The deal will translate into roughly $20m a year in earnings. Nice.
Healthcare informatics firm Pro Medicus has announced that its US subsidiary, Visage Imaging has signed a $330 million, 10-year contract with Trinity Health, one of the largest not-for-profit healthcare systems in the US.
Trinity Health comprises 93 hospitals, 107 continuing care locations, and 142 urgent care locations across 26 states, with more than 127,000 employees, including 9300 physicians and clinicians, as well as 29,000 affiliated physicians and clinicians.
The contract will see the company’s cloud-based Visage 7 enterprise imaging platform, including Visage 7 Open Archive and Visage 7 Workflow modules, implemented throughout Trinity to provide a unified diagnostic imaging platform.
Visage will complete the migration from Trinity Health’s legacy PACS system comprising nine vendors, to Visage 7 Open Archive. Visage 7 will also provide enterprise distribution of images integrated to Trinity Health’s electronic health record.
Planning for the rollout is to commence immediately and will be based on Visage’s proven cloud-based implementation process, with multi-phased “go-lives” targeted to begin in early Q3 of 2025.
“Trinity Health is our largest customer to date and the first with a national footprint,” said Dr Sam Hupert, the CEO of Pro Medicus CEO.
“Our initiative with Trinity Health is noteworthy for its scope and scale which will see the Visage 7 platform used by over 650 radiologists and thousands of clinicians who will benefit from the proven differentiation of Visage 7.
“Our pipeline remains strong and spans all market segments,” said Dr Hupert.
“As has been the case with many of our recent contracts, this deal is for our ‘full-stack’ comprising all three core Visage products, a trend we see continuing.”
The Australian Financial Review said the $330 million deal would translate into about $20 million a year in earnings.
“Pro Medicus shares jumped 8.7% to $248.18 on the news or $2.1 billion in market capitalisation terms,” said the AFR.