FY 2021 RESULTS PRESENTATION

August 2021
PRO MEDICUS (ASX:PME)
Healthcare IT company specializing in Enterprise Imaging and
Radiology Information System (RIS) software.

Leading edge products, growing global presence.

EU HQ/R&D
Berlin GmbH

U.S. HQ
San Diego CA

GROUP HQ
Melbourne AUS

OVER 40+ SOFTWARE ENGINEERS

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 ASX:PME

VISAGE RIS VISAGE 7 OEM

PRODUCT SUITE

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RESULTS
FY 2021

$67.9M $30.85M $42.63M 63.2%

Underlying Profit Underlying EBIT
Revenue after tax Profit margins
up 19.5% up 33.7% Before Tax
up 41.0%

$61.8M $0.15
Cash Company Strong Full year
& debt balance dividend FF
Investments free sheet Up 25%
up 42.4%
SALES PIPELINE

FY21 Full Year Continues to grow

STRONGLY

University of
California
$25M/7 years $10M/7 years $18M/5 years $40M/7 years $31M/7 years $14M/8 years
New Contract New Contract New Contract New Contract New Contract New Contract

SEPTEMBER 2020 OCTOBER 2020 DECEMBER 2020 JANUARY 2021 FEBRUARY 2021 MAY 2021

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In Review
2020-2021 Top Hospitals

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FY 2021 Revenue Split
$80,000,000
Full year revenue split
Exam/licence revenue*** Support/baseline revenue*** Capital revenue (net of hardware) Professional Services*** Archive data migration
***Recurring revenue
$70,000,000
$3,413,000

$6,047,000
$60,000,000

$4,609,000

$50,000,000 $17,484,000
$6,464,000
$16,857,000
$40,000,000 $3,049,000

$12,327,000
$4,151,000
$30,000,000
$2,429,000
$10,858,000
$20,000,000 $10,117,000 $40,940,000
$35,355,000
$27,060,000
$10,000,000 $18,863,000
$15,934,000

$-
FY17 FY18 FY19 FY20 FY21
Actual Actual Actual Actual Actual
OPERATONAL (TRANSACTION) MODEL

• Used in vast majority of US contracts

• Delivered as SaaS model
• Now used in RIS contracts in AUS
• Model based on transaction minimums
• Forward revenue > A$320M/5 years*
• Upside as client examination volumes grow
• Annuity style revenue stream – greater predictability
* Assumes key contracts up for renewal are renewed

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EXAM (TRANSACTION) REVENUE

• Recurring in nature
• Increased by 16% YoY (28% on constant currency basis)
• Growth to continue for FY 2022 (Northwestern, NYU, Medstar &
others).
• New Sites coming online in 1st Half FY22 (Intermountain, 2 UC
campuses & UVM)
• Growth from existing clients (organic and M&A) plus new clients
• Further upside with adoption of new products (VISAGE 7 Open Archive
and Worklist)

University of
California

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PROFESSIONAL SERVICES

• Project planning, training & implementation

• Revenue spread over the length of the contract
- new accounting standards (AASB 15)
• Recurring in nature ~ 10% contract value
• Data Migration as part of Visage Archive sale – once off

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OPERATING LEVERAGE

• Highly scalable offering

• No capex (HW) – SW only model
• Training & Installation – charged as professional
services
• Contained cost base
• High operating leverage
• Margin continues to grow as footprint increases

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 COVID-19

• PME/Visage transitioned to WFH in mid-March 2020

• Operating at 100% capacity
• Sales and marketing efforts continued throughout
• “Thinness” of the technology enabled large scale remote
demonstrations
• New opportunities despite COVID restrictions.
• Visage 7 - enables radiologists to seamlessly work from home
• Exam volumes back at or above pre COVID levels

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VISAGE RIS
VISAGE RIS

• Long term (5 year) contracts with Primary Healthcare and

I–MED, the 2 biggest radiology providers in AUS
• HIS (Healius) rollout now complete
• Upside via organic and M&A growth (I-MED)
• Increased market interest – new opportunities
• PME undisputed market leader
Visage 7.0

Continues to be #1 in Speed, Functionality and Scalability.

SPEED FUNCTIONALITY SCALABILITY

MASSIVE DATA EXPLOSION

• High density Multi-slice CT - 10,000+ images

• HD Breast Tomosynthesis - 6 GB+
• Optoacoustic breast ultrasound - 10+ GB
• Total Body PET Scan - 10+ GB
• 7T MRI - much larger than 3T
LEGACY TECHNOLOGY
“Compress and Send”

MODALITIES PACS RADIOLOGIST/CLINICIAN

SOLUTION:

VISAGE 7 Streaming Technology

BACKEND RENDER
SERVER SERVER RADIOLOGIST/CLINICIAN
MODALITIES
NYU LANGONE

• $25 Million over 7 Years

• Voted in the top 10 Hospitals in North America
• Transaction based licensing model with upside
• Teaching hospital for the Grossman School of Medicine
• Implementation completed in June 2021
• Visage to setup new R&D hub in NYC starting August 2021

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LMU KLINKUM - Munich

• $10M – 7-year Deal

• One or Europe’s largest teaching hospitals
• 2nd major hospital contract in Germany
• Visage 7 Viewer and Visage Open archive
• Breaks the mold of “one-stop-shop” modality vendor systems
• Paves the way for further European sales
• Implementation completed December 2020

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ZWANGER PESIRI

• $8.5M -5-year renewal contract

• One of the largest private outpatient groups in the US
• Increased minimum contract value by 70%
• Visage technology key enabler of practice growth
• Validates Visage’s unique value proposition

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MEDSTAR HEALTH

• $18M-5-year deal
• Replaces legacy PACS across 10 hospitals
• Largest health system in the Maryland/ (DC) region
• Contract for all three Visage modules –Viewer, Open Archive
and Workflow
• Visage 7 platform to be fully deployed in the public cloud
• Extends PME’s rapidly growing footprint in the IDN space
• Transaction-based model with potential upside
• Implementation completed June/July 2021

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INTERMOUNTAIN HEALTHCARE

• $40M – 7-year deal

• Largest healthcare provider in the Intermountain West
• Visage to replace legacy PACS across 24 hospitals and
more than 200 clinics
• Contract includes the Visage 7 Viewer and Open Archive
• Visage 7 to be fully deployed in the public-cloud
• Extends PME’s leading position in large, regional health
systems
• Transaction-based model with potential upside

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UNIVERSITY OF CALIFORNIA
HEALTH SYSTEM

• $31M – 7-year deal

• 5 leading academic campuses - UCLA, UCSF, UCSD, UC
Davis and UC Irvine
• Unifying all 5 academic campuses on a single diagnostic
imaging platform
• Visage 7 to be deployed in the public cloud
• Further extends PME’s footprint in tier 1 academic space
• Option for affiliates to adopt the Visage platform
• Transaction based model with potential upside

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UNIVERSITY OF VERMONT
MEDICAL CENTER

• $14M – 8-year deal

• Visage to replace multiple legacy PACS systems
• Visage 7 to be deployed in the public cloud
• Extends PME’s US academic institution footprint
• Transaction-based model with potential upside

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FAST TRACK IMPLEMENTATION

• All implementations on or ahead of schedule

• Fast track methodology continues to deliver
• Large scale projects completed in under 1/4 the time
of industry norm
• Delivers huge savings for client
• Frees PME staff for other jobs
• Reduces barrier to change
• OSU first 100% remote implementation
• New highly optimized hybrid model (onsite + remote)
• A key differentiator of Visage offering

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KEY IMPLEMENTATIONS
FY21

OTHER SITES

August 2020 May 2021 June 2021 June/July 2021 July to April
100% Remote Onsite 100% Remote Hybrid Remote & 100% Remote
Onsite

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VISAGE – PROVEN ROI

Significant IT & Unparalleled Increase in Greater Clinical

Infrastructure Savings Radiologist Efficiency Accuracy

Improved Physician Delivers Superior

Engagement Value Proposition

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VISAGE – Clinical ROI

Improved Physician
Engaement

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 GROWTH STRATEGY

New product
offerings
Transaction growth Extend to new
from existing clients geographical markets

Leverage R&D capability

Expand footprint – to introduce next
new clients generation products

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NORTH AMERICAN PIPELINE

Prospects

Progressing through
Network Effect various stages
of the cycle

Opportunities Increased as a result

of recent high-
profile wins

Last 12 months -
Pipeline Robust significant increase
in number of inbound
RFPs

In terms of quality
and quantity of
opportunities

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VISAGE 7 OPEN ARCHIVE

• Same highly scalable Visage 7 platform

• Interoperable – works in complex environments
• Enables choice of modular or single vendor solutions
• Three recent sales - Viewer and Visage Open Archive
• Pipeline includes Visage Open archive opportunities
• Key component of Visage Cloud strategy
• Transaction based model with potential upside

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Visage 7 WORKLIST

• Adds to V7 Viewer and Archive modules

• Based on over 30 years experience in Worklist SW
• Allows PME to offer single vendor solution
• Integral part of Visage in the Cloud SaaS solution
• Ability to interface with broad range of AI algorithms
• Transaction based model with potential upside

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NEW PRODUCTS ENTERPRISE IMAGING

• Single viewer for ALL images in the

medical record (EMR)
• Radiology/Cardiology (DICOM format)
• Non-radiology– reflected light –
hi-res photos & videos
• VISAGE 7 technology ideally suited
• Increases Visage value proposition
• Growth opportunities within existing
contracts
VISAGE in the CLOUD

• Visage 7 – fully Cloud native

• Same ultrafast performance as on-premise
• Full Visage 7 functionality
• Security and scale of the cloud
• Complete PACS deployment or as backup/disaster
recovery
• Suitable for all size implementations
• Opens new market opportunities
• Significant strategic advantage over competitors

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Visage 7

• Unique end to end solution

• Supports both research and production
environments on a single platform
• Based on market leading Visage 7 technology
• Enables Visage clients to fast-track AI as part of
their imaging strategy

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Visage 7

• Visage Research Server – streamlines AI

algorithm development
• Optimised for AI data curation and validation
• Open API - seamless integration
• AI Ecosystem - 3rd party and Visage developed
algorithms
• Joint development/commercialisation
opportunities - 3rd parties and academic clients.

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AI Research Leadership

Malte Westerhoff
Chief Technology Officer

Detlev Stalling
Head of Development

Ming De Lin
Clinical Research Manager
North America

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(RCA) Research Collaboration Agreements

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 Breast Density - AI

• 1st diagnostic AI algorithm produced by Visage

• Developed in collaboration with breast imaging
team at Yale
• Provides “on the fly” AI assessment of breast
density
• Previewed at RSNA 2019 as WIP
• FDA approval – February 2021
• A model for future AI development

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HIMSS21

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THANK YOU