Pro Medicus Ltd (ASX: PME) shares are back in favour on Monday after the healthcare imaging software company landed another major US contract.
At the time of writing, the Pro Medicus share price is up 7.19% to $130.89.
Despite today's gain, it has been a painful stretch for shareholders. Pro Medicus shares are still down around 40% in 2026 and 52% over the past year.
Let's take a closer look at the release.
Image source: Getty Images
A $90 million US contract lands
In its ASX release, Pro Medicus said its US subsidiary, Visage Imaging, has signed a 7-year, $90 million contract with Beth Israel Lahey Health.
Beth Israel Lahey Health is a healthcare system based in Boston. It brings together academic medical centres, teaching hospitals, community and specialty hospitals, more than 4,700 physicians, and 39,000 employees.
The network has 14 hospitals serving patients in Eastern Massachusetts and Southern New Hampshire.
Under the contract, Beth Israel Lahey Health will use Pro Medicus' cloud-based Visage 7 Enterprise Imaging Platform.
The deal covers Visage 7 Viewer, Visage 7 Workflow, and Visage 7 Open Archive.
The software will be used to view diagnostic images, manage imaging workflow, and store archived images across the health network.
The company said the rollout will begin immediately, with go-live targeted for the first quarter of calendar year 2027.
Why investors are taking notice
The size of the contract is already significant, but the way it is priced appears to be another reason investors are liking the update.
Pro Medicus said the contract is based on a transactional licensing model, which gives the agreement potential upside if usage grows over time.
It also expands the company's cloud-based footprint in the North American market.
Chief Executive Dr Sam Hupert said:
Beth Israel Lahey Health provides extraordinary, cutting-edge patient care.
They join an ever-growing list of Visage 7 clients to opt for our fully cloud-based platform, which, as a result of our CloudPACS strategy, is becoming the standard in the North American healthcare IT market.
He also noted:
Our pipeline remains strong and spans all market segments. This deal is for our 'full stack' comprising all three core Visage products, namely viewer, workflow and archive, a trend we see continuing.
A senior executive is leaving
The update also comes as The Australian reported that Clayton Hatch will leave the business on 14 August.
Hatch has spent almost 18 years with the company, including a long period as Chief Financial Officer. He has most recently worked as head of business operations and investor relations.
While his departure isn't the main focus of today's share price move, it is still notable given his long history with the company.
