs 5-year Visage RIS Deal with I-MED Radiology – Acrobat pdf 259k

Highlights

I-MED to standardise on Visage RIS across all 200 practices
I-MED’s Regional Imaging (RIL) and Queensland businesses to transition to Visage RIS over next 12 months
New sites to add an additional $1.4 million in revenue per annum
Contracts for existing Visage RIS sites to be extended for a further 5 years
Potential for upside as I-MED continues to grow
Once completed, will be one of the largest RIS installations globally

Leading healthcare imaging company Pro Medicus Limited [ASX: PME] today announced it has signed a five-year agreement with I-MED Radiology Network (I-MED), that will see I-MED standardise on Visage RIS across all of its practices.

I-MED, Australia’s largest diagnostic imaging provider, performs over 4.6 million patient procedures annually across New South Wales, ACT, Victoria, Tasmania, Northern Territory and Queensland.

As part of this agreement, I-MED will transition its Regional Imaging (RIL) and Queensland practices to Visage RIS over the next 12 months. This is expected to deliver an additional $1.4 million per annum revenue once these sites are fully implemented. In addition, I-MED will extend its existing Visage RIS contract for the Victorian, NSW and ACT operations for a further 5 years.

Dr Sam Hupert, CEO of Pro Medicus said, “I-MED is the largest diagnostic imaging provider in Australia and with this deal we further cement our position as leaders in the Australian RIS market. Once completed, this will be one of the largest RIS installations in the world.”

I-MED Chief Executive Steven Rubic said, “We were keen to consolidate our systems into a single, national platform that would provide us with significant cost synergies [...]

Dr Sam Hupert | CEO Interim Results Open Briefing

PME 1H FY18 Open Briefing 14 Feb 2018 – Acrobat pdf 375k

16 February 2018

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

 

 

 

 

Pro Medicus Limited Interim Results

16 February 2018; Company announcement – Pro Medicus Limited Interim Results – Acrobat pdf 101k

Highlights

Revenue of $16.57m – up 9.0%
Underlying after tax profit of $5.42m– up 33.0%
Net profit (after currency) of $5.07m– up 5.7%
Margins increase to 41.5%
Cash reserves $22.80m
Company remains debt-free
Fully franked interim dividend of 2.5c per share

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced a first-half underlying (less currency) after tax profit of $5.42m, 33.0% higher than the previous corresponding period on revenue, which increased 9.0% to $16.57m. Margins increased from 38.5% to 41.5% period on period.

Net profit after tax and after currency losses was $5.07m for the six months to 31 December 2017 – 5.7% higher than for the previous corresponding period. The currency loss for the period was $0.35m, as compared with a gain of $0.72m in the previous corresponding period.

The company’s cash reserves at 31 December 2017 were $22.80m despite a 67.2% increase in the final dividend payout, increased tax payments and greater investment in research and development during the six-month period.

The company remains debt-free and announced a fully franked interim dividend of 2.5c per share.

During the period, Pro Medicus continued to make strong inroads into the North American market, as evidenced by the $18m contract with Yale New Haven Health (“Yale”), one of North America’s most respected healthcare institutions, signed in November 2017.

Dr Sam Hupert, Pro Medicus CEO said, “All of Pro Medicus’ key implementations remain on or ahead of schedule, and revenue from these implementations and the recently announced Yale contract will continue to flow in the months ahead.”

Pro Medicus’ European business performed in line with expectations, with increased revenue from several smaller sales to external [...]

Dr Sam Hupert | CEO on Update Open Briefing

Pro Medicus Open Briefing 12 15 17 – Acrobat pdf 365k

15 December 2017

Open Briefing interviewed Pro Medicus CEO, Dr Sam Hupert, discussing the recent Yale New Haven Health contract signing, as well as the unveiling of Visage’s artificial intelligence (AI) offerings at the recent 2017 Radiological Society of North America (RSNA) annual meeting.

 

 

 

 

 

Pro Medicus Showcases AI Advances at RSNA 2017

22 November 2017; Company Announcement – Pro Medicus Showcases AI Advances at RSNA 2017 – Acrobat pdf 120k

Highlights

Visage unveils advances in artificial intelligence (AI) at the RSNA 2017 Machine Learning Showcase.
Visage 7 – the only solution to combine both AI research and AI aided diagnostic interpretation capabilities in a single, enterprise imaging platform.
Algorithms developed by Visage as well as third parties will be demonstrated.

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced that its wholly owned US subsidiary, Visage Imaging, Inc., will debut its artificial intelligence (AI) offerings at the Radiological Society of North America (RSNA) 2017 annual meeting (Visage Kiosk 8149M, North Hall B) as part of the inaugural RSNA Machine Learning Showcase (November 26-30, Chicago, Illinois).

Significant promise and investment are driving a wide range of AI initiatives in healthcare IT particularly in the area of health imaging. The company’s vision is to utilise its R&D capability and market leading technology to deliver cutting-edge AI offerings to optimize Enterprise Imaging worldwide.

Visage will showcase technology that makes Visage 7 the first and only system to combine both AI research and AI assisted diagnostic interpretation in the same Enterprise Imaging platform.

“Historically, imaging platforms for research and diagnostic purposes have been totally separate,” said Malte Westerhoff PhD, Co-founder and Global CTO of Visage Imaging. Dr Westerhoff continued, “Visage’s GPU-based architecture is ideal for AI and, combined with our open APIs, will enable us to unify research and diagnostic imaging in ways not available before. This will enable AI breakthroughs to advance patient care by giving radiologists faster access to new tools that help increase productivity and improve clinical accuracy.”

The company will also show algorithms working on the ultrafast and highly scalable [...]

Pro Medicus Signs $18M – 7 Year Contract with Yale New Haven Health

17 November 2017; Company Announcement – Pro Medicus Signs Yale – Acrobat pdf 83k

Highlights

7 year deal with Yale New Haven Health in the US.
Estimated value to PME in excess of AUD $18M.
Visage 7 to be implemented across Yale’s radiology departments and enterprise-wide for clinical access to imaging results.
Transaction-based model with potential upside.
Consolidates PME in the US academic radiology space.

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly owned US subsidiary, Visage Imaging, Inc., has signed an AUD $18 million, 7 year contract with Yale New Haven Health (“Yale”), affiliated with Yale University and Yale Medicine, the clinical practice of the Yale School of Medicine and the largest academic multi-specialty practice in New England. Yale is one of the leading, most respected academic institutions in the US.

The contract, based on a transaction licensing model, will see Pro Medicus’ Visage® 7 technology implemented across all of Yale’s radiology departments and integrated to their EHR for imaging results.

The implementation will span five hospitals — Bridgeport, Greenwich, Lawrence+Memorial, Westerly, and Yale New Haven hospitals, including Yale New Haven’s Children Hospital and Smilow Cancer Hospital at Yale New Haven, as well as numerous additional imaging locations across the state of Connecticut. Yale New Haven Hospital is the primary teaching hospital of the Yale School of Medicine.

The first locations are scheduled to go live early in the second half of FY2018 with the remainder to be rolled out over a six month period.

“This is another very significant contract for us,” said Dr Sam Hupert, Pro Medicus CEO. “Yale is one of the top academic institutions in the US and its’ medical school is renowned. Their decision further validates our [...]

Dr Sam Hupert | 2017 Full-Year Results Open Briefing

PME CEO on FY2017 Results – Acrobat pdf 383k

18 August 2017

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

 

 

 

Pro Medicus Delivers Record Profit

18 August 2017; Company Announcement – Full Year Results 2016-2017 – Acrobat pdf 186k

Highlights

Record after-tax profit of $9.32 million – up 46%
Underlying profit after-tax of $9.87 million – up 53%
Revenue of $31.62 million – up 15%
Margins increase to 45% – up 29%
Cash reserves $22.78 million – up 33%
Increased final dividend 2.5c per share, fully franked
Total dividends for year 4c per share, partially franked

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced a record full- year after-tax profit of $9.32 million for the 12 months to 30 June 2017 – a 46% increase on the previous corresponding period. Underlying profit after tax (excluding currency) was $9.87 million – up 53.4%.

Revenue for the year grew by 15% to $31.62 million.

The company’s cash reserves grew to $22.78 million an increase of 33%. The company remains debt-free.

The Board announced a fully-franked final dividend of 2.5c per share, making total dividends for the year 4c per share, partially-franked.

Key drivers of the result were strong performances from the company’s North American and Australian divisions, as well as decreased operating expenses all of which contributed to significant margin growth.

Pro Medicus CEO, Dr Sam Hupert said, “This was our most successful year by any measure. Net profit rose strongly despite an unrealised currency loss of $544,000. Stripping out currency, underlying profit increased by 53% to $9.87 million. Margins grew by 29% and we think there is 
headroom in FY18 for further margin growth. We are also delighted to have returned to fully- franked dividends 6 months earlier than previously predicted.”

Dr Hupert said both the North American and Australia businesses performed strongly, while Europe was in line with budget.

“The upside [...]

Dr Sam Hupert | CommSecTV Executive Series

18 May 2017

Dr Sam Hupert, CEO and Co-Founder, Pro Medicus, was recently interviewed by CommSec’s Tom Piotrowski, Market Analyst, for the Executive Series on 27 April 2017. In the below video interview, Dr Hupert provides a Pro Medicus update and overview, while also discussing market potential, competitive forces, financial performance and growth opportunities.

 

 

PME Brings Visage 7 Open Archive to North America

18 May 2017; Company Announcement – PME Introduces Visage 7 Open Archive – Acrobat pdf 81k

Highlights

Built on the same ultrafast, highly scalable enterprise imaging platform used in Visage 7.
Modular design based on open standards ensures maximum interoperability even in the most complex environments.
Already in use in many large scale implementations outside the U.S.
Enables Visage to offer choice of deconstructed or single vendor solutions.
Well placed to fill the needs of a rapidly changing North American archive market.

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly owned U.S. subsidiary, Visage Imaging, Inc., has introduced Visage 7 Open Archive in North America. Already in use at many large-scale implementations outside the U.S., Visage 7 Open Archive delivers ultrafast access to images and industry-leading scalability all within a modular, open standards framework.

“With Visage 7, we’ve set the benchmark when it comes to speed, functionality and scalability,“ said Malte Westerhoff, PhD, Co-founder and Global CTO of Visage Imaging. “The archive is an integral part of an enterprise imaging strategy, so it too must have the necessary performance, interoperability and scalability. We have been able to achieve this with Visage 7 Open Archive by utilising the same enterprise imaging platform that has made Visage 7 so successful, whilst at the same time ensuring that it is open standards based.”

Visage 7 Open Archive closely couples the storage of images to Visage 7 to provide performance and interoperability unmatched by others.

“Unlike legacy PACS vendors, we have offered a modular or deconstructed solution that provides our clients with the flexibility to choose the technology components that best suits their needs,” said Dr Sam Hupert, Pro Medicus CEO. “To date, we have replaced more than 40 [...]