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MACH7 TECHNOLOGIES LIMITED — Capital/Financing Update 2021
Sep 27, 2021
65285_rns_2021-09-27_b39b20b9-f69e-45d7-b830-c85909af52f8.pdf
Capital/Financing Update
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ASX Announcement
Trinity Health Purchases License to Mach7’s PACS Solution
Melbourne, Australia; 28 September 2021 : Mach7 Technologies Limited (“Mach7” or the “Company”) (ASX:M7T) today announced it has received purchase orders for its Mach7 Enterprise Imaging Platform, eUnity Diagnostic Viewer, eUnity Enterprise Viewer, and Mach7 Universal Worklist from Trinity Health (“Trinity”). These initial purchase orders have a combined value of $3.6 million for software and services which is expected to be recognised this financial year. Following the software being deployed in the live environment at Trinity, these orders will contribute a further $3.8 million in support fees over the next seven years, taking the total contract value of this initial order to $7.4 million.
These orders follow the 7-year contract Mach7 signed with Trinity for the eUnity Enterprise Viewer, announced to ASX on 13 November 2020. With the purchase of the Mach7 Platform, Diagnostic Viewer and Worklist, Mach7 will now be supplying Trinity with a full diagnostic PACS solution that supports their Unified Clinical Imaging Platform (UCIP) strategy. The total maximum value of the PACS solution (all components) is $15.6M over seven years (including the previously announced Enterprise Viewer contract).
“I am excited for the opportunity to with Trinity Health, one of the top healthcare delivery networks in the United States” said Mike Lampron, CEO of Mach7. “I believe the full Mach7 solution is well-positioned to deliver on the strategic objectives of Trinity’s Unified Clinical Imaging Platform Strategy and I look forward to being a part of their initiative.”
About Trinity Health:
Trinity Health is one of the largest multi-institutional Catholic health care delivery systems in the United States, serving diverse communities that include more than 30 million people across 22 states. Trinity Health includes 92 hospitals, as well as 100 continuing care locations that include PACE programs, senior living facilities, and home care and hospice services. Its continuing care programs provide nearly 2 million visits annually.
Based in Livonia, Michigan, and with annual operating revenues of $18.8 billion and assets of $30.5 billion, the organization returns $1.3 billion to its communities annually in the form of charity care and other community benefit programs.
Trinity Health employs about 123,000 colleagues, including 6,800 employed physicians and clinicians. Committed to those who are poor and underserved in its
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Mach7 Technologies Limited ABN 26 007 817 192 ASX:M7T
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ASX Announcement
communities, Trinity Health is known for its focus on the country's aging population. As a single, unified ministry, the organization is the innovator of Senior Emergency Departments, the largest not-for-profit provider of home health care services — ranked by number of visits — in the nation, as well as the nation’s leading provider of PACE (Program of All Inclusive Care for the Elderly) based on the number of available programs.
This announcement has been approved for lodgment by the Board.
About Mach7 Technologies:
Mach7 Technologies (ASX:M7T) develops innovative data management 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 bestof-breed clinical ecosystems. Mach7’s sophisticated workflow tools, advanced clinical viewing and optimized vendor neutral archiving solutions unlock silos of legacy systems empowering healthcare providers to own, access and share patient data without boundaries. Visit Mach7t.com.
For more information, contact:
Jenni Pilcher CFO, Mach7 [email protected]
Andrew Keys Investor Relations [email protected]
Registered Office: Tower 4, 727 Collins Street Docklands, 3008
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Mach7 Technologies Limited ABN 26 007 817 192 ASX:M7T