Slide 1: Half Year Results FY 2024
Half Year Results FY 2024 LG VISAGE IMAGING’
Slide 2: Pro Medicus (ASX:PME)
PRO MEDICUS (ASX:PME) Healthcare IT company specializing in Enterprise Imaging and Radiology Information System (RIS) software. Leading edge products, growing global presence. EU HQ/R&D Berlin GmbH U.S. HQ San Diego CA GROUP HQ Melbourne AUS OVER 40+ SOFTWARE ENGINEERS 2
Slide 3: Product Suite
ASX:PME VISAGE RIS VISAGE 7 OEM PRODUCT SUITE 3
Slide 4: HY 2024 – Results
HY 2024 – Results • Record half • Four contract wins in North America with cumulative TCV > than $200M (at minimums) • Completed 4 major implementations • RSNA 2023 the busiest to date • Progress with other ologies and AI • Forms the base for stronger 2nd half and beyond 4
Slide 5: Results HY 2024
RESULTS HY 2024 $74.1M $36.3M $48.9M 66.0% Revenue Profit Underlying EBIT up 30.3% after tax Profit margins up 33.3% Before Tax up 31.5% $131.5M $0.18 Cash Company Strong Interim & debt balance dividend FF Investments free sheet Up 38.5% up 8.3%
Slide 6: HY 2024 Revenue Split
HY 2024 REVENUE SPLIT $80,000,000 1H v 2H revenue split Exam/licence revenue*** Support/baseline revenue*** Capital revenue Professional Services*** Archive data migration ***Recurring revenue $2,899,000 $70,000,000 $3,823,164 $1,561,000 $4,911,608 $11,026,619 $60,000,000 $498,000 $9,999,017 $3,348,
Slide 7: Highlights HY 2024
HIGHLIGHTS Continues to grow HY 2024 STRONGLY CURRENT PIPELINE $24M/7 years $140M/10 years $16M/8 years $20M/8 years New Contract New Contract New Contract New Contract Four Implementations JULY SEPTEMBER OCTOBER NOVEMBER NOVEMBER - 1st Half FY2023 2023 2023 2023 2023 DECEMBER 2023 7
Slide 8: Operational (Transaction) Model
OPERATONAL (TRANSACTION) MODEL • Used in vast majority of US contracts • Delivered as SaaS model • Used in RIS contracts in AUS • Model based on transaction minimums • Forward revenue > A$608M/5 years* • Upside as client examination volumes grow • Annuity style revenue stream – greater predictabilit
Slide 9: Operating Leverage
OPERATING LEVERAGE • Highly scalable offering • SW only model • Training & Installation – charged as professional services • Contained cost base • Margin continues to grow as footprint increases 9
Slide 10: In Review: 2023/2024 Top Hospitals
In Review 2023/2024 Top Hospitals (alphabetical order) 10
Slide 11: Increasing footprint in the IDN space
Increasing footprint in the IDN space • IDNs represent the largest segment of the market • Existing large IDN clients – Mercy, Sutter Health, Intermountain, Medstar. • Momentum increasing with 6 sales to IDN’s in the last 18 months • All sales for more than one Visage product • All six opportunities
Slide 12: Visage RIS
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Slide 13: Visage RIS
VISAGE RIS • Long term (5 year) contracts with Lumus (Primary Healthcare) and I–MED, the 2 biggest radiology providers in AUS • Lumus rollout now complete • Upside via organic and M&A growth (I-MED) • Increased market interest – new opportunities • PME undisputed market leader
Slide 14: Visage 7.0
Visage 7.0 Continues to be #1 in Speed, Functionality and Scalability. SPEED FUNCTIONALITY SCALABILITY
Slide 15: Massive Data Explosion
MASSIVE DATA EXPLOSION • High density Multi-slice CT - 10,000+ images • HD Breast Tomosynthesis - 6 GB+ • Optoacoustic breast ultrasound - 10+ GB • Total Body PET Scan - 10+ GB • 7T MRI - much larger than 3T
Slide 16: Legacy Technology
LEGACY TECHNOLOGY “Compress and Send” MODALITIES PACS RADIOLOGIST/CLINICIAN
Slide 17: Solution: Visage Streaming Technology
SOLUTION: VISAGE 7 Streaming Technology BACKEND RENDER SERVER SERVER RADIOLOGIST/CLINICIAN MODALITIES
Slide 18: Solution: Visage Streaming Technology
SOLUTION: Visage 7 Streaming Technology
Slide 19: Memorial Sloan Kettering Cancer Center
MEMORIAL SLOAN KETTERING CANCER CENTER • 7-year, $24M transaction-based contract • Top two cancer hospital in North America • “Full Stack” – Viewer, Worklist & Archive • To be fully Cloud deployed • Rollout scheduled to be completed 2nd half 2024 • Increases PME’s footprint in the Tier 1 academic sp
Slide 20: Baylor Scott & White Health
BAYLOR SCOTT & WHITE HEALTH • Largest PME deal to date • 10-year, $140M transaction-based contract • “Full Stack” – Viewer, Worklist & Archive • Largest not for profit health system in Texas • To be fully cloud deployed • Rollout to commence in first half 2024 • Mixture of both academic and IDN 20
Slide 21: South Shore Health
SOUTH SHORE HEALTH • 8-year, $16M transaction-based contract • Regional IDN based in Southern Massachusetts • “Full Stack” – Viewer, Worklist & Archive • Fully cloud deployed – 2nd half 2024 • Increases PME’s footprint in the mid-sized IDN market 21
Slide 22: OHSU
OHSU • 8 year, $20M transaction-based contract • Preeminent academic medical center in Oregon • “Full Stack” – Viewer, Worklist & Archive • Fully cloud deployed – 2nd half 2024 • Increases PME’s rapidly growing footprint in AMC market 22
Slide 23: Fast Track Implementation
FAST TRACK IMPLEMENTATION • All implementations on or ahead of schedule • Fast track methodology continues to deliver • Large scale projects completed well under 1/4 the time of industry norm • Delivers huge savings for client • Frees PME staff for other jobs • Reduces barrier to change • New highly
Slide 24: Visage – Proven ROI
VISAGE – PROVEN ROI Significant IT & Unparalleled Greater Clinical Infrastructure Increase in Accuracy Savings Radiologist Efficiency Improved Physician Delivers Superior Engagement Value Proposition 24
Slide 25: Clinical Outcomes: Moving the Needle
Clinical Outcomes Moving the Needle 25
Slide 26: Moving the Needle
Mariam Aboian, MD, PhD Assistant Professor Radiology & Biomedical “PACS is our clinical world for Radiologists. Engineering “This is what AI based segmentation of Yale School of Medicine Incorporation of AI into PACS, gives us gliomas in PACS looks like! Advanced clinical value.” image processing at
Slide 27: Patient Engagement - Video Reports
Patient Engagement - Video Reports NYU Langone Health Department of Radiology @NYUImaging Your Radiologist Is the Most Important Doctor You’ve Never Met—Until Now #radiology @nyulangone Debuts the First Video Radiology Reports in a U.S. Hospital to Help Patients Understand the Results of Their Imagi
Slide 28: Pro Medicus & Visage Imaging
prosmedicus & yeoneoey soca Visace IMAGING:
Slide 29: Growth Strategy
GROWTH STRATEGY New product offerings Transaction Extend to new growth from geographical existing clients markets Leverage R&D Expand footprint capability to – new clients introduce next generation products 29
Slide 30: North American Pipeline
NORTH AMERICAN PIPELINE Prospects Progressing Network Effect through various stages of the cycle Opportunities Further increased as a result of recent high-profile wins in both Tier 1 Increased number academic and IDN Pipeline Robust of inbound RFPs markets In terms of quality and quantity of opport
Slide 31: Visage 7 Open Archive
VISAGE 7 OPEN ARCHIVE • Same highly scalable Visage 7 platform • Interoperable – works in complex environments • Enables choice of modular or single vendor solutions • Visage 7 Open Archive integral part of “Full Stack” solution • Pipeline includes Visage 7 Open Archive opportunities • Key component
Slide 32: Visage 7 Workflow
VISAGE 7 WORKFLOW • Adds to Visage 7 Viewer and Open Archive modules • Based on over 30 years experience in Worklist SW • Allows PME to offer “full stack” solution • Integral part of Visage in the Cloud SaaS solution • Ability to interface with broad range of AI algorithms • Sold in 6 out of the las
Slide 33: Visage CloudPACS
Visage CloudPACS • Visage 7 – fully Cloud native • Same ultrafast performance as on-premise • Full Visage 7 functionality • Security and scale of the cloud • Complete PACS deployment or as backup/disaster recovery • Suitable for all size implementations 33
Slide 34: Visage CloudPACS
Visage CloudPACS • Unprecedented industry swing to Cloud • Last ten out of ten sales have been CloudPACS • Majority of pipeline mandating Cloud deployment. • Cloud vendor agnostic - large scale implementations in all 3 cloud vendors - AWS, Azure and Google GCP • Significant strategic advantage over
Slide 35: New Products
NEW PRODUCTS • Single viewer for ALL images in the medical record (EMR) • Radiology/Cardiology (DICOM format) • Non-radiology– reflected light – hi-res photos & videos • Visage 7 technology ideally suited • Increases Visage value proposition • Growth opportunities within existing contracts
Slide 36: One Viewer - Cardiology
One Viewer - Cardiology Showcased at RSNA 2023 36
Slide 37: AI in Radiology (use cases)
AI in Radiology (use cases) • Imbedded in SW or imaging equipment • Prioritisation of cases – eg intracranial haemorrhage • Screening – early-stage lung nodule detection • Aid to diagnosis – 2nd opinion, incidental findings • New diagnostic tools – FFR in cardiac CT • Future - AI automated diagnosis
Slide 38: Visage - AI
Visage 7 - AI • Visage 7 platform AI capable • Based on GPU technology • Open API enables native integration • AI Ecosystem - 3rd party and Visage developed algorithms • Joint development/commercialisation opportunities - 3rd parties and academic clients. 38
Slide 39: AI – Breast Density American Roentgen Ray Society (ARRS)
AI – Breast Density American Roentgen Ray Society (ARRS) The researchers found that the AI model showed extremely good agreement with the radiologists at 99.3%. 39
Slide 40: AI Research Leadership
AI Research Leadership Malte Westerhoff, PhD Global Chief Technology Officer Detlev Stalling, PhD Head of Development Ming De Lin, PhD Clinical Research Manager North America Raj Moily, MBBS, PhD , MBA Director, AI Business Development North America 40
Slide 41: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro “From the Flintstones to the Jetsons” 41
Slide 42: Clinical Dexterity: Visage Ease VP
Clinical Dexterity: Visage Ease VP CT Head with MPR 2 X 2 Layout 2D Fusion PET/CT CTA Head/Neck with Immersive Volume Rendering, Clipped View US Abdomen 2 X 2 Layout CTA Angio TAVR, 2 X 2 Layout, and CTA Head/Neck with Immersive Immersive Volume Rendering Volume Rendering 42
Slide 43: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro • Launched 5th February with worldwide release of Apple Vision Pro • Visage’s cinematic rendering engine natively embedded in Visage Ease VP • Supports virtual screens at more than 4K resolution for each eye • Immersive, spatial experiences for diagnostic imaging
Slide 44: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro “Underpins our belief that our technology is 18 to 24 months ahead of competitors, if not more” 44
Slide 45: RSNA 2023
RSNA -2023 (> VISAcE IMAGING prosmedicus D consrrenrvs ances Visace IMAGING:
Slide 46: Summary
SUMMARY • Most successful half in company’s history • North American footprint continues to grow strongly • Expanded product portfolio – “full stack” solution • Proven remote implementation & support capability • Cloud – huge strategic advantage over competitors • Unparalleled value proposition both
Slide 47: Thank You
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