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PME, PRO MEDICUS LIMITED
nipper
post Posted: Oct 23 2020, 12:11 PM
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Matthew Kidman (Livewire Markets) : A happy hold. We have not had that before. Okay, medical imaging, global leader, Pro Medicus, been a juggernaut. Buy, hold, or sell?
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Catherine Allfrey (WaveStone Capital): I am going to go hold on that one. They are hinting at the fact that they have got more hospital contracts lined up. It is very expensive again in terms of the multiples that it trades on, but it is early on in its penetration story. It has got seven of the top 20 hospitals in the US now signed up, which is obviously a positive. It is very well managed company. It has been very successful, but it is a ritzy multiple.

Matthew Kidman (Livewire Markets) : Who would have thought? Little company out of Melbourne, took on the world and now it leads imaging in radiology. Buy, hold or sell?
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Jason Kururangi (Aberdeen Leaders): I am going to go with a buy on that. Look again, Pro Medicus, I actually can not say anything different to Catherine. Maybe just we are taking a slightly longer term frame of thinking on the valuation. We think that there is significant upside as they keep rolling out contracts with additional hospitals. And, again, we are happy holders of the stock we've been accumulating over the last six months. So definitely [we] like the story.



33 bucks




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 24 2020, 04:50 PM
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27 bucks. Selloff did not last long when the results came out
https://arichlife.com.au/pro-medicus-asx-pm...y-2020-results/
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Yesterday, Pro Medicus shares dropped as much as 7.5% on delivering its results for FY 2020. While the record profit of $23 million was an increase of about 20% on the prior year, the second half profit was actually down on the immediately preceding half. Happily, free cash flow was very strong at $23.7m and the company finished the year with cash reserves of $43.4 million.

The main reason for the reduced half-on-half profit was the impact of the coronavirus pandemic, which the company estimated reduced second half profit by $1.2m. Without that impact, the second half would have been mildly better than the first half, but not a lot better.
However, there were a number of drivers of lower profit growth in FY 2020 compared to FY 2019. The biggest single reason was that the company received a $3m point in time payment for a German installation in FY 2019, and this was not repeated in FY 2020.

Comparing the first and second halves, European and Australian revenue was largely flat, half-on-half, while the biggest hit was felt in the USA, where sales actually dropped for the first time since 2018.


and he has a say
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...At the current price of around $24.50, Pro Medicus trades on a price to earnings ratio of 110. This implies that it can at least 5x its profit before reaching maturity, preferably in the next few years. Given the nature of its business, Pro Medicus does receive system growth even once mature, but clearly it will need to increase its number of customers by 3x or 4x. On the conference call, CEO Sam Hupert said that they were far from saturating their market and were closer to the beginning than the end. This implies that there is at least a 2x gain possible in terms of image viewing customers, but I would hope it would be more than that. In any event, we can reasonably expect some uplift from the open archiving product, and if it were a priority Im sure they could build out the RIS product for a north American customer base.

In terms of costs, I think the company will be in a good position as the world undergoes the digital transformation even faster, and it should end up saving on marketing costs as the big RSNA conference it attends will be online this year.

.





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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 24 2019, 09:42 AM
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Pro Medicus share price is up more than 177 per cent this year as shareholders back the company’s strategy of pushing sales of their diagnostic imaging systems into the US, where key contracts have been won in the past year.

Pro Medicus now has market capitisation of more than $3.1 billion. The company entered the S&P/ASX 200 on August 7.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Sep 9 2018, 03:40 PM
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Without much fanfare, Nearmap NEA and ProMedicus PME have built global software platforms that are far more advanced than the products offered by their competitors. They have successfully targeted expansion in the United States with business models that lock in annuity-style revenue.

The two companies have much in common. Both are offering customers innovative ways of viewing images. Nearmap offers images of the earth collected by aircraft while Pro Medicus allows doctors to manage images of the body...

... To get an idea of the growth prospects consider the numbers being pumped out by broking analysts. Pro Medicus is on track for 27 per cent compound annual growth in revenue from its patented picture archiving and communication system between 2014 and 2021, according to Peter Meichelboeck, analyst at Select Equities.

One avid believer in Pro Medicus reckons it is the next CSL. But Pro Medicus chief executive Sam Hupert says that might be a sign of the market getting a little ahead of itself.

Nevertheless, Hupert is bullish about his company's prospects. Its 2018 result included a comment that its contract opportunities had never been higher.

Pro Medicus business model involves signing long term contracts with leading hospitals and clinics. It gets paid to implement its software and it then agrees to minimum usage of its imaging software based on the number of transactions. Clients agree to pay for a minimum number of transactions each year and pay extra for anything beyond that.

It is extraordinary that the software at the heart of the Pro Medicus product offering was developed in Germany and the US at a cost of about $US45 million before being bought by Pro Medicus for about $6 million in 2009.

This opportunistic purchase was a combination of strategic insight and good luck when a large company failed to see the value of its own assets.

The key owners of stock in the company are Hupert and Anthony Hall. Each owns about 30 per cent of the company. They sold down about 3 per cent of the company but look to be in for the long haul.
https://www.afr.com/brand/chanticleer/early...20180907-h15384

- met Hubert in about 2001.... Gee, it's been a long haul!



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jan 16 2018, 03:03 PM
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Health tech minnow Pro Medicus makes big US splash
QUOTE
Pro Medicus has muscled its way into the US, beating global giants to secure sought-after contracts in a health technology industry that boss Sam Hupert says Australia could learn a lot from. Melbourne-based Pro Medicus, which also has offices in Berlin and San Diego, makes software that allows large healthcare institutions to store and transport images.

Dr Hupert, who started the Australian-listed company in the early 1980s, said the past four years had been transformational for Pro Medicus, driving the share price from below $1 to more than $8. Dr Hupert said the "step change" in the company started to take shape in late 2007 when he decided to target a company that did digital imaging. "We had the billing side but we interfaced to third parties for the visualisation display of the image."

In February 2009, in the depths of the global financial crisis, Pro Medicus bought Visage Imaging, giving the company an important footprint in the US and the backing to compete for contracts against dominant giants such as Siemens, GE and Phillips. Dr Hupert said when the company won its first significant contract in the US there were many sceptics who believed the company was too small and could not deliver on the contract.

"We have proven them all wrong and we have gone further, faster, than most people have imagined in the US," Dr Hupert said. "We have built a portfolio of key clients. Normally you would have to be in the market for 10 years before these companies would look at you. We defied that philosophy by getting the clients we have."

US clients include the globally recognised Mayo Clinic and Yale New Haven Health, which is affiliated with Yale University and Yale Medicine. Pro Medicus could have missed the US opportunity, with Dr Hupert highlighting that when he first saw Visage, he almost walked past it because it was a specialty product, largely focused on 3D imaging.

"We spent a fair amount on R&D, developing it from a speciality product to a total product, and clearly that has made a huge difference."

Dr Hupert said his company had about an 18-month, or longer, technology lead on some rivals. "It's that original platform we have that we have been able to develop that others have not been able to. It's not just one technology, it's an amalgamation of 15 to 20 technologies."

When Dr Hupert started his career as a doctor, he says the word computer was rarely used, but he had an early sense it would become the new form of literacy. The initial product his company offered clients was for practice management, such as billing, which was targeted to deal with the nuances of Medicare and billing requirements in Australia.

Dr Hupert expanded the system into radiology in the late 1980s, giving it first-mover advantage when that industry then moved from hard copy to a digital environment in early 2000.

"We realised there would need to be a link between business management, patient scheduling and reporting on screen, and tying the them all together," he said. "We provided one of the first single-button, single-click type environments, where the client clicked on a patient's name and all the images and past reports on radiology came up at once."

The US success has given Dr Hupert an insight into the industry there. He said compared to Australia, the global powerhouse had leapt ahead in this field. That was partly because the US government effectively mandated that large health providers had an enterprise medical record.

"Australia has to play catch-up there. There are plenty of Australian companies that have this great technology that can be used in Australia; it's a shame that we tend to work more overseas than here," he said. "The technology is available, there's no reason, other than funding and bureaucracy, as to why those technologies wouldn't work in Australia."
http://www.theaustralian.com.au/business/h...8aa281450615362



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: May 13 2016, 01:48 PM
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90c to $4.70 in the last 18 months

Pro Medicus Limited (PME) is an imaging IT provider. The company provides a full range of radiology IT software and services to hospitals, imaging centres and health care groups worldwide. The company offers a suite of RIS, PACS and e-health solutions constituting a comprehensive end-to-end offering in radiology. Pro Medicus has global offices in Melbourne, Berlin and San Diego.

QUOTE
Medical imaging company Pro Medicus has been one of the strongest stocks on the ASX in the past few months and analysts and fund managers believe it has plenty more upside.The $450 million company, which has been listed since 2001, has largely flown under the radar, but has impressed investors lately with a number of major contract wins.

Select Equities director Mark Southwell-Keely said the company was one of the few "genuine success stories", out of the small cap technology stocks on the ASX.

"The smart money does know about this company's story," he said. "One of the things the company does not need to do though is raise capital, so it doesn't attract as much coverage." "Its technology is a quantum leap ahead [of other radiology image viewing techniques]."

The stock has risen almost 60 per cent to $4.45 since March, while the broader market has gained about 9 per cent. In that time Pro Medicus has signed a $21 million contract with Mercy Health and a $7 million deal with US-based Franciscan Missionaries of Our Lady Health System, which have potential to be worth more.

The Melbourne-based company is enjoying a strong tailwind from the increased digitisation of imaging software and the ageing population, but it's the company's ability to gain traction in the US market that has UBS portfolio manager Joel Fleming feeling bullish.

"Across the board it's really hard to find growth in the market at the moment. Most economies are under pressure and finding businesses that are growing by taking market share or creating a new market is tough. But Pro Medicus is growing independently of what's happening in the Australian economy," he said.

"It's also competing with some very large multinationals, so the fact they've gained traction in the US market is huge ... it gives us confidence that the market is taking this product up ... and that makes the next sale easier."
AFR

& from last year http://www.abc.net.au/news/2015-10-05/extended-interview-with-pro-medicus-founder-dr-sam/6829128




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: grevillia  
 


malta
post Posted: Nov 9 2008, 05:03 PM
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I am interested in this company but would like to know what competition it has.
Does it have an economic moat, patent etc?
Would be very interested to get opinions.
Cheers

 
dr_dazmo
post Posted: Oct 31 2007, 11:57 AM
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I understand that the agreement with Agfa expires relatively soon.
Anyone know if this will be renewed?

Dr_Dazmo




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Always remember the Golden Rule - Those with the Gold make the Rules!
 
oracle
post Posted: May 1 2007, 08:48 PM
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PME having another crack at trying to go up, although previous attempts over the last year have failed to develop any momentum at all.

I'll live in hope...maybe this time...sigh.





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oracle
 
Costa
post Posted: Feb 27 2007, 05:32 PM
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I'm reasonably happy with the interim results announced today. PME has managed to maintain solid growth and appears to be doing quite well in the US markets. Also, as announced trading is biased towards the second half so looks as though they are on track to at least achieve their target of 15% year on year growth.

 
 


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