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MACH7 TECHNOLOGIES LIMITED — Capital/Financing Update 2015
Nov 22, 2015
65285_rns_2015-11-22_84aedf28-29d0-4739-8a41-14afdf3eb9f5.pdf
Capital/Financing Update
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ASX Announcement
23 November 2015
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Completes implementation of first Mach7 VNA radiology site in Australia
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4-year license agreement that delivers contractual revenue to 3D Medical
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Radiology studies transmitted through Telstra and managed using Mach7 Vendor Neutral Archive (VNA) software in partnership with 3D Medical
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High-margin license fee income based on number of studies transmitted
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Validates business model and provides a valuable reference site in Australia
3D Medical Limited (ASX:3DM) ( 3DM or the Company ) and distribution partner Telstra Health announce the successful implementation of an enterprise-wide Mach7 Technologies Vendor Neutral Archive ( VNA ) in Australia.
Leading diagnostic imaging provider Capital Radiology ( Capital ) signed a four year contract in July as the foundation customer and the solution has now successfully been implemented and deployed across 55 of Capital’s 72 clinics.
The vendor neutral image and data management service provides radiologists with the ability to view x-rays, MRI and other radiology studies, regardless of location or the system used to capture the image. The service bundles vendor neutral archiving capability with a curated storage solution and Telstra’s best of breed network. This combination of software and the Telstra IP network allows very large studies to be rapidly fetched from the archive by any site in the network, reducing idle time and improving efficiency.
The sharing ability of the solution delivers multiple benefits, especially improving efficiency and reducing cost by avoiding unnecessary duplicate imaging and lost time while waiting for images to load. It also means second reviews can be conducted or reports archived without concern as to what system was used to capture the image and lends itself to radiology providers who outsource their reporting services to teleradiology organisations.
Under the arrangement, 3D Medical and Mach7 Technologies both generate licence fee income based on the number of radiology studies archived within the VNA software system. Capital Radiology are expected to generate more than 1 million radiology studies per annum.
Dr Nigel Finch, Chairman of 3DM said “working with our distribution partner Telstra Health we successfully completed the first implementation of a Mach7 Technologies VNA in Australia. The on-time delivery within Capital Radiology’s expansive network provides a valuable reference site to assist in generating further licence sales from a strong pipeline of Australian opportunities and also validates our business model for generating licence fee income for the management of medical image data. The annuity-style revenue generated by licence fees of this type produces high-margin revenues for 3DM to underpin our business development activities and provides certain and contractual cash flows.”
-ENDS
3D Medical Limited ACN 007 817 192 Unit 4, 435 Williamstown Road, Port Melbourne, Victoria 3207 W:www.3Dmedical.com.au I E:[email protected] I T:+613 9646 2222 I F:+613 9645 4707
ASX Announcement
23 November 2015
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For more information, contact :
3D Medical Limited Dr Nigel Finch, Chairman (+61 421 742 878) Email: [email protected] Web: www.3Dmedical.com.au
About 3D Medical Limited:
At 3D Medical our aim is to aid medical professionals in the facilitation of improved clinical care, improving medical procedures, diagnostics and ultimately improving patient outcomes. 3D Medical is a medical specific 3D printing and holographic projection and data integrations provider. Our services 3D Medical Printing; EchoPixel (holographic projection technology); GestSure (in surgery image control); Mach 7 (enterprise imaging solution provides healthcare organisations with the ability to archive, consolidate, access, and share medical imaging data across departments, locations and regions); and MediDATA provide medical practices the opportunity to leverage their analytical capabilities to gain an improved understanding of the characteristics of the patients which drive their business. These new and innovative products leverage data already captured by conventional imaging modalities and apply it in more meaningful ways to deliver improved economic and patient outcomes. On 26 October 2015, 3D Medical announced that it had entered into a binding merger agreement with Mach7 Technologies. Under the terms of the merger agreement 3D Medical would raise more than $10 million in new shares to provide working capital to support the growth of both businesses. Subject to shareholder approval, and upon successful completion of the merger, 3D Medical will change its name to Mach 7 Technologies.
About Telstra Health:
Telstra Health is a provider of eHealth solutions with the ambition to create a better health system for patients, providers and health insurers. Telstra Health aims to be the partner of choice and is working with medical experts, the health sector, government, funders as well as the world’s best and most innovative eHealth companies to build a future where eHealth solutions are integrated together to create a brilliantly different health care system. Telstra Health is a business division of Telstra Corporation, Australia’s leading telecommunications company.
About Capital Radiology:
Capital Radiology is a leading diagnostic imaging provider who is committed to providing prompt and professional care. Our objective is to build a leading healthcare business that makes diagnostics faster, more accurate and more efficient whilst delivering a superior patient outcome and experience at all of our clinics. With an established strong business model firmly in place, coupled with a clear and focused strategy, Capital Radiology is perfectly positioned in the Australian diagnostic imaging market place for robust and continued growth. Our goals, beliefs and principles are the foundation of the work we do every day on behalf of our staff, patients and referrers. With over 70 facilities across Victoria and New South Wales, led by our subspecialty trained radiologists, Capital Radiology provides you comprehensive diagnostic support across all imaging modalities.
3D Medical Limited ACN 007 817 192 Unit 4, 435 Williamstown Road, Port Melbourne, Victoria 3207 W:www.3Dmedical.com.au I E:[email protected] I T:+613 9646 2222 I F:+613 9645 4707