Shares in PRO MEDICUS LIMITED (ASX:PME) surged 8.2% before lunch to a record high of A$308.49 following the announcement of two major contract wins by its wholly owned US subsidiary, Visage Imaging.
The company has signed a A$170 million, 10-year deal with UCHealth, one of the leading health systems in Colorado, and renewed a five-year A$20 million agreement with Louisiana-based Franciscan Missionaries of Our Lady Health System (FMOLHS).
The new UCHealth contract will contribute approximately A$1.7 million to Pro Medicus’ minimum annualised contract revenue, according to Reserve Bank of Australia analyst Garry Sherriff. Meanwhile, the FMOLHS renewal also introduces cloud-based imaging solutions, further reinforcing the company’s growing foothold in cloud-based enterprise imaging.
Chief executive officer Sam Hupert said the UCHealth deal reflects growing adoption of Visage’s fully cloud-based solutions, particularly among large-scale health systems aiming to consolidate imaging platforms.
“UCHealth is a very highly regarded health system... They join an ever-growing list of Visage 7 clients to opt for our fully cloud-based solution, which... is becoming the standard in the North American healthcare IT market,” Hupert said.
He also noted increased interest in Visage’s integrated “full stack” offering — viewer, workflow and archive — with optional expansion into cardiology and other ologies, citing a strong pipeline across market segments.
UCHealth signs 10-year A$170 million deal for full Visage 7 platform
Visage Imaging has secured a decade-long contract with UCHealth, which operates 14 hospitals across Colorado, Wyoming and western Nebraska.
Valued at A$170 million, the agreement will see the deployment of the Visage 7 Enterprise Imaging Platform — including Visage 7 Viewer, Workflow, Open Archive and Cardiology Imaging — across the entire health network.
The contract, which follows a transactional licensing model, also includes migration of UCHealth’s existing picture archiving and communication system (PACS) to Visage 7 Open Archive and integration with UCHealth’s electronic health record (EHR). Implementation planning is set to begin immediately, with go-live scheduled for the second quarter of the 2026 calendar year.
Pro Medicus sees strategic gains from FMOLHS renewal and archive upsell
In addition to the UCHealth win, Visage Imaging has renewed and expanded its relationship with FMOLHS under a five-year, A$20 million agreement. The deal includes a renewed Visage 7 Viewer licence at higher per-transaction rates, and a new transaction-based contract for Visage 7 Open Archive.
As part of the rollout, FMOLHS’s current on-premise system will transition to the cloud, with both Visage 7 Viewer and Archive hosted off-site. Pro Medicus views this as a strategic opportunity to upsell cloud-based archive services to existing “viewer only” customers, many of whom still operate on-premise.