There is other significant differences between 4DX and PME,...

There is other significant differences between 4DX and PME, which I have never seen discussed. Saying these companies are similar is very deceptive.

If a customer decides to implement Promedicus' solution, they can't trickle it in, trial it and see how it goes then gradually increase their use. Promedicus' main product, visage, competed with other image processing solutions which were already being used. The first customer to choose Pro Medicus chose them as a result of a competitive tender process where pro medicus proved to be better than the competition, and therefore that customer installed Visage as their entire solution for medical image processing. Because it was the entire solution, which was installed in place of the prior solution, it was a significant win and a significantly valuable contract. The pengiun was fully committed to being in the water and all the other pengiuns could stand on the edge and watch what happened, then the other early innovators quickly began to follow suit.

4DX is very different in this respect, there is no requirement for a new customer to fully commit to switching from existing scanning methods to 4DX scans. New customers such as UM can trial the scans, for years, gradually increasing their use for certain use cases as they see fit, as research from clinical trials is published, continuing to use the old tried and tested methods in parallel. I think Visage being strictly a replacement of existing software as oppose to a potential complementary option, makes the nature of the 2 businesses very different. I think it means 4DX will have a much slower start with very low contract values such as that of Uni of Miami where hospitals will only be interested in using the scans for certain conditions which have sufficient published research to show how the scans can be used for diagnosis and tracking how a condition reacts to treatment.

The other significant difference is the fact that promedicus' Visage solution is just a change in the back end, which improves capability of image viewing, but doesnt change the images themselves. The nature of this change makes it a no brainer once it is proven to outperform its competition. Doctors and radiologists dont need to learn any new skills in order to use Visage, their existing skills are just enhanced. Hence why they win every competitive tender they take part in. On the other hand, 4DX are producing very different images than existing technologies. Yes they are far better, show way more detail, less radiation, less time, less patent discomfort, etc. however they require new skills, new standards, doctors can look at an MRI or an XRAY or the results of a biopsy and they know whether to diagnose a patient with a conditions and/or perscribe a certain medication, but when they look at a 4DX scan, even someone who is familiar with 4DX scans probably can't tell you which scan shows CB or COPD and which doesn't. We need detailed reseach on each condition which our scans can detect and monitor. And I am certain that 4DX scans will have WAY higher capability to diagnose lung conditions than existing tech, maybe the MRI looks totally fine and the doc says, "yeah, all's good, go home and get some rest and you will recover" but if they looked at a 4DX scan they would say "You actually have this condition and I can prescribe this medication which will allow you to recover" but at the moment they can't because they have never even heard of 4DX and don't know how to interpret a 4DX scan and nobody will until a heap more clinical research is completed.

This is a very different beast to PME, and I think the story will play out very different to PME for these reasons. I think when Uni of Miami signed that deal many thought it was the first pengiun jumping in the water and others would quickly follow. I think 4DX tried to sell that story as well and hiding the contract value until momentum had already built was very deceptive and manipulative, then the raised capital... In actual fact Uni of Miami are paying for 4 scans a day, i.e. probably they are paying for scans they are completing for research purposes. Currently I suspect these are the only sort of contracts 4DX are eligible for, certainly hoping for a $100m contract is ludicrous