Pro Medicus signs $44M in health contracts

• Signs five-year contract renewal with Allegheny Health Network
• Contract renewal to also include Visage 7 Workflow
• Signs seven-year contract with TidalHealth
• Visage 7 platform to be implemented in the cloud

Health imaging company Pro Medicus (ASX:PME) has announced the signing of $44 million in separate contracts.

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First-up the company’s wholly-owned US subsidiary, Visage Imaging, has signed a five-year, $28 million contract renewal with Allegheny Health Network (AHN), including the addition of Visage 7 Workflow.

AHN is one of the largest health networks in the Pittsburgh metro area, providing care to 29 Pennsylvania counties, as well as portions of New York, Ohio and West Virginia.

It is a unified network comprised of 14 hospitals, a total of 2,500 beds and more than 200 primary-care and specialty-care practices in more than 300 clinical locations and offices.

“We are very pleased to have played such a key role in AHN’s growth over the past 10 years,” CEO, Dr Sam Hupert, said.

“AHN has now renewed for a third contract term, reflecting the strength of our long-standing partnership and the value our platform continues to deliver across their organisation.

“This contract brings our total renewals for the financial year to $125M, maintaining our track record of client retention. This underpins our belief that our solution provides unparalleled return on investment from both a financial and a clinical perspective.”

The company also confirmed Visage Imaging has signed a seven-year, $16 million contract with TidalHealth.

TidalHealth provides a unified network of care, including three hospitals serving the communities of Delmarva across Delaware and the eastern shores of Maryland and Virginia.

Dr Hupert said the new Visage contract will be implemented in the cloud and includes the ‘Full Stack’ (Visage 7 Viewer, Visage 7 Workflow and Visage 7 Open Archive) plus Visage 7 Cardiology Imaging.

Planning for the rollout is to commence immediately and will be based on Visage’s proven cloud- based implementation process, with go-live targeted for Q1 in the 2027 calendar year.

“We are very pleased to add TidalHealth to the global family of Visage customers,” said Dr Hupert.

“TidalHealth provides differentiated care across multiple Mid-Atlantic states. They join an ever-growing list of Visage 7 clients to opt for our fully cloud-based platform, which as a result of our CloudPACS strategy, is becoming the standard in the North American healthcare IT market.

“Notably, they have also opted for our cardiology offering, which will provide TidalHealth with a truly unified enterprise imaging solution, a trend we see continuing as more and more healthcare enterprises look to consolidate their disparate imaging systems.”

PME is up 7.89% to $143.28. Mkt cap $13.87B.

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