Pro Medicus signs 5-year platform deal with Palo Alto based Nines

MELBOURNE: Pro Medicus Limited’s wholly-owned U.S. subsidiary, Visage Imaging, Inc., has signed a 5-year, multi-million dollar contract with Palo Alto based Nines.

Nines is co-founded by CEO David Stavens PhD, a highly respected Silicon Valley inventor/entrepreneur, and CMO Alexander Kagen, MD the Site Chair of Radiology at Mount Sinai’s West and St. Luke’s Hospitals in New York City.

The offering, based on Visage 7 technology, will be hosted in Google Cloud Platform and will provide Nines with an immensely scalable and highly optimised platform.

“This is an extremely exciting opportunity for us,” said Pro Medicus CEO Dr Sam Hupert. “The team behind Nines are incredibly well known and respected in machine learning, AI, and radiology circles. Partnering with them will allow us to support their efforts to develop future products with our highly optimised Visage 7 cloud-based solution for on-demand reads.”

The five-year contract is based on committed exam volumes that step up year-on-year aligning with projected growth of the Nines offering in the market. This will result in base revenue to Pro Medicus in excess of AUD 6 million over the life of the contract with the potential for significant upside.

Implementation will begin in the next few weeks with go live anticipated in early Q2 of the 2020 calendar year.

“Leading healthcare institutions expect high-quality radiology reports 24/7. Visage and Nines are collaborating on a modern cloud-based service with an eye toward exceeding those expectations,” said David Stavens, CEO and co-founder of Nines. “Radiologists face increasingly complex workloads. At Nines we aim to provide the best technology to help radiologists diagnose efficiently while prioritizing their time for the patients who need it most. Nines selected Visage for its tech-focused leadership and we’re excited to offer Visage 7 as part of our scalable solution.”

Dr Hupert continued, “This deal further validates our belief that our product can address a large percentage of the total addressable market in North America, ranging from smaller radiology partnerships through to some of the world’s largest, most sophisticated healthcare institutions and now our partnership with Nines is the next step in developing future services for high-quality remote reading/teleradiology.”

Edited by Nayyar Iqbal