Pro Medicus Shares Rise Following AU$30 Million Contract with Duly Health and Care

3 min read | December 23, 2024 10:59 AM AEDT | By Team Kalkine Media

Pro Medicus Shares Rise Following AU$30 Million Contract with Duly Health and Care — Image source: shutterstock

Deal Overview

DHC, known for its brands DuPage Medical Group, Quincy Medical Group, and The South Bend Clinic, is the largest independent, multi-specialty, physician-directed medical group in the Midwest. Its network includes over 40 radiologists, 1,000 physicians, and 150 outpatient clinics.

Under the agreement, Pro Medicus will deploy its cloud-engineered Visage 7 Enterprise Imaging Platform, which includes the Visage 7 Open Archive and Visage 7 Workflow modules, across DHC's extensive operations. This unified diagnostic imaging platform will replace DHC’s legacy PACS archive and vendor-neutral archive.

The implementation process is set to begin immediately, leveraging Pro Medicus' proven cloud-based strategy. Full migration to the Visage 7 Open Archive is expected to be completed by the second quarter of 2025.

Strategic Importance

Dr. Sam Hupert, CEO of Pro Medicus, expressed enthusiasm about the deal, emphasizing its significance in the private radiology and outpatient sector. He stated:
"Duly Health and Care is an important deal for us as they are in the private radiology/outpatient space, an area of the market where we are starting to see increased opportunity. They also join a long list of Visage 7 clients to opt for a fully cloud-engineered solution, which, as a result of our CloudPACS strategy, is becoming the standard in the North American healthcare IT market."

Dr. Hupert also highlighted the growing demand for Pro Medicus' full-stack offerings, which include the viewer, workflow, and archive modules. This trend aligns with the company’s strategy to provide comprehensive, cloud-based imaging solutions.

Market Potential

The agreement with DHC marks another milestone in Pro Medicus’ expanding presence in the North American healthcare IT market. The company’s Visage 7 platform is rapidly gaining traction across various market segments, including academic medical centers, integrated delivery networks (IDNs), and private/teleradiology practices.

Dr. Hupert added:
"Our pipeline remains strong and spans all market segments including academic medical centers, IDNs, and the private/teleradiology market. This deal reinforces the growing adoption of our 'full stack' solutions."

Investor Reaction

Investors responded positively to the announcement, with Pro Medicus shares climbing in early trade.

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