This healthcare-focused IT company with a market cap of about $100 million pays a dividend and is in a net cash position, allowing it to fund growth opportunities. Its key product is software that lets radiologists view any type of examination in a universal platform, from standard 2D to complicated 3D images, which increases the efficiency of the interpretation and delivery of medical images.
The company’s Visage product is a beneficiary of the growth in size of radiology files as technology provides increased resolution and detailed medical images. A structural shift is occurring in how images are archived and viewed: picture archiving and communication systems are seeing a shift from single vendors to different vendors focusing on the individual components. The Pro Medicus Enterprise viewer is well positioned to benefit from this structural change.
With early success in the very large US market we think Pro Medicus is well positioned to grow strongly as volumes increase with existing clients and new clients adopt the technology.
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