Pro Medicus Secures A$40 Million in U.S. Contract Renewals

About Pro Medicus Limited

Pro Medicus Limited (ASX: PME) is an Australian healthcare technology company specialising in advanced medical imaging software and enterprise informatics solutions. Founded in Melbourne in 1983, the company has evolved into a global provider of radiology information systems, picture archiving and communication systems (PACS), artificial intelligence tools and cloud-based imaging platforms used by hospitals and healthcare networks worldwide.

A major inflection point in the company’s development occurred in 2009 with the acquisition of German imaging technology company Visage Imaging. The acquisition provided Pro Medicus with the technological foundation for its flagship Visage 7 platform, which has since become one of the most widely adopted enterprise imaging solutions among leading healthcare systems, particularly in North America.

Today, Pro Medicus operates globally with offices in Melbourne, Berlin and San Diego, serving major hospitals, radiology groups and health systems across the United States, Europe and Australia. The company has built a reputation for high-performance imaging platforms capable of processing extremely large datasets rapidly while maintaining high clinical accuracy.

In its latest corporate development, Pro Medicus has announced two significant contract renewals in the United States through its wholly owned subsidiary Visage Imaging Inc., with a combined minimum contract value of approximately A$40 million.

Contract Renewals and Value

The largest of the two agreements is a five-year contract renewal with MedStar Health, one of the largest healthcare systems in the Maryland and Washington, D.C. metropolitan region. The renewal has a minimum value of approximately A$31 million and includes continued use of the full suite of Visage 7 enterprise imaging modules.

These modules include the Visage 7 Viewer, the Visage Open Archive platform and the Visage Worklist system, which together form a comprehensive imaging workflow solution for hospitals and radiology departments.

As part of the renewal, MedStar Health will also deploy the Visage 7 Cardiology Imaging module, representing an expansion of the platform into cardiovascular imaging workflows. This addition highlights the company’s strategy of extending its imaging ecosystem beyond traditional radiology into other clinical specialties.

The second contract renewal is a five-year agreement valued at approximately A$9 million with Zwanger-Pesiri Radiology, a large private outpatient radiology provider based in Long Island, New York. The agreement renews the use of the Visage 7 Viewer platform, which supports high-speed diagnostic imaging across Zwanger-Pesiri’s extensive outpatient imaging network.

Both agreements are structured as transaction-based contracts, meaning revenue is linked to imaging volumes processed through the platform. This structure provides Pro Medicus with potential upside should imaging activity increase over the life of the agreements.

Importantly, both renewals were negotiated at higher per-transaction pricing, reflecting the increasing value that healthcare providers place on enterprise imaging infrastructure.

Technology Platform and Competitive Position

The Visage 7 platform has become the core technology driver behind Pro Medicus’ international growth. The system is designed as a fully cloud-native enterprise imaging platform capable of delivering diagnostic images to clinicians in real time, regardless of the size or complexity of the imaging dataset.

Unlike traditional PACS systems that rely heavily on local servers and infrastructure, Visage 7 is designed for deployment in public or private cloud environments. This architecture allows health systems to scale their imaging capacity more efficiently while maintaining rapid image access and advanced clinical tools.

The platform integrates multiple imaging workflows including radiology, cardiology and other imaging-intensive specialties, enabling clinicians to access diagnostic images through a single unified interface. Artificial intelligence tools can also be integrated into the workflow to assist with image interpretation and clinical decision-making.

The scalability and performance advantages of Visage 7 have helped Pro Medicus win contracts with several of the largest healthcare organisations in the United States, including academic medical centres and integrated hospital networks.

Strategic Importance of the MedStar Relationship

The MedStar Health relationship holds particular strategic importance for Pro Medicus. MedStar was the company’s first fully cloud-deployed enterprise imaging customer and has expanded its use of the platform significantly since its initial implementation.

The renewal of the agreement, along with the addition of the cardiology imaging module, demonstrates the depth of the partnership and the increasing role of enterprise imaging platforms in large health systems.

As healthcare organisations continue to digitise clinical workflows and move imaging infrastructure to cloud environments, scalable enterprise imaging solutions are becoming critical to clinical operations.

For Pro Medicus, maintaining long-term relationships with large healthcare networks provides recurring revenue visibility while also strengthening the company’s position as a trusted technology partner.

Long-Term Relationship with Zwanger-Pesiri

The renewal with Zwanger-Pesiri Radiology also reflects the long-standing relationship between the imaging provider and Pro Medicus. Zwanger-Pesiri has used the Visage platform for more than a decade and has now entered its third contract renewal cycle.

The continued use of the Visage Viewer platform across Zwanger-Pesiri’s outpatient imaging centres highlights the importance of fast image delivery and diagnostic workflow optimisation in high-volume radiology practices.

Outpatient imaging providers increasingly rely on high-performance platforms to manage growing imaging volumes while maintaining efficient clinical workflows and patient turnaround times.

Global Market Context

Enterprise imaging technology represents one of the fastest-growing segments of healthcare informatics. The rapid expansion of diagnostic imaging volumes, combined with the transition to cloud-based healthcare infrastructure, has created significant demand for scalable imaging platforms.

Radiology departments are generating increasingly large datasets as imaging modalities such as CT, MRI and advanced cardiovascular imaging produce higher-resolution images. Managing these datasets efficiently requires sophisticated software infrastructure capable of delivering images instantly to clinicians.

In addition, healthcare providers are increasingly integrating artificial intelligence tools into imaging workflows to assist with diagnostic interpretation, triage and clinical decision support.

These trends are driving sustained investment in enterprise imaging platforms across major healthcare systems globally.

Conclusion

Pro Medicus’ latest contract renewals with MedStar Health and Zwanger-Pesiri Radiology reinforce the company’s strong position in the global enterprise imaging market. With a combined minimum value of approximately A$40 million, the agreements provide both revenue visibility and potential upside through transaction-based pricing structures.

The expansion of the MedStar agreement to include cardiology imaging also demonstrates the growing breadth of the Visage 7 platform and its ability to support multiple clinical imaging specialties.

As healthcare systems continue to digitise imaging infrastructure and migrate to cloud-based platforms, Pro Medicus appears well positioned to benefit from long-term growth in enterprise imaging technology. The company’s focus on high-performance, scalable software solutions has enabled it to establish deep relationships with major health systems, particularly in the United States, which remains the largest market for advanced healthcare informatics.