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Market Chatter: Pro Medicus' New Contracts Dispel Fears Over AI Competition, RBC Capital Markets Says

Pro Medicus' (ASX:PME) two recent contract awards in the US will help discredit fears of competitors in the artificial intelligence space eroding long-term demand, RBC Capital Markets said in a note, the Australian Financial Review reported Monday.The company disclosed that US subsidiary Visage Imaging renewed its partnership with Allegheny Health Network through a five-year contract valued at around AU$28 million, and also signed a seven-year contract with TidalHealth valued at AU$16 million.The contracts show that customers remain committed to longer term deals as opposed to shorter agreements that would maintain flexibility for AI-native alternatives, RBC analyst Jackson Lee said, according to the report.The awards also add to traction seen in the company's cloud imaging platform and transaction-based revenue model, RBC reportedly said.The investment firm kept a sector perform rating on Pro Medicus with a share price target of AU$195, AFR reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:PME
Asia

Pro Medicus Signs AU$16 Million Contract With US Healthcare Network TidalHealth

Pro Medicus (ASX:PME) said its Visage Imaging unit in the US signed a seven-year, AU$16 million contract with healthcare network TidalHealth, according to a Monday filing with the Australian bourse.The new contract will be implemented in the cloud and includes Visage Imaging's full stack of software plus the Visage 7 cardiology imaging product.Planning for the rollout will start immediately, with a target to go live in the first quarter of 2027 on a transaction-based model, the company said.

ASX:PME
Asia

Pro Medicus Unit Renews AU$28 Million Deal With Allegheny Health Network

Pro Medicus' (ASX:PME) US subsidiary Visage Imaging has renewed its partnership with Allegheny Health Network (AHN) through a five-year contract valued at around AU$28 million, according to a Monday filing with the Australian bourse.The agreement also broadens AHN's use of Visage technology by incorporating Visage 7 workflow, per the filing.AHN operates an integrated network of 14 hospitals, around 2,500 beds, and over 200 primary and specialty care practices across more than 300 clinical sites, the filing added.

ASX:PME
Asia

Pro Medicus Unit Secures AU$90 Million Deal With Beth Israel Lahey Health; Shares Up 7%

Pro Medicus' (ASX:PME) US subsidiary Visage Imaging signed a seven-year, AU$90 million contract with Beth Israel Lahey Health to deploy its cloud-based Visage 7 platform across the health system, according to a Monday filing with the Australian bourse.The company will also complete the migration from Beth Israel Lahey Health's legacy picture archiving and communication system archives to the Visage 7 open archive and enable enterprise-wide distribution of imaging integrated with the organization's electronic health record, per the filing.The planning for the rollout will start immediately, following Visage's proven cloud-based implementation process, with go-live targeted for the first quarter of 2027, the filing added.The company's shares rose 7% in recent Monday trade.

ASX:PME
Asia

Artrya Appoints CFO

Artrya (ASX:AYA) appointed Clayton Hatch as chief financial officer, effective Sept. 1, according to a Monday filing with the Australian bourse.Hatch most recently served as chief financial officer of Pro Medicus (ASX:PME), per the filing.Richard Jarvis will remain interim CFO during the transition to ensure an orderly handover, the filing added.

ASX:AYAASX:PME
Asia

Pro Medicus Unit Secures AU$37 Million Contract Renewal With Illinois Health System

Pro Medicus' (ASX:PME) Visage Imaging subsidiary signed a five-year contract renewal worth AU$37 million with Northwestern Medicine, an academic health system based in Illinois, according to a Monday filing with the Australian bourse.

ASX:PME
Asia

ASX Preview: Australian Shares Set to Open Lower as US Announces Iran Blockade; Monash IVF Receives Revised Takeover Proposal

Australian shares are set to open lower on Monday after US President Donald Trump said that the US would begin a blockade of the Strait of Hormuz after peace talks between Iran and the US ended without a resolution to the conflict, sending oil prices higher.A report from The Wall Street ​Journal said that Trump and his ​advisers were considering limited ⁠strikes on Iran. Brent crude oil futures soared nearly 8% to a four-week high of $US102.80 per barrel early on Monday. Gold fell almost 2%.In corporate news, Monash IVF Group (ASX:MVF) received a revised, unsolicited, conditional, and non-binding indicative proposal from a consortium comprising Genesis Capital Investment Management and WHSP Holdings (ASX:SOL) to acquire 100% of the shares in Monash IVF via a scheme of arrangement at $0.90 per share.Pro Medicus' (ASX: PME) wholly-owned US unit, Visage Imaging, signed a AU$37 million, five-year contract renewal with Northwestern Medicine.Australia's benchmark index closed just 0.1% lower, or 12.6 points, at 8,960.60 on April 10.

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