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Why has Pro Medicus hit an all-time high?

The $4 billion health imaging company, Pro Medicus has scaled to a new all-time high of $42.40 after in penned one of the company's biggest deals in its history worth $40 million, last Thursday.


The company's wholly-owned U.S. subsidiary, Visage Imaging, signed a 7-year contract with Salt Lake City based Intermountain Healthcare, the largest health system in the State of Utah.


Intermountain also provides medical services in the states of Idaho and Nevada making it the largest healthcare provider in the Intermountain West region.


The contract, based on a transactional licensing model, will see the company’s Visage 7 Viewer and Visage 7 Open Archive products implemented across all of Intermountain’s radiology and subspecialty imaging departments.


The implementation will be fully deployed on Google Cloud Platform, leveraging Visage’s native, cloud-engineered enterprise imaging technology.


Planning for the rollout is to begin in Q3 FY21, with data migration commencing immediately by Visage’s engineering team. The first sites will be scheduled to go-live shortly thereafter.


“This is a very important deal for us, not only because of its size and scope, it will provide us with a material footprint in Intermountain West, previously an untapped region for us,” said Dr Sam Hupert, Pro Medicus CEO.


“This is our fifth major contract win in six months. We believe this validates our belief that we have unique, market-leading technology which, coupled with our expanded product portfolio and native cloud capability, has significantly increased our total addressable market in our key jurisdictions of North America, Europe and Australia.”