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More Growth As Pro Medicus Limited (ASX:PME) Wins German $3m Deal

Pro Medicus Limited (ASX: PME) has announced that it has won a $3 million contract extension with a German Government Hospital network.

Pro Medicus is a Melbourne-based software owner and developer, licensing products to large US hospitals and Australian radiology clinics. The company has offices in Richmond, Victoria, Berlin, Germany and in the United States.

Pro Medicus’ German Win

Pro Medicus announced this morning that a large German Government Hospital network has extended its use of Pro Medicus’ Visage 7 technology, which includes additional licences for the existing site and an additional two satellite hospitals.

For Pro Medicus, it will mean a capital sale with an upfront license value of more than $3 million. This project is based on a capital purchase model, the $3 million excludes ongoing service contracts.

Pro Medicus CEO Dr Sam Hupert spoke to the benefits of this contract saying, “This will provide us with our first large, multi-facility reference site in Europe which we see as instrumental to building the base for further sales in the region.”

The Visage 7 and Visage Open Archive software is planned to go live before the end of December 2018.

Visage Chief Technology Officer Dr Malte Westerhoff said: “Existing customers expanding their use of our offering is the best validation of the strength of our technology and of our customer service.”

What Now?

The Pro Medicus share price is down 2%, likely due to the US market falling on Friday.

However, over the past year, Pro Medicus shares are up 26.6% and I think it could be one to watch as it grows its international earnings base. Some of the other small-cap ASX shares in our free report (see below) are also delivering rapid growth.

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