Pro Medicus secures $23M University of Maryland contract

Pro Medicus (ASX:PME) announced an expansion of its North American footprint, securing a five-year, $23 million contract with the University of Maryland Medical System.

The agreement, executed through Pro Medicus' wholly-owned subsidiary Visage Imaging, marks a pivotal shift for the healthcare network as it transitions to a unified, cloud-based enterprise imaging strategy.

Under the terms of the deal, UMMS will implement the full Visage 7 Enterprise Imaging Platform, including the Visage 7 Viewer and Visage 7 Workflow.

The implementation will provide a single, streamlined diagnostic interpretation interface across the entire UMMS network, which encompasses renowned institutions such as the University of Maryland Medical Centre and the R Adams Cowley Shock Trauma Centre.

The transition to a cloud-native architecture is expected to enhance operational efficiency and diagnostic speed across the system’s diverse clinical sites.

The contract is built upon a transaction-based licensing model, offering Pro Medicus potential revenue upside as diagnostic volumes scale.

Rollout planning is scheduled to commence immediately, leveraging Visage’s established cloud implementation protocols to ensure a seamless transition.

The medical system anticipates a full "go-live" in early 2027.

At the time of reporting, Pro Medicus’ share price was $132.12.