Mach7 Technologies kicks-off new year with $16.7m enterprise imaging platform order
Mach7 expects to recognise $7.3 million in revenue in FY2023 as part of the contract.
Medical imaging software solutions provider Mach7 Technologies (ASX: M7T) has kicked off the new year with a $16.7 million order for its enterprise imaging platform from NASDAQ-listed outpatient radiology service provider Akumin Inc.
The 10-year contract will see Akumin consolidate its multiple picture archiving and communication systems into a common enterprise solution offered by Mach7’s cloud-based platform.
This package includes Mach7’s vendor neutral archive (VNA), eUnity diagnostic viewer and workflow applications to provide Akumin with an enterprise-wide imaging and informatics solution.
Under the terms of the deal, Akumin will make staged annual payments every December across the life of the contract.
Mach7 said revenue of $7.5 million would be recognised in the 2023 financial year and annual support fees weighted to the second half of the contract term.
Wide market appeal
Mach7 chief executive officer Mike Lampron said the Akumin deal is testament to the wide market appeal and application of the company’s product suite from single-installation outpatient sites to nationally-integrated healthcare organisations.
“Our vendor-agnostic, easily-integrated product suite and migration services were key requirements for the massive data ingestion and consolidation associated with Akumin’s cloud-focused radiology ecosystem,” he said.
“This deal increases our exposure to the fast-growing outpatient radiology market and demonstrates that our technology appeals to customers across the size spectrum.”
Radiology and oncology solutions
Headquartered in Florida, Akumin specialises in fixed-site outpatient radiology and oncology solutions and is a partner of choice for a network of US hospitals, health systems and medical groups.
The company has a network of 234 owned and operated centres; a mobile division with 300 semi-trailers; and offers outpatient radiology and oncology solutions to approximately 1000 hospitals and health systems across 48 states.
Mr Lampron said Akumin combines clinical and operational expertise with the latest advances in technology and information systems to deliver “patient-centred innovation, service standardisation and exceptional healthcare value” to its patients and partners.
“Our solution will help Akumin provide its customers with real-time, high-quality results, and develop a range of superior services which provide insightful and useful clinical information to referring physicians,” he said.