ImExHS secures major Latin American contract utilising its Hiruko platform suite

ImExHS ASX IME Latin American Colombia AI-RAD contract Hiruko
ImExHS has signed a contract with AI-RAD worth around $6.4 million over seven years.

Imaging specialist ImExHS (ASX: IME) has declared that it has secured a major new platform-as-a-service (PaaS) and diagnostic services contract with AI-RAD, a Colombian-based company providing technological services for imaging workflow to a prominent hospital and two clinics in Colombia.

In recent years, ImExHS has become one of the leading companies operating in the Latin American imaging services market, offering flexible and scalable imaging solutions via its Hiruko branded suite of solutions.

The primary focus is to provide the next generation of what’s known as Picture Archiving and Communications Systems (PACS) and integrated Radiology Imaging Systems (RIS).

ImExHS’ Hiruko system is completely cloud-based, vendor-neutral and has a “zero footprint” with no need for installed software.

Hiruko offers enhanced features such as a fully web-based voice recognition option and a low latency DICOM viewer – two advanced features that offer additional benefits to patients.

Furthermore, ImExHS has said that its Hiruko software suite is configurable, flexible, scalable and is readily affordable for radiology centres that require effective imaging.

With the Hiruko suite, AI-RAD will be able to improve the performance and productivity of three sites by interconnecting them through its proprietary platform.

Next generation radiology

The contract with AI-RAD means ImExHS’s Hiruko suite will be tasked with providing all three sites with a “high quality, efficient and standardised process that facilitates efficient imaging”, a service which both parties believe will increase productivity and provide a better service to their patients.

The deal represents the company’s largest contract in its history worth around A$6.4 million over the next 7 years, trumping its previous record set last month when it agreed to modernise Colombian healthcare group Colsubsidio’s radiology facilities with its proprietary imaging and communications system.

Late in October, ImExHS signed the five-year contract with Colsubsidio, estimated to be worth up to $2.82 million.

ImExHS has confirmed that the contract with AI-RAD has been earmarked for a specified maximum number of studies per month, payable monthly over the life of the contract – but will require $900,000 in additional capital expenditure to be made available.

Another parallel caveat to the deal announced this morning is that ImExHS is currently in discussions with “multiple potential 3rd party financiers” for the establishment of a program to fund this and future PaaS contracts.

In addition, ImExHS has said that the ownership of the equipment developed as part of the deal will transfer to AI-RAD upon the conclusion of the contract.

“We are very pleased to announce this contact with AI-RAD which reflects the full business case benefits of our Hiruko platform,” said Dr German Arango, CEO of ImExHS.

“We will provide the opportunity to increase the overall quality of service to AI-RAD’s clients, with enhanced imaging services, reduced costs, and increased productivity across three sites. The contract will also enable us to further develop some of our AI tools and applications,” he added.

George is an award-winning market analyst who has authored articles and editorial opinion pieces for multiple publications around the world. He has written about a wide variety of topics including financial markets, stocks, trading, politics and economics.