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MACH7 TECHNOLOGIES LIMITED — Capital/Financing Update 2016
Aug 1, 2016
65285_rns_2016-08-01_0db96d2b-6185-4156-9c7e-ae848101c10e.pdf
Capital/Financing Update
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ASX Announcement
2 August 2016
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Mach7 Selected by Large U.S. University Medical Centre
Summary
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5-year software licence providing contracted revenues in excess of US$800,000
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Mach7 technology selected for its technical superiority and extensive flexibility
Melbourne, Australia – 2 August 2016: Mach7 Technologies Limited ( Mach7 ) (ASX: M7T ) is pleased to announce it has signed a 5-year license of Mach7 Enterprise Imaging Platform software to a large U.S. University Medical Centre.
Under the terms of the 5-year software license agreement, Mach7 will earn in excess of US$800,000 in contracted revenues. The majority of this contract value is expected to be recognised as revenue this calendar year upon the software being delivered and installed at the University Medical Centre. Additionally, Mach7 will earn a guaranteed annual support fee for at least five years, increasing its growing annual support fee revenue stream.
The University Medical Centre performs more than 20,000 surgeries each year and generates more than US$2 billion in annual revenue. Mach7 is unable to disclose the name of the customer at this time.
The compelling value proposition of Mach7 Enterprise Imaging Platform was reinforced by the customer, who said Mach7 was chosen ahead of its competitors because of its technical superiority, extensive flexibility and immediate benefit to the enterprise without the significant investments in custom coding that other solutions would have required.
The flexible and robust tool set offered by Mach7 Enterprise Imaging Platform is an “off-theshelf” solution that enables highly specialised workflows previously unavailable to customers. In addition to basic routing and pre-fetching functionality, these workflows allow customers to immediately improve clinical operations and patient outcomes, while reducing costs for the enterprise.
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ASX Announcement
2 August 2016
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About Mach7 Technologies:
Mach7 Technologies (ASX:M7T) develops innovative enterprise imaging IT solutions that create a clear and complete view of the patient to inform diagnosis, reduce care delivery delays and costs, and improve patient outcomes. Mach7’s award-winning enterprise imaging platform provides a vendor neutral foundation for unstructured data consolidation and communication to power interoperability and enables healthcare enterprises to build their best-of-breed clinical ecosystems. Mach7’s sophisticated workflow tools, advanced clinical viewing and optimised vendor neutral archiving solutions unlock silos of legacy systems empowering healthcare providers to own, access and share patient data without boundaries. Visit www.mach7t.com.
About 3D Medical:
Mach7’s wholly-owned subsidiary, 3D Medical Pty Limited, provides medical specific 3D printing and is an exclusive distributor of various synergistic technologies including holographic projection. 3D Medical’s innovative products leverage data already captured by conventional imaging modalities and apply it in more meaningful ways to deliver improved economic and patient outcomes. For more information, visit www.3dmedical.com.au.
Contacts :
Albert Liong CEO +1 650 743 0167 (U.S.) [email protected]
Jenni Pilcher CEO Australia, CFO +61 3 9646 2222 (Australia) [email protected]
Julia Vaughn Investor Relations (U.S.) +1 802 768 0143 (U.S.) [email protected]
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