M7T 0.83% 59.5¢ mach7 technologies limited

Ann: Market Update-M7T.AX, page-9

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    Probably not long till we find out about this one too... It's massive! 650,000 in first 12 months.

    Melbourne, Australia; 6 May 2016: Mach7 Technologies Limited (Mach7) (ASX:M7T) today announced that it has successfully completed a pilot program with a leading U.S. radiology group of Mach7 Enterprise Imaging Platform and is commencing roll-out to all remaining sites within the group.
    Completion of the pilot program involved Mach7 working with its integration partners on the multi-site installation and validation of more than 30 functional specifications of the Enterprise Imaging Platform.
    With the pilot program complete and software successfully implemented at the initial sites, the Company is now working to roll-out Mach7 Enterprise Imaging Platform in all 25 sites for this radiology group, displacing their legacy vendor neutral archive (VNA) vendor.
    The radiology group is one of the oldest and most experienced providers of anesthesiology, neonatology, emergency medicine and radiology services to hospitals and medical facilities across the U.S., generating more than US$185mm revenues per annum.
    Under the terms of the agreement, Mach7 is unable to disclose the identity of the radiology group until the full production roll-out has been completed and the system is live. Mach7 will earn a monthly subscription-based fee levied on each study managed by the Enterprise Imaging Platform for at least the next three years. The subscription revenue expected in the first 12 months is approximately A$650,000 (US$500,000). The subscription based revenue model ensures a guaranteed revenue annuity over a period of time and therefore provides an important source of regular cash flow for Mach7.
 
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