Pro Medicus shares lift on $29m US contracts win
Make us a preferred source
Make us a preferred source on Google
More news: Medical imaging software company Pro Medicus’ share price lifted in morning trade after securing three US contracts collectively worth a minimum of $29 million.
At 10:55am AEDT, shares in Pro Medicus had lifted 3.5% to $260.20, ahead of the broader healthcare sector, which had lifted 1.7%.
RBC Capital Markets analyst Garry Sherriff said the company’s “contract win cadence appears to be back” and said it is positive that “management continues to see solid pipeline of opportunities”.
What they said: “PME remains a high quality, organic growth play with globally leading margins, with strong CFs, net cash balance sheet, founder led and highly aligned,” Sherriff said.
Pro Medicus inks three US contracts with worth $29m
The news: Medical imaging provider Pro Medicus has signed three new customer contracts in the US, worth a combined minimum value of $29 million.
The numbers: The group's US subsidiary Visage Imaging sealed a $6.5 million contract with paediatric hospital Children's of Alabama; a $9.5 million contract with cancer research and treatment facility Roswell Park Comprehensive Cancer Center; and a $13 million contract with regional healthcare provider Vancouver Clinic.
The contracts, which range from five to seven-year terms, bring Pro Medicus' minimum total contract value for the first half of FY26 to $273 million.
The context: Pro Medicus CEO Sam Hupert said the diversity of the new clients reinforces the company's belief that its cloud-based imaging solutions are "ideally suited to virtually all segments of the market, from smaller groups all the way through to some of the largest [Integrated Delivery Networks] and academic medical centers in the US".
The sources: ASX, RBC Capital Markets research
