The contract – signed by PME’s US-based subsidiary Visage Imaging, Inc – is based on a transactional licensing model, and involves the implementation of Visage 7 Viewer, Visage 7 Workflow and Visage 7 Open Archive, across the UI Health Care system.

Additionally, UI Health Care’s migration from its legacy PACS archive to the Visage Open Archive will also be completed by Visage, with Visage 7 also providing enterprise distribution of images integrated to UI Health Care’s electronic health record (EHR).

The go-live of the new system is targeted for the fourth quarter of 2025, and work on this will begin immediately, based on Visage’s cloud-based implementation process.

Pro Medicus CEO DR Sam Hupert said the rollout of Visage 7 would be a boost to the UI Health Care’s system, which includes 3 patient campuses and nearly 20,000 staff members – with more than 1,200 staff physicians and dentists, nearly 800 resident and fellow physicians, and over 5,300 nursing staff.

“University of Iowa Health Care is a highly respected healthcare institution that takes great pride in the comprehensive care they deliver to all Iowans,” he said.

“They join a long list of Visage 7 clients to opt for a fully cloud-based solution, which, as a result of our CloudPACS strategy, is becoming the standard in the North American healthcare IT market.”

Pro Medicus shares have risen since the news, and at 10:58 AEST, they were trading at $247.40 – a rise of 4.4.31% since the market opened.

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The agreement – signed between the university and Pro Medicus’ U.S. subsidiary Visage Imaging, Inc. – will provide a framework through which the two parties will collaborate on the development and commercialisation of the platform, looking specifically into its artificial intelligence capabilities.

It will also build on a relationship already established with UCSF through an existing agreement related to Pro Medicus’ Visage 7 Viewer product.

Visage Imaging Global CTO Malte Westerhoff said the partnership around Visage AI Accelerator was a very important milestone.

“Our AI Accelerator program was designed to closely align Visage’s engineering and product development capability with clinical research partners such as UCSF who have a depth of clinical knowledge and extensive research expertise,” he said.

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Mr Westerhoff continued: “It provides a unique set of tools for data de-identification, collection, curation, analysis and ‘path-to-production’ in research projects bringing the efficiency and speed of Visage technology to research, resulting in a unified link between the two domains.”

PME shares last traded at $210.32 – a fall of 1.22% since the market opened.

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The contract – based on a transactional licensing model – was signed between LucidHealth and Pro Medicus’ wholly owned U.S. subsidiary Visage Imaging Inc; the Visage platform roll out is to commence immediately through its cloud-based implementation, followed by a phased ‘go live’ as early as 2025’s third quarter.

CEO Dr Sam Hupert said LucidHealth, which employs more than 300 radiologists across 140 care sites, would be an important addition to Pro Medicus’ client list.

“Their needs, which include subspecialized onsite and remote reading/teleradiology capabilities, are uniquely catered for by our proprietary server-side streamingtechnology reinforcing our view that Visage 7 is ideally positioned to address this market and the other key market segments we service, which include academic medical centers, IDNs and outpatient clinics,” he said.

Pro Medicus has been trading at $253.25 through Monday.

Join the discussion: See what HotCopper users are saying about Pro Medicus and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.