Slide 1: Half Year Results February 2021
For personal use only Half Year Results February 2021
Slide 2: Pro Medicus (ASX:PME)
PRO MEDICUS (ASX:PME) Healthcare IT company specializing in Enterprise Imaging and For personal use only 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 For personal use only VISAGE RIS VISAGE 7 OEM PRODUCT SUITE 3
Slide 4: HY21 Half Year in Review
HY21 Half Year in Review For personal use only Continues to grow $25M/7 years $10M/7 years $8.5M/5 years $18M/5 years STRONGLY Remote go-live New Contract New Contract New Contract Contract Renewal PIPELINE AUGUST 2020 SEPTEMBER 2020 OCTOBER 2020 NOVEMBER 2020 DECEMBER 2020 4
Slide 5: Results HY 2021
RESULTS HY 2021 For personal use only $31.59M $13.54M $18.76M 59% Revenue Profit Underlying EBIT up 7.8% after tax Profit Before margins up 12.4% Tax up 25.9% $50.93M $0.07 Cash Company Strong Interim Reserves debt balance dividend FF up $7.52M free sheet Up 16.6%
Slide 6: HY 2021 Revenue Split
HY 2021 Revenue Split For personal use only $35,000,000 1H v 2H revenue split Exam/licence revenue*** Support/baseline revenue*** Capital revenue (net of hardware) Professional Services*** ***Recurring revenue $30,000,000 $4,052,000 $2,309,000 $2,300,000 $25,000,000 $7,667,000 $8,297,000 $2,649,000
Slide 7: 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$305/5 years* • Upside as client examination volumes grow • Annuity style revenue strea
Slide 8: 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 • High operating leverage • Margin continues to grow as footprint increases 8
Slide 9: 2nd Half FY2021
2nd Half FY2021 For personal use only • Client volumes back to normal despite COVID • Growth to continue in 2nd half and FY22 • Existing clients – organic growth and new sites • Full 6 months from LMU Klinikum • 3 large contract wins to come online in 2nd half - Northwestern, NYU and Medstar • Inter
Slide 10: Visage RIS
For personal use only VISAGE RIS
Slide 11: Visage RIS
VISAGE RIS For personal use only • Long term (5 year) contracts with Primary Healthcare and I–MED, the 2 biggest radiology providers in AUS • Combined revenue in excess of $4.4M pa once fully deployed • HIS (Healius) rollout nearing completion • Upside via organic and M&A growth (I-MED) • Increased
Slide 12: Visage 7.0
Visage 7.0 For personal use only Continues to be #1 in Speed, Functionality and Scalability. SPEED FUNCTIONALITY SCALABILITY
Slide 13: 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 14: Legacy Technology
LEGACY TECHNOLOGY For personal use only “Compress and Send” MODALITIES PACS RADIOLOGIST/CLINICIAN
Slide 15: Solution: Visage Streaming Technology
SOLUTION: For personal use only VISAGE 7 Streaming Technology BACKEND RENDER SERVER SERVER RADIOLOGIST/CLINICIAN MODALITIES
Slide 16: Recent Sales Pipeline
Recent Sales PIPELINE Continues to grow For personal use only STRONGLY A Major US University Health System $22M/5 years $25M/7 years $10M/7 years $18M/5 years $40M/7 years $31M/7 years New Contract New Contract New Contract New Contract New Contract New Contract JUNE 2020 SEPTEMBER 2020 OCTOBER 2020
Slide 17: Northwestern
NORTHWESTERN For personal use only • Minimum $22 Million over 5 years • Transaction-based licensing model with upside • Voted in the top 10 Hospitals in North America • Teaching hospital for the Feinberg School of Medicine • Adds to PME growing base of Tier-1 Healthcare institutions • Implementation
Slide 18: NYU Langone
NYU LANGONE For personal use only • $25 Million over 7 Years • Voted in the top 10 Hospitals in North America • Transaction based licensing model with upside • Teaching hospital for the Grossman School of Medicine • Implementation scheduled for Q3/Q4 FY21 • 2nd Tier 1 academic contract win in 3 mont
Slide 19: LMU Klinikum - Munich
LMU KLINKUM - Munich For personal use only • $10M – 7-year Deal • One or Europe’s largest teaching hospitals • 2nd major hospital contract in Germany • Visage 7 Viewer and Visage Open archive • Breaks the mold of “one-stop-shop” modality vendor systems • Paves the way for further European sales 19
Slide 20: Zwanger Pesiri
ZWANGER PESIRI For personal use only • $8.5M -5-year renewal contract • One of the largest private outpatient groups in the US • Increased minimum contract value by 70% • Visage technology key enabler of practice growth • Validates Visage’s unique value proposition 20
Slide 21: MedStar Health
MEDSTAR HEALTH For personal use only • $18M-5-year deal • Replaces legacy PACS across 10 hospitals • Largest health system in the Maryland/DC region • Contract for all three Visage modules –Viewer, Open Archive and Workflow • Visage 7 platform to be fully deployed in the public cloud • Extends PME’s
Slide 22: Intermountain Healthcare
INTERMOUNTAIN HEALTHCARE For personal use only • $40M – 7-year deal • Largest healthcare provider in the Intermountain West • Visage to replace legacy PACS across 24 hospitals and more than 200 clinics • Contract includes the Visage 7 Viewer and Open Archive • Visage 7 to be fully deployed in the pu
Slide 23: Leading Californian Academic Health System
LEADING CALIFORNIAN ACADEMIC For personal use only HEALTH SYSTEM • $31M – 7-year deal • 5 leading academic campuses - UCLA, UCSF, UCSD, UC Davis and UC Irvine • Unifying all 5 academic campuses on a single diagnostic imaging platform • Visage 7 to be deployed in the public cloud • Further extends PM
Slide 24: Fast Track Implementation
FAST TRACK IMPLEMENTATION For personal use only • Implementations on schedule • OSU first 100% remote implementation • Transition to mixture of on-site and remote • Fast track methodology continues to deliver • Large scale projects completed in under 1/4 the time of industry norm • Delivers huge sav
Slide 25: Visage - Proven ROI
VISAGE – PROVEN ROI For personal use only Significant IT & Unparalleled Increase in Greater Clinical Infrastructure Savings Radiologist Efficiency Accuracy Improved Physician Delivers Superior Engagement Value Proposition 25
Slide 26: Visage - Clinical ROI
VISAGE – Clinical ROI For personal use only Improved Physician Engagement 26
Slide 27: Growth Strategy
GROWTH STRATEGY For personal use only New product offerings Transaction growth Extend to new from existing clients geographical markets Leverage R&D capability Expand footprint – to introduce next new clients generation products 27
Slide 28: North American Pipeline
NORTH AMERICAN PIPELINE For personal use only Prospects Progressing through Network Effect various stages of the cycle Opportunities Further increased as a result of recent high- profile wins New inbound RFPs Pipeline Robust even during COVID In terms of quality and quantity of opportunities 28
Slide 29: New Products: Enterprise Imaging
NEW PRODUCTS ENTERPRISE IMAGING For personal use only • One Viewer for ALL images • 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 30: New Products: Visage Open Archive
NEW PRODUCTS For personal use only VISAGE 7 OPEN ARCHIVE • Based on same highly scalable platform as VISAGE 7 • Interoperable – works in complex environments • Enables Visage to offer choice of modular or single vendor solutions • Pipeline includes opportunities for Viewer and Visage Open Archive •
Slide 31: Visage Workflow Manager
Visage 7 Workflow Manager For personal use only • Adds to V7 Viewer and Open Archive modules • Based on over 30 years experience in Worklist SW • Allows PME to offer single-vendor solution • Integral part of Visage in the Cloud SaaS solution • Ability to interface with broad range of AI algorithms 3
Slide 32: Visage in the Cloud
VISAGE in the CLOUD For personal use only • Visage 7 - highly optimised for Cloud deployment • Same ultrafast performance as on-premise • Full Visage 7 functionality • Security and scale of the cloud • Full PACS deployment or as backup/disaster recovery • Suitable for all size implementations • Open
Slide 33: AI in Radiology
AI in Radiology For personal use only • Imbedded in SW or imaging equipment • Prioritisation of cases – head trauma • Screening – early-stage lung nodule detection • Aid to diagnosis – 2nd opinion, incidental findings • Automated diagnosis 33
Slide 34: Visage AI Accelerator
Visage AI Accelerator For personal use only • Unique end to end solution • Research and production environments on a single platform • Based on market leading Visage 7 technology • Enables Visage clients to fast-track AI as part of their imaging strategy 34
Slide 35: Visage Research Server
Visage 7 For personal use only • Research Server – 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 a
Slide 36: Breast Density - AI
Breast Density - AI For personal use only • 1st diagnostic AI algorithm produced by Visage • Developed in collaboration with renown breast imaging team at Yale • Provides “on the fly” AI assessment of breast density • FDA, CE and TGA approved – Feb 2021 • A model for future collaboration with other
Slide 37: Summary
SUMMARY For personal use only • North American footprint growing strongly • Transaction revenue increasing – major step-up FY22 • Market leading technologies • Growing product portfolio – single vendor or modular • Proven implementation & support capability • Unparalleled value proposition (Clinical
Slide 38: Thank You
For personal use only THANK YOU