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PRO MEDICUS LIMITED — Capital/Financing Update 2022
Jun 13, 2022
65579_rns_2022-06-13_203ff22e-b4d9-4533-b840-f145d79748d2.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
14 June 2022
Company announcement
PME signs two contract renewals with a combined minimum value of A$47M
HIGHLIGHTS
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Signs two contract renewals with a combined minimum value of A$47M
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Sutter Health renews for seven years - Wellspan Health for five
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Contract renewals transaction-based with potential upside
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Renewals negotiated at an increased fee per transaction
Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly owned U.S. subsidiary, Visage Imaging, Inc., has signed two key contract renewals with a combined value of A$47M.
Sutter Health, a large IDN based in Sacramento, California has signed for a further seven years, and Wellspan Health based in Pennsylvania for a further five. Both deals are transaction based with committed minimums and have been negotiated at a higher per transaction cost than their original contracts.
“The industry norm for renewals is for short extensions to the original contract at the same or lower price. “said Dr Sam Hupert, Pro Medicus CEO. “The fact that our clients have renewed for a full or longer contract term at an increased price supports our belief that the Visage solution delivers unparalleled value both in terms of financial and clinical ROI.
“Whilst it is still early days, our renewal success rate sends a positive message to the market and helps build on the network effect that we have been experiencing”.
Authorised by the Board of Pro Medicus Limited.
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
For further information:
Dr Sam Hupert Chief Executive Officer Pro Medicus Limited Ph: +61 3 9429 8800
Media:
Richard Allen Oxygen Financial Public Relations Ph: +61 3 9915 6341
About Pro Medicus Limited:
Pro Medicus Limited [ASX: PME] is a leading healthcare informatics company. Founded in 1983, the company provides a full range of medical imaging software and services to hospitals, imaging centres and health care groups worldwide. In January 2009, the company acquired Visage Imaging transforming it into a global provider of leading-edge medical imaging solutions. The company’s Visage 7 suite of products are the foundation of an ultra-fast, clinically rich, and highly scalable platform that can seamlessly be implemented in both public and private cloud environments. The company offers a leading suite of RIS, PACS, Artificial Intelligence (AI) and e-health solutions constituting one of the most comprehensive end-to-end offerings in healthcare imaging. Pro Medicus has offices in Melbourne, Berlin and San Diego. www.promedicus.com.au
Pro Medicus Limited ABN 25 006 194 752