The Pro Medicus Limited (ASX: PME) share price continued its impressive run on Monday.
The shares of the leading provider of a full range of radiology IT software and services to hospitals, imaging centres, and healthcare groups worldwide closed the day 2.5% higher at $30.57.
At one stage they were up almost 3% to an all-time high of $30.70. When its shares hit this level, it meant they had gained a staggering 170% since the start of the year.
Why did the Pro Medicus share price reach an all-time high?
Investors have been bidding up Pro Medicus shares this year thanks largely to its impressive performance in the first half of FY 2019.
The software company has experienced strong demand for its high-quality offering again this year, leading to it posting a 59.4% increase in half-year revenue to $25.3 million.
Pleasingly, due to the benefits of scale, the company's bottom line performance was even better. It reported an underlying half-year net profit after tax of $9.2 million, which was an increase of 79.9% on the prior corresponding period.
In addition to this, the company's shares were given a boost in April when it announced the signing of a seven-year contract with Duke Health worth $14 million.
Duke Health is the largest health system in the state of North Carolina and one of the most respected health providers in North America.
The contract signed with Duke Health, which is based on a transaction licensing model, will see the company's Visage 7 technology implemented across all of its radiology departments and integrated into its electronic health record.
The release advises that the implementation will span three hospitals and dozens of additional locations across Duke Health, including its flagship 957-bed academic medical centre – Duke University Hospital.
And finally, last month the company was given a further boost when S&P Dow Jones Indices added its shares to the S&P/ASX All Australian 200 Index.
Investors appear to see this as a precursor to its shares being added to the benchmark S&P/ASX 200 index possibly as soon as the next rebalance.
Pro Medicus wasn't the only company reaching an all-time high on Monday Also reaching this milestone was the Appen Ltd (ASX: APX) share price and the Xero Limited (ASX: XRO) share price.
