Pro Medicus : PME Signs A$25M – 7 Year Contract with NYU Langone Health

11 September 2020; Company Announcement NYU Sept 2020 - Acrobat pdf 118k

Highlights

• PME signs 7-year, A$25M deal with NYU Langone Health
• NYU Langone ranked in the 10 best hospitals by U.S. News & World Report 2020- 2021
• Tier 1 academic institution which includes the renowned NYU Grossman School of Medicine
• Visage technology to be deployed throughout NYU's imaging departments replacing systems from legacy vendors
• Extends PME's footprint in the tier 1 U.S. academic hospital segment
• Transaction-based model with potential upside

Leading health imaging company Pro Medicus Limited [ASX: PME] today announced its wholly-owned U.S. subsidiary, Visage Imaging, Inc., has signed a 7-year contract with NYU Langone Health (NYU Langone), one of the largest health systems in the state of New York and one of the most respected and innovative healthcare institutions in North America.

The contract, based on a transaction-based licensing model, will see the company's Visage 7 technology implemented across all of NYU Langone's radiology and subspecialty imaging departments, including breast imaging, replacing all existing legacy PACS with a single centralized instance of the Visage 7 Enterprise Imaging Platform.

The implementation will span 6 hospitals and numerous additional locations across the NYU Langone healthcare network. Planning for the rollout is to commence in Q2 FY21, with the first sites scheduled to go-live in Q3 FY21.

'NYU Langone completed a thorough selection process that required the final round of vendors to perform extensive on-site pilots. This enabled NYU to assess the differences between systems and, importantly, do so in their production environment, which is the ultimate test of how a product will perform,' said Dr Sam Hupert, Pro Medicus CEO. 'Winning this deal further validates our belief that we have a unique and highly differentiated offering. We stream the pixel data, unlike others who still compress-and-send the images.'

'We look forward to our new partnership with Visage as we implement their technology across our network,' said Dr Michael Recht, the Louis Marx Professor and Chair of the Department of Radiology at NYU Langone. 'We are confident that this decision will lead to further expansion of our services and improved quality outcomes for those who turn to us for assistance.'

NYU Langone is also home to the renowned NYU Grossman School of Medicine, ranked in the top 5 medical schools in the U.S.

Dr Hupert continued, 'NYU Langone is a very significant addition to our rapidly growing North American footprint. More than any other PACS vendor, we now have 7 of the top 20 ranked U.S. hospitals standardising on our technology and are looking to grow that further across additional market segments. We believe the network effect of this and other recent wins positions us well to increase our lead in this highly competitive market.'

Authorised by the Board of Pro Medicus Limited.