Pro Medicus lands notable contract

Pro Medicus (ASX:PME) has announced a significant contract with Duke University Health System. The deal, valued at AUD $15 million, spans five years. It involves deploying the Visage 7 Open Archive system, enhancing an existing platform. The existing contract is now extended to 2029.

Pro Medicus contract overview

Pro Medicus has secured a five-year contract worth AUD $15 million with Duke University Health System. This contract enhances their existing partnership by integrating the Visage 7 Open Archive system, transitioning Duke's system to a cloud-based setup. The existing Visage 7 Viewer contract is extended until 2029. This strategic move highlights Pro Medicus's expansion into North American academic institutions and aligns with the industry's shift towards cloud solutions. The company's goals include broadening their product offerings and capitalizing on the transaction-based licensing model to potentially increase revenue based on usage.

Executive insights on new contract

This transaction is a significant step in expanding our footprint in North America, particularly among leading academic institutions. It also reflects the broader industry trend towards adopting cloud-based solutions, offering scalable options for our clients.