Pro Medicus, Ltd. · ASX:PME
Pro Medicus — Shareholder Meeting (November 2023)
52 slides from Pro Medicus's shareholder meeting presentation, Nov 20, 2023
Slide 1: AGM November 2023 Chairman's Address
prosmedicus OUR SUPPORT. YOUR SUCCESS. AGM November 2023 Chairman’s Address % VISAGE IMAGING?
Slide 2: Chairman's Report
Pro Medicus Ltd AGM 20 November 2023 CHAIRMAN’S REPORT Overview The Company has enjoyed another very successful year both from an operational and financial point of view. The last 3 years of our previous strategic plan saw revenue and profit after tax more than double, whilst the Company continued t
Slide 3: New contract wins
Since 1 July 2023 the Company has signed 4 new contracts with combined minimum contract revenue of $A200 million. These are: - A 7 year contract with Memorial Sloan Kettering Cancer Centre, one of the world’s most respected comprehensive cancer centres, for $A24 million. - A 10 year contract with Ba
Slide 4: Surplus cash and M&A
Surplus cash and M&A As I indicated earlier our cash and other financial instruments have continued to grow during the year. These funds are maintained to allow the company to continue to invest in the development of our product suite (including AI), to meet our dividend obligations and to take adva
Slide 5: CEO Presentation
prosmedicus OUR SUPPORT. YOUR SUCCESS. AGM November 2023 CEO Presentation % VISAGE IMAGING?
Slide 6: Pro Medicus
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. H San Diego CA _’, ee GROUP HQ Mebourns AUS A OVER 40+ SOFTWARE ENGINEERS prosmedicus | % dun suP
Slide 7: Product Suite
© ASX:PME A v @ VISAGERIS VISAGE RIS pro+¢medicus.net @B VISAGE? VISAGE 7 OEM PRODUCT SUITE pro+medicus & OUR SUPPORT. YOUR SUCCESS. VISAGE TMAGING*
Slide 8: FY 2023 - Highlights
7 y V FY 2023 - Highlights e Seven contract wins in North America ¢ Record year — transaction revenue up 44.2% « | v ¢ S15M University of Florida contract renewal a ° Completed eight cloud-based implementations S A ¢ RSNA 2022 the busiest to date ¢ Progress with other ologies and Al v V x $$$$ prosm
Slide 9: FY 2023 Results
b vv RESULTS y é FY 2023 ! $60.65M Profit S after tax up 36.5% ; $83.88M Underlying 0 Profit To —_ Tax up 34.5% 67.2% EBIT margins | __| $121.5M | Cash & y mp 342% VV A’ ¥ Company debt free Strong balance sheet prosmedicus | & ‘our SUPPORT. vo! UR SUCCESS. $0.17 Final dividend FF Up 36.4% VISAGE TMA
Slide 10: FY 2023 Revenue Split
VV FY 2023 REVENUE SPLIT 6 $140,000,000 $120,000,000 $100, 000,000 $80,000,000 A $60,000,000 7 $40,000,000 $20,000,000 OExam/licence revenue*** $6,464,000 $12,327,000 FY19 Actual Full year revenue split OSupport/baseline revenue* ** Capital revenue (net of hardware) ***Recurring revenue $4,609,000 $
Slide 11: Highlights FY 2023
HIGHLIGHTS FY 2023 4 ——_—== Continues to grow STRONGLY CURRENT PIPELINE G Children’s Hospital of Philadelphia maT a Samaritan UFHealth MQNTAGE ® LuminisHeatth._ | UW Medicine ) Health Services eS $15.5M/7 aE ERIS EINE S15M/7 $25M/7 $12M/8 $20M/7 years $16.5M years years years years Renewal New Contr
Slide 12: Operational (Transaction) Model
OPERATONAL (TRANSACTION) MODEL ¢ Used in vast majority of US contracts ¢ Delivered as SaaS model ¢ Now used in RIS contracts in AUS — ¢ Model based on transaction minimums aes ¢ Upside as client examination volumes grow os S ¢ Annuity style revenue stream — greater predictability prosmedicus & OUR S
Slide 13: Operating Leverage
OPERATING LEVERAGE ° Highly scalable offering « SW only model $ ¢ No capex (HW or cloud fees) — ¢ Training & Installation — billed as professional services ye | ¢ Contained cost base ¢ Margin continues to grow as footprint increases ws prosmedicus 4 OUR SUPPORT. YOUR SUCCESS. VISAGE TMAGING’
Slide 14: Exam (Transaction) Revenue
EXAM (TRANSACTION) REVENUE ¢ Recurring in nature ¢ Increased by 44.2% YoY ¢ Growth to continue for FY 2024 (Novant, Inova, Allina Luminis & others). ¢ New Sites coming online in 1% Half FY24 (U Washington, Gundersen & others) ¢ Growth from existing clients (organic and M&A) ¢ Further upside with ado
Slide 15: In Review
7 WV In Review A) 2023/2024 Top Hospitals (alphabetical order) & 1 WOMENS HOSPITAL Brigham & Women’s - Live Full PACS 2 ee AHO etapraL Mass General - Live Full PACS MAYO 3 ow Mayo Clinic - Live Full PACS A Ihe Northwestern - Live Full PACS A = { eee NYU - Live Full PACS RUSH Rush - Breast Imaging PA
Slide 16: Growing Footprint in the IDN Space
Growing footprint in the IDN space = NOVANT mg HEALTH ¢ IDNs represent the largest segment of the market ¢ Existing IDN clients — Mercy, Sutter Health, INOVA Intermountain, Medstar & others ¢ Momentum increasing with 7 sales to large and mid sized IDN’s in the last 20 months ¢ All sales for more tha
Slide 17: Visage RIS
VV VISAGE RIS RECEPTION TECHNOLOGIST DOCTOR ANSCRIPTION| ARCH OFFICE = CLAIMING SETUP. Recent|¥ DrRSimpson\v {tiv Northern Visage General Hospital 2 2 AMT PM™ @ Patient @ Procedure [Cancelled [| Blocked 4 Tue, 17-Oct-2017 i O ra 4 Tue, 17-0 ral 4 Tue, 17-0ct-2017 > RE] 4 Tue, 17-0ct-2017 > fl 7) 08:
Slide 18: Visage RIS
y V\ VISAGE RIS 9 ¢ Long term (5 year) contracts with Lumus (Primary @ VISAGE RIS v Healthcare) and I-MED, the 2 biggest radiology rN providers in AUS 4 af» I-MED Network 4 Radiology y ¢ Lumus rollout now complete copes Uncnein ¢ Upside via organic and M&A growth (I-MED) . wae TP ct Imaging Services
Slide 19: Visage 7.0
\ A a wy v 7 N — Visage 7.0 Continues to be #1 in Speed, Functionality and Scalability. ee SCALABILITY ‘OUR SUPPORT. YOUR SUCCESS. VISAGE TMAGING’
Slide 20: 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 ¢ Breast Imaging — the 1°t department to crack J ‘ouR SUPPORT. YOUR success, VISAGE TMAGING”
Slide 21: Legacy Technology "Compress and Send"
A > LEGACY TECHNOLOGY 6 “Compress and Send” V MODALITIES PACS RADIOLOGIST/CLINICIAN | Or _ dogs prosmedicus % oun supponr. your success VISAGE TMAGING’
Slide 22: Solution: Visage Streaming Technology
Ab VY SOLUTION: 6 VISAGE 7 Streaming Technology BACKEND RENDER % MODALITIES SERVER SERVER RADIOLOGIST/CLINICIAN prosmedicus | % dun suPeonT. our success VISAGE IMAGING’
Slide 23: Solution: Visage Streaming
\ SOLUTION: Visage 7 Streaming OQ} ONE VIEWER™ FOR ALL (Any Location*) & Radiology @ Cardiology R Breast Imaging @® Ophthalmology * Ubiquitous: At-Home, On-Prem, Mobile ALL PHYSICIANS & CLINICIANS tal’ S VISAGE IN THE CLOUD* * Visi ud, On-Prem or Hybrid a ® ® rE aN aj ALL MODALITIES, ALL LOCATIONS.
Slide 24: Memorial Sloan Kettering
MEMORIAL SLOAN KETTERING CANCER CENTER ¢ 7-year, $24M transaction-based contract ¢ Top two cancer hospital in North America e “Full Stack” — Viewer, Worklist & Archive ° To be fully Cloud deployed ° Rollout to commence in 1st half 2024 ¢ Increases PME’s footprint in the Tier 1 academic space prosmed
Slide 25: Baylor Scott & White Health
BAYLOR SCOTT & WHITE HEALTH ¢ Largest PME deal to date ¢ 10-year, $140M transaction-based contract e “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 e Mixture of both academic and IDN “HEA
Slide 26: South Shore Health
SOUTH SHORE HEALTH ¢ 8-year, $16M transaction-based contract ¢ Regional IDN based in Southern Massachusetts e “Full Stack” — Viewer, Worklist & Archive ¢ Fully cloud deployed — 1° half 2024 ¢ Increases PME’s footprint in the mid-sized IDN market prosmedicus % dun suPeonT. our success VISAGE IMAGING’
Slide 27: Oregon Health & Science University
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 prosmedicus ® oun surronrromsuzeess Visace IMAGING"
Slide 28: North American Sales — $200M TCV in Months
J WV NORTH AMERICAN SALES — $200M TCV in 5 Months / 9 i (S) ® : 6) . © Vv a ¢ §$200M TCV is based on minimums - significant potential upside L ¢ Contract wins spread across multiple market segments : ¢ 2 AMCs, 1 regional IDN and 1 combination of both (BSW) y ¢ All “Full Stack” and cloud — a growing
Slide 29: Network Effect
© Prospects v Network Effect A Opportunities Increasing number of inbound RFPs Progressing through various stages of the cycle Increased as a result of recent high-profile wins in Tier 1 academic and IDN markets Pipeline Robust In terms of quality and quantity of opportunities prosmedicus | & ‘OUR S
Slide 30: Fast Track Implementation
‘ FAST TRACK é IMPLEMENTATION ¢ 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 change ¢ New high
Slide 31: Visage — Proven ROI
4 VISAGE — PROVEN ROI VISAGE IMAGING’ Significant IT & Unparalleled Greater Clinical Infrastructure Increase in Accuracy A Savings Radiologist A Efficiency at Engagement Value Proposition VV Improved Physician Delivers Superior prosmedicus | % dun suPeonT. our success VISAGE IMAGING’
Slide 32: Clinical Outcomes
Clinical Outcomes 4 S 2 = Moving the Needle prosmedicus a um suprosr, youn suecess, VISAGE IMAGING’
Slide 33: Visage Imaging | Yale New Haven Health
Visage Imaging | Yale New Haven Health Visage®7 Al ACCELERATOR ie End-to-End Al Solution Mariam Aboian, MD, PhD N CW H a ve Nn Assistant Professor “This is what Al based tation of Radiology & Biomedical r “PACS is our clinical world for Radiologists. homacin PACS Mocks titel Arvoneea Engineering _ e
Slide 34: Yale
J Yale V Vv Visage Imaging | Dr Mariam Aboian NewHaven yy Health prosmedicus ® OUR SUPPORT. YOUR SUCCESS. VISAGE TMAGING”
Slide 35: Burnout — the New Epidemic?
% Burnout — the new epidemic ? VISAGE IMAGING’ = Has Burnout Become an Epidemic in Radiology? April 22, 2022 Jeff Hall 00000 Review: Diagnostic radiologists at higher risk of burnout What You Need to Know About Radiologist Burnout and How to Keep It in Check By Rosil Sinha | December 2, 2019 Februar
Slide 36: Burnout — the New Epidemic?
% Burnout — the new epidemic ? VISAGE IMAGING’ ¢ Acute worldwide shortage of radiologists ¢ Reduced intake of radiology residents over last few years — fears Al would take over ¢ Larger datasets — more images to look at ¢ Work Life balance post COVID — work from home part of the mix ¢ Many groups st
Slide 37: prosmedicus | %
prosmedicus | % DUR SUPPORT. YOUR SUEEESS. Vi ISAGE TMAGING’
Slide 38: Visage CloudPACS
Visage CloudPACS ¢ Visage 7 — Cloud engineered ¢ Faster than on-premise ¢ Increased security and scale in the cloud * Complete PACS deployment ¢ Suitable for all size implementations ‘OUR SUPPORT. YOUR SUCCESS, % VISAGE TMAGING’
Slide 39: Visage CloudPACS
Visage CloudPACS ¢ Unprecedented swing to Cloud ¢ All US sales in the past 3 years have been CloudPACS ° Pipeline mandating Cloud deployment ¢ Large scale implementations in all 3 cloud vendors - AWS, Azure and Google GCP ¢ Significant strategic advantage over competitors % ‘our suproar. our success
Slide 40: Growth Strategy
GROWTH STRATEGY New product Transaction offerings Extend to new growth from geographical existing clients markets Expand footprint V — new clients Leverage R&D capability to introduce next generation products prosmedicus | ue SOFFORT. YoU SUEEESS VISAGE IMAGING’
Slide 41: Visage Open Archive
VISAGE 7 OPEN ARCHIVE ¢ Same highly scalable Visage 7 platform ¢ Enables choice of modular or single vendor solutions ¢ Visage 7 Open Archive best in breed component of “Full Stack” solution ¢ Pipeline includes archive opportunities ¢ Key component of Visage CloudPACS strategy ¢ Transaction based mo
Slide 42: Visage Workflow
VISAGE 7 WORKFLOW ¢ Same highly scalable platform as Visage 7 Viewer and Open Archive modules v ¢ Allows PME to offer “full stack” solution \ ¢ Integral part of Visage best in breed CloudPACS ofering ¢« Sold in 12 out of the last 12 contracts y e Sales to existing V7 viewer customers - NYU and Yale
Slide 43: New Products
NEW PRODUCTS mx Visage® 7 One Viewer” All Modalities Visage® 7 Al ACCELERATOR End-to-End Al Solution 8 i a ENCOUNTER BASED NON-DICOM IMAGES IMAGES. 57 asl e Single viewer for ALL images in the medical record (EMR) * Radiology/Cardiology (DICOM oo format) “tar ¢ Non-radiology— reflected light — EAR h
Slide 44: One Viewer - Cardiology
One Viewer - Cardiology ROI4 Length: 8.6 cm Area: 31.0cm2 © VISAGE TMAGING’ Platform For The Future — Powered By Speed. Cardiology offering to be showcased at RSNA 2023 pro+medicus > un suppogr YOUR suovEss VISAGE IMAGING"
Slide 45: Visage is Best in KLAS 2023
VISAGE 7 is BEST IN KLAS 2023 Ranked #1 Universal Viewer Visage® 7 VISAGE IMAGING’ Platform For The Future — Powered By Speed. 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 b
Slide 46: Uses in Radiology
uses in Radiology Imbedded in SW or imaging equipment Prioritisation of cases — eg intracranial haemorrhage Population screening eg early-stage lung nodule detection Aid to diagnosis — 24 “set of eyes” breast screening Automated diagnosis pro+medicus | 4 OUR SUPPORT. YOUR success. VISAGE TMAGING’
Slide 47: AI Research Leadership
Al Research Leadership Malte Westerhoff, « PhD ™ Global Chief Technology Officer . Detlev Stalling, PhD Head of Development ‘ l Ming De Lin, PhD Clinical Research Manager North America y > Ww N \Raj Moily, MBBS, PhD , MBA Director, Al Business Development North America xX aN ; pro+medicus | & OUR SU
Slide 48: Visage - AI
~ Py | P| Visage 7 -Al ¢ Visage 7 platform Al capable ¢ Based on GPU technology ¢ Open API enables native integration ¢ Al Ecosystem - 3 party and Visage developed algorithms ¢ Joint development/commercialisation opportunities - 3 parties and academic clients. pro+medicus OUR SUPPORT. YOUR suces E58
Slide 49: AI — Breast Density ARRS
Al _— Breast Density American Roentgen Ray Society (ARRS) PACS-integrated machine learning breast density classifier: CLINICA WALIDAMON Vice Newtiaver (range Tvacinc: —— Health The researchers found that the Al model showed extremely good agreement with the radiologists at 99.3%. medicus VISAGE TMAG
Slide 50: RSNA-2023
wt RSNA-2023 / URSNA % VISAGE IMAGING” OUR SUPPORT. YOUR SUCCESS. | VISAGE TMAGING*
Slide 51: FY24 - Year to Date
FY24 - Year to Date Ahead of budget on constant currency basis Record level of contract wins in the first 5 months - $S200M TCV at minimums Contract wins span multiple market segments reinforces large TAM Strong pipeline across broad range of opportunities Strategically positioned to leverage Al and
Slide 52: Thank You
THANK YOU