Slide 1: Full Year Results FY 2023
For personal use only Full Year Results FY 2023
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. For personal use only 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 For personal use only VISAGE RIS VISAGE 7 OEM PRODUCT SUITE 3
Slide 4: FY 2023 – Highlights
FY 2023 – Highlights For personal use only • Record year – transaction revenue up 44.2% • Seven contract wins in North America • $15M University of Florida contract renewal • Completed eight cloud-based implementations • RSNA 2022 the busiest to date • Progress with other ologies and AI 4
Slide 5: Results FY 2023
RESULTS FY 2023 For personal use only $124.9M $60.65M $83.88M 67.2% Revenue Profit Underlying EBIT up 33.6% after tax Profit margins up 36.5% Before Tax up 34.5% $121.5M $0.17 Cash Company Strong Final & debt balance dividend FF Investments free sheet Up 36.4% up 34.2%
Slide 6: FY 2023 Revenue Split
FY 2023 REVENUE SPLIT Full year revenue split $140,000,000 Exam/licence revenue*** Support/baseline revenue*** Capital revenue (net of hardware) Professional Services*** Archive data migration $2,059,000 ***Recurring revenue For personal use only $120,000,000 $8,259,608 $17,237,537 $100,000,000 $1,0
Slide 7: Highlights: Continues to grow strongly
HIGHLIGHTS Continues to grow FY 2023 STRONGLY CURRENT PIPELINE For personal use only $15.5M/7 $15M/7 $25M/7 $12M/8 $20M/7 years $16.5M years years years years Renewal New Contracts New Contract New Contract New Contract New Contract AUGUST AUGUST DECEMBER JANUARY JANUARY MAY 2022 2022 2022 2023 2023
Slide 8: Operational (Transaction) Model
OPERATONAL (TRANSACTION) MODEL For personal use only • Used in vast majority of US contracts • Delivered as SaaS model • Now used in RIS contracts in AUS • Model based on transaction minimums • Forward revenue > A$468M/5 years* • Upside as client examination volumes grow • Annuity style revenue stre
Slide 9: Operating Leverage
OPERATING LEVERAGE For personal use only • Highly scalable offering • No capex (HW) – SW only model • Training & Installation – charged as professional services • Contained cost base • Margin continues to grow as footprint increases 9
Slide 10: Exam (Transaction) Revenue
EXAM (TRANSACTION) REVENUE • Recurring in nature For personal use only • Increased by 44.2% YoY • Growth to continue for FY 2024 (FY Novant, Inova, Allina Luminis & others). • New Sites coming online in 1st Half FY24 (U Washington, Gundersen & others) • Growth from existing clients (organic and M&A)
Slide 11: In Review: 2023/2024 Top Hospitals
In Review 2023/2024 Top Hospitals (alphabetical order) For personal use only 11
Slide 12: Increasing footprint in the IDN space
Increasing footprint in the IDN space For personal use only • IDNs represent the largest segment of the market • Existing large IDN clients – Mercy, Sutter Health, Intermountain, Medstar. • Momentum increasing with 4 sales to IDN’s in the last 12 months • All sales for more than one Visage product –
Slide 13: Visage RIS
For personal use only VISAGE RIS
Slide 14: Visage RIS
VISAGE RIS For personal use only • 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 15: Visage 7.0
Visage 7.0 For personal use only Continues to be #1 in Speed, Functionality and Scalability. SPEED FUNCTIONALITY SCALABILITY
Slide 16: Massive Data Explosion
MASSIVE DATA EXPLOSION For personal use only • 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 17: Legacy Technology: Compress and Send
LEGACY TECHNOLOGY “Compress and Send” For personal use only MODALITIES PACS RADIOLOGIST/CLINICIAN
Slide 18: Solution: Visage Streaming Technology
SOLUTION: For personal use only VISAGE 7 Streaming Technology BACKEND RENDER MODALITIES RADIOLOGIST/CLINICIAN SERVER SERVER
Slide 19: Solution: Visage Streaming Technology
SOLUTION: Visage 7 Streaming Technology For personal use only
Slide 20: Contracts – different market segments
3 Contracts – 3 different market segments For personal use only • Montage Health – regional IDN • Bay Imaging consultants – private radiology group • CHOP – Tier 1 academic children's hospital • Visage 7 suitable to different market segments – increases PME’s total addressable market (TAM). • Combin
Slide 21: University of Florida Renewal
UNIVERSITY OF FLORIDA RENEWAL Gainesville / Jacksonville For personal use only • 7 Year - $15.5M contract renewal • Both sites now on transaction-based model • Increase in per transaction fee • Demonstrates confidence in Visage as a technology leader 21
Slide 22: Luminis Health
LUMINIS HEALTH For personal use only • 7-year, $15M transaction-based contract • Regional IDN based out of Annapolis, Maryland • “Full Stack” – Viewer, Worklist & Archive • Fully deployed – June 2023 • Increases PME’s footprint in the mid-sized IDN market 22
Slide 23: UW Medicine
UW MEDICINE For personal use only • 7-year, $25M transaction-based contract • Tier 1 Academic Medical Center based in Seattle • “Full Stack” – Viewer, Worklist & Archive • To be fully cloud deployed – 1st half FY24 • Increases PME’s footprint in the academic market 23
Slide 24: Samaritan Health Services
SAMARITAN HEALTH SERVICES For personal use only • 8-year, $12M transaction-based contract • Regional IDN based in Central Oregon • “Full Stack” – Viewer, Worklist & Archive • To be fully cloud deployed – 1st Half FY2024 • Increases PME’s footprint in the Northwest IDN market 24
Slide 25: Gundersen Health System
GUNDERSEN HEALTH SYSTEM For personal use only • 7-year, $20M transaction-based contract • Regional IDN based in Wisconsin ,Minnesota and Iowa • “Full Stack” – Viewer, Worklist & Archive • To be fully cloud deployed – 1st Half FY2024 • Increases PME’s footprint in the mid-sized IDN space 25
Slide 26: Fast Track Implementation
FAST TRACK IMPLEMENTATION For personal use only • All implementations on or ahead of schedule • Fast track methodology continues to deliver • Large scale projects completed in under 1/4 the time of industry norm • Delivers huge savings for client • Frees PME staff for other jobs • Reduces barrier to
Slide 27: Key Implementations FY 2023
KEY IMPLEMENTATIONS FY 2023 For personal use only September October 2022 November December April 2023 June 2023 2022 Hybrid 2022 2022 Hybrid Hybrid Hybrid Remote & Hybrid Hybrid Remote & Remote & Remote & Onsite Remote & Remote & Onsite Onsite Onsite Onsite Onsite 27
Slide 28: Visage – Proven ROI
VISAGE – PROVEN ROI For personal use only Significant IT & Unparalleled Greater Clinical Infrastructure Increase in Accuracy Savings Radiologist Efficiency Improved Physician Delivers Superior Engagement Value Proposition 28
Slide 29: Clinical Outcomes
Clinical Outcomes For personal use only Moving the Needle 29
Slide 30: Visage Imaging | Yale New Haven Health
Visage Imaging | Yale New Haven Health For personal use only Mariam Aboian, MD, PhD Assistant Professor Radiology & Biomedical “This is what AI based segmentation of “PACS is our clinical world for Radiologists. Engineering gliomas in PACS looks like! Advanced Yale School of Medicine Incorporation o
Slide 31: Patient Engagement - Video Reports
Patient Engagement - Video Reports For personal use only 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
Slide 32: Burnout – the new epidemic?
Burnout – the new epidemic ? For personal use only 32
Slide 33: Burnout – the new epidemic?
Burnout – the new epidemic ? For personal use only • Acute worldwide shortage of radiologists • Reduced intake of radiology residents over last few years – fears AI would take over • Larger datasets – more images to look at • Work Life balance post COVID – work from home part of the mix • Many group
Slide 34: Visage Imaging: Platform For The Future
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Slide 35: For personal use only
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Slide 36: Growth Strategy
GROWTH STRATEGY New product Transaction offerings Extend to new For personal use only growth from geographical existing clients markets Leverage R&D capability to Expand footprint introduce next – new clients generation products 36
Slide 37: North American Pipeline
NORTH AMERICAN PIPELINE For personal use only 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 New inbound RFPs academic and IDN Pipeline Robust even during markets COVID In terms of qualit
Slide 38: Visage Open Archive
VISAGE 7 OPEN ARCHIVE For personal use only • 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 opportu
Slide 39: Visage Workflow
VISAGE 7 WORKFLOW For personal use only • 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 CloudPACS solution • Ability to interface with broad range of AI algorithms • Sold in 10
Slide 40: New Products
NEW PRODUCTS For personal use only • 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 existi
Slide 41: One Viewer - Cardiology
One Viewer - Cardiology For personal use only 41
Slide 42: Visage is Best in KLAS 2023
VISAGE 7 is BEST IN KLAS 2023 For personal use only Visage 7 achieved the #1 ranking in the Universal Viewer (Imaging) segment with a score of 90.2. KLAS defines the Universal Viewer (Imaging) segment as “Solutions that can be used for referential and/or diagnostic viewing; that support multiple med
Slide 43: Visage CloudPACS
Visage CloudPACS For personal use only • 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 43
Slide 44: Visage CloudPACS: Industry swing to Cloud
Visage CloudPACS For personal use only • 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 str
Slide 45: AI in Radiology
AI in Radiology For personal use only • Imbedded in SW or imaging equipment • Prioritisation of cases – eg intracranial haemorrhage • Screening – eg early-stage lung nodule detection • Aid to diagnosis – 2nd opinion, incidental findings • Automated diagnosis 45
Slide 46: AI Research Leadership
AI Research Leadership Malte Westerhoff, For personal use only 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 46
Slide 47: Visage AI Accelerator
Visage 7 For personal use only • AI Accelerator – streamlines AI algorithm development • Optimised for AI data curation and validation • Open API enables native integration • AI Ecosystem - 3rd party and Visage developed algorithms • Joint development/commercialisation opportunities - 3rd parties an
Slide 48: AI – Breast Density
AI – Breast Density For personal use only 48
Slide 49: Research Collaboration Agreements (RCA)
RESEARCH COLLABORATION AGREEMENTS (RCA) For personal use only 49
Slide 50: RSNA - 2022
RSNA -2022 For personal use only “Our biggest presence to date in terms of footprint and staff numbers” “We generated more leads than any other year”
Slide 51: RSNA - 2022
For personal use only RSNA -2022
Slide 52: Summary FY 2023
SUMMARY FY 2023 • Most successful year in company’s history For personal use only • North American footprint continues to grow strongly • Expanded product portfolio – “full stack” solution • Proven remote implementation & support capability • Cloud – huge strategic advantage over competitors • Unpar
Slide 53: Thank You
For personal use only THANK YOU