The Pro Medicus Limited (ASX: PME) share price continued its strong run on Tuesday and reached an all-time high.
At one stage its shares were as much as 9.9% higher at $7.98 before finishing the day a solid 7.5% higher at $7.80.
Why are its shares on fire?
Investors have been fighting to get hold of shares of the healthcare imaging company since a major announcement a couple of weeks ago.
According to that release, Pro Medicus has signed a seven-year deal with Yale New Haven Health that will see the Visage 7 technology implemented across all of its radiology departments.
Management estimates that the deal will be worth over $18 million to the company over the seven years.
This, it seems, has gone some way to convincing investors that its shares are worthy of the significant premium they trade at today.
Fellow fast-growing healthcare company Nanosonics Ltd. (ASX: NAN) also finished the day higher on Tuesday.
