Medical imaging specialist Mach7 (ASX: M7T) has consolidated its position in the lucrative US market by securing Advocate Aurora Health (AAH), one of the largest integrated healthcare networks, on their full suite of medtech software.
The 5-year deal is valued at $4.3m to Mach7 and increases the existing relationship between the two companies with AAH have been so impressed with Mach7’s limited service that they have upgraded to the full suite of clinical ecosystems for image data management.
“I am delighted that AAH continues to expand its partnership with Mach7 to execute their enterprise imaging strategy,” said Mach7 CEO, Mike Lampron, CEO.
“With the Mach7 Vendor Neutral Archive already installed, the eUnity viewing solution will give AAH the ability to access and view any image, anywhere, and serves as another great example of the additional value Mach7 can bring to our customers through the acquisition of Client Outlook.
“This contract is a great start to the new financial year and is a continuation of the strong sales momentum we saw in FY21.”
Under the deal, Mach7’s eUnity Viewer will serve as the universal viewer across multiple departments in the AAH network which comprises 28 hospitals, 500 outpatient locations, and 68 Walgreen’s clinics. Although the majority of locations are within Wisconsin and Illinois, their presence across the two States makes AAH one of the 10 largest not-for-profit integrated health systems in the US.
Globally, the medical imaging market generates more than USD $4.4 billion annually where Mach7 is well positioned to increase its growth initiatives courtesy of a healthy balance sheet.
For the Quarter ended 31 March 2021, Mach7 generated $8.4m in customer receipts with $3.3m positive cash flow and $18m cash on hand. To scale their sales further, the Company recently appointed David Madaffri as its new Senior Vice President of Global Sales having spent the past 12 years in senior roles at Philips Healthcare.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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