PRO MEDICUS LIMITED — Interim / Quarterly Report 2013

Feb 21, 2013

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Pro Medicus Limited 450 Swan Street Richmond Victoria 3121 Australia T +61 3 9429 8800 F +61 3 9429 9455 promedicus.com

Friday 22 February 2013

Pro Medicus Limited – Interim Results

Key points :

• First-half after-tax profit of $4.76 million – up 335.1% on previous corresponding period.

• Key driver of the profit increase was sale of Amira business in July 2012.

• Revenue from continuing operations $5.81 million – down 2.3% on previous corresponding period.

• Significant increase in cash reserves to $18.36 million at end of December 2012.

• Company remains debt-free.

• Interim dividend of 1.0c per share fully franked – up 100% on previous corresponding period.

Leading e-health company Pro Medicus [ASX: PME] today announced a first-half after-tax profit of $4.76 million for the six months to December 31, 2012 – an increase of 335.1% on the previous corresponding period.

Revenue from continuing operations was $5.81 million – down 2.3% on the previous corresponding period. This combined with adverse foreign currency movements and additional costs mainly associated with the introduction of Coral, the company’s new technology RIS platform, resulted in an underlying loss from ongoing operations of $0.63M.

The key driver of the profit increase was the sale of the Amira business in July 2012, which generated a one-off after-tax profit of $8.45 million. Pro Medicus sold Amira to a European IT company for €12Million (approximately A$14 million), having bought the business in February 2009 as part of its acquisition of Visage Imaging from Mercury Computer Systems.

Pro Medicus’ profit from the Amira sale was partially offset by an assessment of the carrying value of the company’s intangible assets which resulted in an after-tax impairment loss of $3.22 million

During the period the company continued its significant investment in research and development, both in Australia and overseas. This investment has led to several enhancements to the company’s existing product lines, in addition to further progress with the company's new technology RIS platform, which continued to be rolled out to new sites.

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 promedicus.com

Promedicus.net, the company's e-health offering, continued to perform well throughout the period despite increasing competition.

The company's cash reserves grew to $18.36 million at the end of December 2012. It is estimated that approximately $4.0 million of this will be used to pay tax on the profit from the Amira sale, leaving the company with estimated cash reserves of more than $14 million.

The company remains debt-free, and has announced an interim dividend of 1.0c per share fully franked – a 100% increase compared to the same period last year.

Pro Medicus Chief Executive Officer Dr Sam Hupert said, “The Board is of the view that whilst difficult trading conditions in Europe and North America continue to provide challenges in the short to medium term, the company is now better placed to meet these challenges as they arise. Our balance sheet is stronger than it has ever been.”

Dr Hupert said he was cautiously optimistic about the company’s two technology platforms – Coral and Visage. “We are currently working on a number of opportunities for our Visage technology, especially in the US, which are spread across a wide spectrum of radiology providers ranging from integrated health systems to large teleradiology groups. Whilst the sales cycle for these larger opportunities is long, especially in the current uncertain economic environment, we feel we are well placed as these companies now have a much deeper understanding of our products and what makes them unique. Things are also starting to pick up in Australia with the release of Coral, but North America represents our greater opportunity, at least at this stage. The American radiology market is starting to consolidate and we are looking to position ourselves so that we can benefit from the increased sales momentum that consolidation provides.”

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

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 promedicus.com

About Pro Medicus Limited:

Pro Medicus Limited [ASX: PME] is Australia’s leading medical IT and e-health provider. Founded in 1983, the company provides a full range of integrated software products and services to individual, corporate and public health providers. More than 26,000 doctors are now connected to the company’s e-health service, promedicus.net. A key growth area for the company is the adoption of its digital technology by radiology providers as they move away from analogue systems. In late January 2009, the company announced the purchase of Visage Imaging, a leader in advanced 3D visualisation technology. In 2010, the company’s Visage 7 technology was honoured with the Frost and Sullivan award for best “North American Medical Imaging Healthcare Innovation of the Year”.

www.promedicus.com.au

Pro Medicus Limited ABN 25 006 194 752