pdfPME Signs Deal with vRad – Acrobat pdf 33k

8 May 2013

Key Points:

  • Visage® 7 to become a central component of vRad’s technology platform
  • vRad employs more than 400 radiologists, reading approximately 7 million studies annually
  • First phase of the Visage 7 rollout is to two East Coast radiology groups in the vRad Alliance with potential for others to follow
  • Transaction-based model has significant upside for PME

Leading e-health company Pro Medicus [ASX: PME] today announced its wholly-owned subsidiary, Visage Imaging Inc. (“Visage”), has signed a five-year agreement with vRad (Virtual Radiologic), one the world’s largest radiology groups.

vRad, whose more than 400 radiologists read 7 million radiology studies annually, will implement the Visage 7 Enterprise Imaging Platform as a central component of its technology platform focused on delivering a real-time, ‘read anywhere, read anytime’ environment. This will enable vRad to dynamically orchestrate when and by whom studies are read from anywhere within their owned partner radiology groups (hospitals and offsite), as well as their vast teleradiology network.

“We performed an extensive analysis of the market before making our decision, “ said Jordan Halter, vRad’s Vice President of Business and Clinical Strategy. “Visage 7’s speed and clinical depth immediately impressed us and we couldn’t be more excited. Visage is a key component of our new technology platform and will enable us to rapidly stream even the largest radiology cases, to the most appropriate radiologist for interpretation, while also providing the most comprehensive clinical tools available.”

The first phase of Visage implementations are planned for Diagnostic Imaging, Inc. (DII) and the New York Radiology Alliance (NYRA), both part of the vRad Alliance Network.

Mr. Halter added, “I’ve been fortunate to be in Medical Imaging and Medical Informatics for many of the formative years and there is no doubt that the Visage viewer and architecture provides tremendous advantages and flexibility for those looking to thrive in a consolidating market.”

Dr. Sam Hupert, CEO of Pro Medicus Ltd said, “We are extremely pleased to be part of this key initiative. vRad is leveraging the unique strengths of Visage 7 enabling their technology platform to meet the 
 dynamic needs of integrated hospital-based and remote reading requirements. It is a platform for the future, one that has unparalleled scalability, clinical depth and speed, all of which are critical especially in the highly competitive North American radiology market.”

Commenting on the commercial aspects of the deal, Dr Hupert said, “This is a key milestone for us. The first phase of the rollout is material in its own right yet represents a relatively small percentage of vRad’s overall volume, so there is potential for significant upside in this contract. A deal of this magnitude, with such a large and prominent client, helps put us firmly on the map in the US market.”