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PRO MEDICUS LIMITED — Capital/Financing Update 2017
Nov 16, 2017
65579_rns_2017-11-16_acbc0947-de1e-42cb-9ee6-bbdb50ac6df8.pdf
Capital/Financing Update
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Pro Medicus Limited 450 Swan Street Richmond Victoria 3121 Australia T +61 3 9429 8800 F +61 3 9429 9455 www.promed.com.au
Company announcement
Pro Medicus signs $18M - 7 year contract with Yale New Haven Health
17 November 2017
HIGHLIGHTS
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7 year deal with Yale New Haven Health in the US
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Estimated value to PME in excess of AUD $18M
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Visage 7 to be implemented across Yale’s radiology departments and enterprisewide for clinical access to imaging results
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Transaction-based model with potential upside
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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 FY2017 with the remainder to be rolled out over a six month period.
Pro Medicus Limited ABN 25 006 194 752
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Pro Medicus Limited 450 Swan Street Richmond Victoria 3121 Australia T +61 3 9429 8800 F +61 3 9429 9455 www.promed.com.au
“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 belief that Visage 7 is uniquely positioned to cater to the needs of the most sophisticated and demanding clinical environments.”
Dr Hupert continued, “This is another major milestone for us in terms of market acceptance and we look to build on this as a basis for continued growth in North American and other global markets.”
For further information:
Dr Sam Hupert Chief Executive Officer Pro Medicus Limited Ph: +61 3 9429 8800
About Pro Medicus Limited:
Pro Medicus Limited [ASX: PME] is a leading medical imaging IT provider. Founded in 1983, the company provides a full range of radiology IT software and services to hospitals, imaging centres and health care groups worldwide. In late January 2009, the company announced the purchase of Visage Imaging, which has become a global provider of leading edge enterprise imaging solutions, pioneering the best-of-breed, or Deconstructed PACS[®] enterprise imaging strategy. Visage 7 technology delivers amazingly fast, multi-dimensional images streamed via an intelligent thin-client viewer. The company offers a leading suite of RIS, PACS and e-health solutions constituting one of the most comprehensive end-to-end offerings in radiology. Pro Medicus has global offices in Melbourne, Berlin and San Diego. www.promed.com.au
Pro Medicus Limited ABN 25 006 194 752
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Pro Medicus Limited 450 Swan Street Richmond Victoria 3121 Australia T +61 3 9429 8800 F +61 3 9429 9455 www.promed.com.au
About Yale New Haven Health:
Yale New Haven Health (YNHHS), the largest and most comprehensive healthcare system in Connecticut, is recognized for advanced clinical care, quality, service, cost effectiveness and commitment to improving the health status of the communities it serves. YNHHS includes five hospitals – Bridgeport, Greenwich, Lawrence + Memorial, Westerly and Yale New Haven hospitals, several specialty networks and Northeast Medical Group, a non-profit medical foundation with several hundred community-based and hospital-employed physicians. YNHHS is 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 New Haven Hospital is the primary teaching hospital of Yale School of Medicine. www.ynhhs.org
Pro Medicus Limited ABN 25 006 194 752