PRO MEDICUS LTD (PME.AU) experienced a significant price surge of 10.23% during intraday trading on Tuesday, with the stock soaring following the announcement of major new contracts.
The sharp increase comes after the company secured two new US agreements worth a combined A$44 million. The deals include a seven-year, A$16 million cloud-based Visage 7 contract with TidalHealth and a five-year renewal and expansion with Allegheny Health Network across multiple hospitals and clinical sites.
These long-term contracts reinforce Pro Medicus's ability to win and retain major US health system clients, with the Allegheny Health Network renewal particularly notable for expanding the company's footprint across more clinical sites and incorporating cardiology modules and the "Full Stack" cloud bundle at the point of sale.