Data management company Mach7 Technologies (ASX: M7T) is set to extend uptake of its enterprise imaging platform after signing one of the largest US customers in its history.
Earlier today, Mach7 unveiled a software and services agreement with Advocate Aurora Health (AAH), an integrated healthcare network headquartered in Milwaukee, Wisconsin.
AAH is one of the 10 largest not-for-profit integrated health systems in the US, encompassing 28 hospitals, 500 outpatient locations and 68 Walgreen’s clinics across the states of Wisconsin and Illinois.
The five-year deal has a contract value of A$5.7 million with A$550,000 per year set to be added to the company’s annual recurring revenue, thereby taking the total under contract to A$8.4 million per year.
AAH has contracted with Mach7 for its enterprise imaging platform to store and manage images across its healthcare network and has also decided to supplement the Mach7 platform, by purchasing a migration engine capable of migrating around 3.5 petabytes of data.
Gearing up for greater performance
Mach7 specialises in developing innovative data management solutions that create a clear and complete view of the patient to inform diagnoses made by health professionals.
Its products are designed to reduce care delivery delays, costs and to improve patient outcomes wherever possible.
Mach7 says its award-winning enterprise imaging platform provides a “vendor neutral foundation” for unstructured data consolidation and communication to power interoperability and enables healthcare enterprises to build their best-of-breed clinical ecosystems.
The core solutions being provided are sophisticated workflow tools, advanced clinical viewing and optimised vendor-neutral archiving solutions that “unlock silos of legacy systems empowering healthcare providers to own, access and share patient data without boundaries”, the company said.
Mach7 declared that the deal is “one of its largest to date within the US” and said that AAH will become one of its largest US customers, thereby demonstrating that it has an increasing influence and share in the US market.
“We are very excited to partner with AAH and look forward to the delivery of our enterprise platform to their institution. This begins the journey towards a true enterprise imaging strategy for AAH and we are honoured to be a part of that journey,” said Mike Lampron, chief executive officer of Mach7.
Changes at the top
In parallel to its expansive market operations, Mach7 has also made steps to reshuffle its internal structure by transitioning Damien Lim from the role of board chair to become a non-executive director.
Meanwhile, existing non-executive director David Chambers was recently appointed to the role of chair.
Furthermore, just last month Mach7 announced that Mike Lampron, who was appointed as interim chief executive officer on 11 March 2019, was named as managing director.
According to Mach7, the chair role change was “the first step of a planned board renewal process” and that the company is continuing to assess its composition to ensure it has the appropriate mix of skills, experience and diversity best suited to taking the company forward.
In terms of future appointments, Mach7 plans to conduct a search for an additional director with deep healthcare/IT experience to join the Mach7 board, with a confirmed appointment set to be announced later this year.