Pro Medicus shares lift on $53m BayCare contract
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The news: Pro Medicus shares gained in early trading on the ASX after the medical imaging provider signed a $53 million contract with Florida-based health care system BayCare.
The numbers: Pro Medicus shares were up 1.9% to $274.99 by 10:35am AEDT, having surged more than 150% over the last 12 months.
The context: The seven-year contract, signed by the company's US subsidiary Visage Imaging, will see its cloud-based Visage 7 Enterprise Imaging Platform implemented throughout BayCare's services at 16 hospitals, as well as other locations.
Planning for the rollout will begin immediately, with go-live targeted for late Q3 or Q4 of the 2025 calendar year.
Melbourne-based Pro Medicus provides medical imaging software and services to hospitals, imaging centres and healthcare groups globally.
The company also recently signed deals to roll out its Visage products with the University of Kentucky, Duke University, and US medical group Duly Health.
What they said: "BayCare joins our rapidly growing list of integrated delivery network (IDN) clients," said Pro Medicus CEO Sam Hupert.
"They also join the 70% of all Visage 7 North American clients to opt for a cloud-based solution, which, as a result of our CloudPACS strategy, is becoming the standard in the North American healthcare IT market."
The source: ASX announcement
