The Pro Medicus Ltd (ASX: PME) share price is in focus today after the company announced a significant seven-year, A$90 million contract with Boston-based Beth Israel Lahey Health to deliver its full stack imaging platform via the cloud.
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What did Pro Medicus report?
- Signed a 7-year, A$90 million contract with Beth Israel Lahey Health
- Full stack contract includes Visage 7 Viewer, Workflow, and Open Archive
- Platform to be delivered via cloud-based implementation
- Contract uses a transaction-based licensing model, offering potential upside
- Go-live rollout targeted for Q1 2027
What else do investors need to know?
Pro Medicus continues to grow its presence in North America, with Beth Israel Lahey Health—covering 14 hospitals and over 39,000 staff—joining an expanding list of clients. The contract covers the migration of existing imaging archives and integration with electronic health records, showing demand for Pro Medicus' cloud solutions.
The company highlighted its proven cloud-based rollout process, which will commence immediately. This aligns with their broader CloudPACS strategy, aimed at setting industry standards in healthcare imaging IT.
What's next for Pro Medicus?
The company is focused on the immediate planning and subsequent rollout of its Visage 7 cloud platform at Beth Israel Lahey Health, aiming for a Q1 2027 go-live. Pro Medicus also noted a strong pipeline, with ongoing growth across all market segments and increasing demand for its full suite of imaging products.
Looking longer term, management sees a clear trend toward health providers adopting comprehensive, cloud-based imaging solutions, positioning Pro Medicus for future opportunities.
Pro Medicus share price snapshot
Over the past 12 months, Pro Medicus shares have declined 56%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 4% over the same period.
