Mach7 Technologies (ASX:M7T) receives new orders from existing customers

• Mach7 Technologies (M7T) receives new orders from existing customers Trinity Health and Penn State Milton S. Hershey Medical Centre
• Trinity Health has signed a statement of work that surrounds the first deployment wave of its Unified Clinical Imaging Platform
• This will see Mach7’s Enterprise Imaging Platform, Universal Worklist, eUnity Enterprise viewer and eUnity Diagnostic View implemented at Trinity’s facilities across Michigan
• Additionally, Penn State has signed a contract renewal and licence expansions for the Mach7 Enterprise Engineering Platform
• Mach7 ends the day a slight 0.68 per cent in the green with shares trading at 74 cents

Mach7 Technologies (M7T) has received new orders from existing customers Trinity Health and Penn State Milton S. Hershey Medical Centre.

Trinity Health has signed a statement of work that surrounds the first deployment wave of its Unified Clinical Imaging Platform.

This platform will see Mach7’s Enterprise Imaging Platform, Universal Worklist, eUnity Enterprise viewer and eUnity Diagnostic View implemented at Trinity’s facilities across southeast Michigan.

The statement of work has a total contract value of $900,000 which Mach7 will recognise as services revenue from now until FY23.

The devices will be deployed in waves and once all waves have been fully deployed, Mach7’s solution will be available across 92 hospitals in 22 states.

Penn State has signed a contract renewal and licence expansions for the Mach7 Enterprise Engineering Platform.

The renewal has a two-year term and will cover 575,000 procedures annually while the expansions include one for increase volumes at Penn State’s current site and the other to expand to a new site.

The total contract value comes to $1.5 million of which $1.1 million is capital software revenue to be recognised in FY22 and $400,000 in support revenue to be recognised from now until March 2023.

“I am pleased to see continued adoption and growth from our current customers. This is a testament to the value of our products and the strength of our relationships,” CEO Mike Lampron said.

“The Mach7 solution will provide a strong core to Trinity Health’s Unified Clinical Imaging
Platform Strategy, and Penn State has used Mach7 for years to handle large volumes of imaging procedures.”

Mach7 has ended the day a slight 0.68 per cent in the green with shares trading at 74 cents in a $175.1 million market cap.