The Pro Medicus Ltd (ASX: PME) share price is in focus today after the company signed a new five-year, $23 million contract with the University of Maryland Medical System, with its Visage 7 cloud platform to be rolled out across the network.
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What did Pro Medicus report?
- Signed a five-year, $23 million contract with the University of Maryland Medical System (UMMS)
- Contract covers Visage 7 Viewer and Visage 7 Workflow solutions
- Full implementation to be delivered through a cloud-based platform
- Contract uses a transaction-based licensing model, with potential for increased revenue
What else do investors need to know?
The UMMS partnership extends Pro Medicus' reach across multiple prominent health sites in Maryland, including major hospitals and trauma centres. This adds to a growing client list for the company's cloud-based imaging solutions, especially in the North American market.
Implementation of the Visage 7 platform will start immediately, with the target for completion and go-live set for early 2027. The transaction-based model could offer upside for Pro Medicus if usage volumes increase over the contract term.
What's next for Pro Medicus?
With the UMMS rollout planned for early 2027, Pro Medicus will deliver and implement its Visage 7 imaging platform across an extensive network, supporting radiologist efficiency and specialist workflows. Management has highlighted a strong pipeline spanning all market segments.
As cloud-based imaging becomes more widely adopted in healthcare, Pro Medicus aims to remain a leader in providing scalable and efficient solutions for clients in Australia, North America, and beyond.
Pro Medicus share price snapshot
Over the past 12 months, Pro Medicus shares have declined 35%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 16% over the same period.
