Pro Medicus has secured a long-term contract for $18m with a US based hospital system, replacing legacy picture archiving and communications services (PACS) systems with its full suite of products.
This marks the first major deal that is completely cloud-based. It also allows a showcase of the flexibility in configuration of the company’s systems and products, notes Morgans.
The broker awaits the submission to the FDA for software around calculating breast density (outcome expected before year-end).
The Add rating is maintained and the target price is increased to $35.02 from $33.32.
Sector: Health Care Equipment & Services.
Target price is $35.02.Current Price is $32.15. Difference: $2.87 – (brackets indicate current price is over target). If PME meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
