A wholly-owned subsidiary of medical imaging company IMEXHS (ASX: IME) has secured a $2 million radiology contract with the National Police of Colombia.
The win is reported to be IMEXHS’ largest contract to date.
Subsidiary IMEXHS RIMAB will provide world-class radiology outsourcing services to approximately 48,000 patients at a new police hospital in Bogota using IMEXHS’ Enterprise software platform.
The software is in the process of being installed at the facility.
The initial 15-month contract also includes a small number of pathology and nuclear medicine studies.
It will require minor investment in capital expenditure as a substantial part of the service will be provided using RIMAB’s existing radiology services infrastructure.
The contract has an automatic renewal provision halfway through and is expected to contribute $1.6m to IMEXHS’ annual recurring revenue (ARR).
Trust and confidence
IMEXHS co-founder and chief executive officer Dr Germán Arango said he was pleased to have secured a deal with the police force.
“This significant partnership highlights the trust and confidence that one of Colombia’s most important institutions places in IMEXHS,” he said.
“It underscores the quality of our radiology services and the advantages offered by our enterprise imaging technology.”
Group hospital contract
Earlier this year, IMEXHS won a five-year contract with Colombia’s Organizacion Clinica General del Norte, which is the first group of hospitals within the Grupo Avidanti – Zentria.
Grupo Avidanti owns and operates a network of 29 hospitals and clinics in the country with over 2700 beds.
Under the terms of the contract, IMEXHS will implement its fully cloud-based, vendor neutral and zero footprint Enterprise software across Organizacion’s 12 sites.
The company will replace numerous legacy systems, integrate with over five Hospital Information Systems (HIS) and will migrate more than 170 terabytes of information.
The work is expected to be completed by early 2024.
There are a further six groups of hospitals (totalling 17 sites) under negotiation across Colombia.
When fully implemented, the additional sites are expected to contribute a further $360,0000 to IMEXHS’ ARR.