Pro Medicus, Ltd. · ASX:PME
Pro Medicus — Shareholder Meeting (November 2024)
58 slides from Pro Medicus's shareholder meeting presentation, Nov 25, 2024
Slide 1: AGM November 2024 Chairman's Address
pro+medicus OUR SUPPORT. YOUR SUCCESS. AGM November 2024 Chairman’s Address & VISAGE TMAGING'
Slide 2: Chairman's Report
Pro Medicus Ltd AGM 25 November 2024 CHAIRMAN’S REPORT Overview The Company has enjoyed another extremely successful year both from an operational and financial point of view. The success of the Company in the markets that we serve continues to be due to the quality of our leading technology and qua
Slide 3: Cash flow positive and surplus cash
The Company continued to be cash flow positive with retained cash and liquid investments increasing from $121.5 million to $155.4 million, after a $A2.77m buyback of shares in February/March, a $US5m investment in cardiac CT AI company Elucid and paying increased dividends. The Board anticipates FY2
Slide 4: Closing
Closing In closing, on your behalf, I would again like to thank all of our dedicated staff in Australia, North America and Europe for their contribution to the company during what has been another very successful year. I would also like to thank my fellow directors who have also worked tirelessly an
Slide 5: CEO Presentation
pro+medicus OUR SUPPORT. YOUR SUCCESS. AGM November 2024 CEO Presentation & VISAGE TMAGING'
Slide 6: Healthcare IT company specializing in Enterprise Imaging
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 San Diego CA GROUP HQ =: OVER 40+ SOFTWARE ENGINEERS prosmedicus | ® VISAGE TMAGING’
Slide 7: VISAGE RIS
A v @ VISAGERIS VISAGE RIS pro¢medicus.net VISAGE? VISAGE 7 PRODUCT SUITE ly OEM prosmedicus | & ‘OUR SUPPORT. YOUR success. VISAG E TMAGING®
Slide 8: FY 2024 Results
y , VY FY 2024 — Results Vv * Completed nine cloud-based implementations 4 * Progress with other ologies and Al ¢ Record year | . ¢ Nine contract wins in North America S L ¢ Forms base for growth in FY25 and beyond Vv Vv g $$$$ prosmedicus % ‘DUR SUPPORT. YOUR SUCCESS. VISAGE IMAGING’
Slide 9: FY 2024 Results
“<q ce i> eas RESULTS FY 2024 $161.5M $82.8M Revenue Profit S up 29.3% S after tax up 36.5% {| | Underlying $112.3M ©) EBIT up 33.8% 69.5% EBIT margins aR | | $155.4M Cash Company & debt Investments free up 27.9% Strong balance sheet $0.22 Final dividend FF Up 33.3% prosmedicus | & ‘OUR SUPPORT. YOU
Slide 10: FY 2024 Revenue Split
A vv FY 2024 REVENUE SPLIT 180,000,000 DExam/licence revenue*** Support/baseline revenue*** O Professional Services*** D Archive data migration ***Recurring revenue $160,000,000 ~~ $140,000,000 $120,000,000 v $100,000,000 a CS3-413,000 1 $60,000,000 $6,047,000 FY20 FY23 Actual Actual prosmedicus Cea
Slide 11: Highlights FY 2024
HIGHLIGHTS FY 2024 “aA 4 V @) + BaylorScott&White Memorial Sloan Kettering HEALTH Cancer Center.. \ $24M/7 years $140M/10 years New Contract y New Contract | | Pdf vos Shore Health $16M/8 years New Contract OREGON | HEALTH (a &SCIENCE UNIVERSITY $20M/8 years New Contract 3] S9.5M/5 years New Contrac
Slide 12: Highlights FY 2024
wed >a. >< A HIGHLIGHTS FY 2024 Nicklaus & Children’s MOFFITT (fy Se > Hospital CANCER CENTER A _ ® US Radiology Specialists WwW NA RI 3 —== $6.5M/5 years S9M/8 years $8.5M/5 years cont : ontinues to grow New Contract New Contract New Contract STRONGLY APRIL 2024 MAY 2024 MAY 2024 NOVEMBER - NINE CU
Slide 13: Operational (Transaction) Model
OPERATONAL (TRANSACTION) MODEL ¢ Used in vast majority of US contracts ¢ Delivered as SaaS model ¢ Used in newer RIS contracts in AUS — ¢ Model based on transaction minimums aps ¢ Upside as client examination volumes grow es S ¢ Annuity style revenue stream — greater predictability prosmedicus 7 ‘OU
Slide 14: Operating Leverage
OPERATING LEVERAGE ¢ No capex (HW or cloud fees) — SW only model * Training & Installation — billed as professional services ¢ Highly scalable offering « é ¢ Contained cost base ¢ Margin continues to grow as footprint increases we prosmedicus % ‘DUR SUPPORT. YOUR SUCCESS. VISAGE IMAGING’ 11
Slide 15: In Review: Top Hospitals
q, Vv = boo eT In Review | 2024/2025 Top Hospitals (alphabetical order) >50% of The Best Hospitals Use Visage Out of the top rated U.S. hospitals (11 out of 20) use Visage 7 for PACS. & il BRIGHAM AND WOMEN’S HOSPITAL N iw DukeHealth MASSACHUSETTS 8 GENERAL HOSPITAL, MAYO. CLINIC ey MAYO. CLINIC Mi
Slide 16: Increasing footprint in the IDN space
, X Increasing footprint in the IDN space a Mercy ¢ IDNs represent the largest segment of the market Ss Sutter Health ¢ IDN clients across broad spread of opportunities 4 from large multi-state to smaller regional N ¢ Most recent IDN sales for more than one Visage —— y product — many “full stack”. M
Slide 17: VISAGE RIS
VISAGE RIS ON TECHNOLOGIST Northern 12:15PM 1230PM 1245 PM 0190 PM 0145 PM 0130 PM 0445 PM 20 PM 0215 PM 0230 PM 0245 PM 03:00 PM (3.15PM 03:30PM (345 PM 040 PM 0415 PM 0430 PM 0445 PM ‘ADAMS, Mrs ROSE .. DOCTOR oe TRANSCRIPTIONIST Visage General Hospital CLAIMING 4 Tue, 17-0ct-2017 08:00 AM 08:15AM
Slide 18: Long term (5 year) contracts
A VV , 9 VISAGE RIS Long term (5 year) contracts with Lumus (Primary Healthcare) and I-MED, the 2 biggest radiology providers in AUS Upside via organic and M&A growth Increased market interest — new opportunities PME undisputed market leader oe A VISAGERIS La I-MED Network eo Radiology Comprehensive
Slide 19: Visage 7.0
Visage 7.0 Continues to be #1 in Speed, Functionality and Scalability. SCALABILITY prosmedicus & ou suas ous sucess 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% department to crack ® ‘OUR SUPPORT. YOUR SUCCESS. Vis. AGE Tu. (AG
Slide 21: Legacy Technology
LEGACY TECHNOLOGY “Compress and Send” MODALITIES PACS RADIOLOGIST/CLINICIAN prosmedicus & ous suPronr. vour success. VISAGE IMAGING’
Slide 22: Solution: Visage Streaming Technology
4 SOLUTION: é VISAGE 7 Streaming Technology MODALITIES SERVER SERVER RADIOLOGIST/CLINICIAN Vv } A BACKEND RENDER A prosmedicus | & ous suPronr. vour success. VISAGE IMAGING’
Slide 23: All Physicians & Clinicians
y | P| 7 = ALL PHYSICIANS & CLINICIANS (Any Location*) QO} ONE VIEWER™ FOR ALL & Radiology J Cardiology R Breast Imaging © Ophthalmology VISAGE IN THE CLOUD" Vi @ Cloud, On-Prem or Hybrid Implementation | > \ } a ud Ww S 7 = “Y —< © @ © ALL MODALITIES. ALL LOCATIONS. VISAGE* 7 RESEARCH SERVER (Jp VI
Slide 24: Implementation
q y g IMPLEMENTATION FAST TRACK 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 highly optimized
Slide 25: Visage — Proven ROI
y % VV VISAGE — PROVEN ROI VISAGE TMAGING' ™ ~ ) Significant IT & Unparalleled Greater Clinical Infrastructure Increase in Accuracy A Savings Radiologist A Efficiency Engagement Value Proposition VV Improved Physician Delivers Superior pro:medicus | % (uk supPoRr. vauR success. VISAGE TMAGING’ 22
Slide 26: Clinical Outcomes
Clinical Outcomes “gq . e < Vv A / A } Moving the Needle VV V A % ou sunvom. our sueerss VisaGe IMAGING" 23
Slide 27: Visage Imaging | Moving the needle
Visage Imaging | Moving the needle “First of all, | want to say you have a great platform. The registration, fusion, and linking to 2 prior studies at once is mind blowing”. “1 have never been able to visualize vessels like this in a PACS, this is so impressive!” (neuro radiologist) ‘NMisage has eve
Slide 28: How Will We Solve Our Radiology Workforce Shortage?
American College March 01, 2024 »f Radiology Chair of the Commission on Economics Gregory N. Nicola, MD, FACR How Will We Solve Our Radiology Workforce Shortage? As the U.S. population ages, government-funded residency programs are not keeping pace with an increasing need for more radiologists. “The
Slide 29: Are there enough Radiologists?
% Are there enough Radiologists? VISAGE TMAGING' ¢ 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
Slide 30: The Radiologist Shortage Conundrum
American College »f Radiology The Radiologist Shortage Conundrum The ACR is adapting, advocating for and developing new tools an technology in its efforts to address the workforce crisis. tum surron.voU sucees | VISAGE TMAGING"
Slide 31: prosmedicus | %
prosmedicus | % cu sureem rum seas VISAGE IMAGING”
Slide 32: Visage CloudPACS
A VV Visage CloudPACS Offers increased security and scalability of cloud Faster than on-premise solutions 100% of Visage US sales in the last 4 years CloudPACS Large scale implementations in all 3 Tier 1 cloud vendors - AWS, Azure and Google GCP Massive strategic advantage over competitors ® our suP
Slide 33: Growth Strategy
rN vv GROWTH STRATEGY New product offerings — Transaction growth V70A, worklist from existing clients Expand footprint — new clients Extend to new geographical markets Leverage R&D capability to introduce next generation products prosmedicus | VISAGE TMAGING* 30
Slide 34: Million exams performed per annum in the US
650 Million exams performed per annum in the US Growing by ~ 2 to 3% per annum Visage able to address 100% of TAM from a product perspective ~ 85% of TAM addressable from commercial perspective — “full stack”, Cloud etc Current penetration is 7% and growing Large addressable runway ‘ouk SuPPoRT. You
Slide 35: Progressing
© Prospects co] €.3) Progressing Network Effect through various stages of the cycle Opportunities Increasing due to recent high-profile wins in both Tier 1 academic and IDN markets Increased number of inbound RFPs across all market segments Pipeline Robust In terms of quality and quantity of opportu
Slide 36: VISAGE OPEN ARCHIVE
VISAGE 7 OPEN ARCHIVE ¢ Same highly scalable Visage 7 platform ¢ Enables choice of modular or single vendor solutions e 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 37: VISAGE WORKFLOW
VISAGE 7 WORKFLOW Same highly scalable platform as Visage 7 Viewer and Open Archive modules Allows PME to offer “full stack” solution Integral part of Visage best in breed CloudPACS ofering Sales to existing V7 viewer customers Transaction based model with potential upside porte prosmedicus ou suas
Slide 38: One Viewer - Cardiology
One Viewer - Cardiology EJECTION FRACTION ROI 4 Length: 8.6 cm Area: 31.0 cm? VoJ: 92:6 ml VISAGE TMAGING’ Platform For The Future — Powered By Speed. Cardiology offering to be showcased at RSNA 2024 prosmedicus VisaGe IMAGING’ 35
Slide 39: Imbedded in SW or imaging equipment
= Py | Imbedded in SW or imaging equipment Prioritisation of cases — eg intracranial haemorrhage Population screening eg early-stage lung nodule detection Aid to diagnosis — 2" “set of eyes” breast screening Automated diagnosis prosmedicus | & ou suas ous sucess Visace TMAGING’ 36
Slide 40: AI Research Leadership
~ 4 a Al Research Leadership Malte Westerhoff, .\. PhD : Global Chief Technology Officer Detlev Stalling, PhD Head of Development Ming De Lin, PhD Clinical Research Manager North America > prosmedicus | & ou suas ous sucess Visace TMAGING’ 37
Slide 41: Visage - AI
~~ 4 y | Visage 7 - Al ACCELERATOR ¢ 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. >” prosmedicus | & VISAGE T
Slide 42: PACS-integrated machine learning breast density classifier
American Roentgen Ray Society (ARRS) PACS-integrated machine learning breast density classifier: CLINICAL VALIDATION \ 4 la £3 Yale e NewHaven NYU Langone i eae Health Health The researchers found that the Al model showed extremely good agreement with the radiologists at 99.3%. prosmedicus ur sunvon
Slide 43: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro g “From the Flintstones to the Jetsons” prosmedicus % VisaGe IMAGING’ 40
Slide 44: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro ¢ Launched 5* February 2024 with launch of Apple Vision Pro e 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 and mul
Slide 45: Visage Ease VP for Apple Vision Pro
, N Visage Ease VP for Apple Vision Pro Next-generation VR headsets could improve ergonomics, radiologist reading W\ experience Marty Stempniak | November 06, 2024 | Radiology Business | Enterprise Imaging ~~" “The headset offers new opportunities for 3D visualization through its immersive display a
Slide 46: 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” prosmedicus ef VisaGe IMAGING
Slide 47: Back to the Future
WW Back to the Future 1983-1989 1999 2009 2011 prosmedicus Visual Concepts GmbH prosmedicus VISAGE TMAGING’ Complete PACS functionality | Multi-modality image processing and display, with modular implementation A ahs Dr. Sam Hupert and Anthony Hall form Pro Medicus Limited Amazon introduces Kindle F
Slide 48: Visage Imaging | RSNA 2010 & 2011
Visage Imaging | RSNA 2010 & 2011
Slide 49: Visage Imaging | Enterprise
A y & ENTERPRISE Nise none, 2017 iss aia | Mabne eliVical imegty eal sce: Visage 7 Open Archive | Ultrafast; high performance medical Visage 7 Workflow | Ultrafast enterprise workflow orchestration ish ast imaging archiving ‘Breaking Bad” ends its run on AMC ‘Semantic Annotations | Mineable data wit
Slide 50: Visage Imaging | RSNA 2017 & 2018
Y Visage Imaging | RSNA 2017 & 2018 prosmedicus VISAGE TMAGING* 47
Slide 51: Virtual RSNA
2020 Virtual RSNA CloudPAcs has arrived ~— Visage 7 Live Connect | Simple, radiologist and referring physician collaboration Covid-19 Pandemic spreads worldwide Lockdowns bring binge-streaming of Tiger-King Visage Breast Density | The first vendor self-developed Al algorithm native for PACS achieved
Slide 52: Visage Imaging | RSNA 2023
Visage Imaging | RSNA 2023 prosmedicus 4 ou suas ous sucess Visace TMAGING’
Slide 53: PME/Visage - Our People
) PME/Visage - Our People 9 ~] 4 ¢ 121 employees globally ° 30% of staff have been with company for more than 10 years (excluding founders) ¢ 5 have been with the company over 20 years Ss «has been with the company over 30 years y ¢ Three 2nd gen employees — parents and children both currently on st
Slide 54: Visage Imaging | RSNA 2024
Visage Imaging | RSNA 2024 Booth # 4329 prosmedicus ou suas ous sucess Visace TMAGING’ 51
Slide 55: Visage Imaging | RSNA 2024
Visage Imaging | RSNA 2024 prosmedicus ou suas ous sucess Visace TMAGING’ 52
Slide 56: Visage Imaging | RSNA 2024
Visage Imaging | RSNA 2024 ra ~—«, Visage Chat Debut as “work in progress” at RSNA Joint development between Melbourne and Berlin R&D Works with both Visage RIS and Visage 7.0 Context sharing and launching of Visage 7 Live Connect Available in Q2 2025 prosmedicus & ou suas ous sucess Visace TMAGING’
Slide 57: FY25 - Year to Date
FY25 - Year to Date Ahead of growth-oriented budget YTD 2 contract renewals with minimum TCV of AUDS130M 3 Major implementations completed — MSK Baylor and OHSU Strong pipeline across broad range of opportunities Strategically positioned to leverage Al and other “ologies” RSNA 2024 shaping up to be
Slide 58: THANK YOU
Ay ny a a! N vv N 7 THANK YOU N prosmedicus | 4 cum suPPonr. youn success. VISAGE IMAGING’