The Mach7 Technologies Ltd (ASX: M7T) share price has had a sensational start to the week.
In afternoon trade the enterprise imaging IT solutions provider's shares are up 58% to 19 cents.
What happened?
This morning Mach7 advised that it has been awarded a minimum three-year software licence agreement with US-based radiology group Radiology Associates.
The agreement is for Mach7's entire suite of enterprise imaging solutions and is expected to be worth at least A$1.8 million.
According to the release, Radiology Associates selected Mach7 after a thorough vetting process involving 20 different enterprise imaging and PACS vendors.
It appears as though Radiology Associates was attracted to the platform's vendor neutrality and ability to scale.
Today's gain will be a welcome relief to its shareholders. Even after today's gain, Mach7's shares are down a disappointing 50% since the turn of the year.