Already a subscriber?Rich Listers Sam Hupert and Anthony Hall’s medical imaging software company Pro Medicus has become one of the most expensive stocks in the world.
The ascension of Pro Medicus hinges on the success of its core product Visage, which lets radiologists view reports and large image files, generated by X-rays and other scans, from their mobile devices in seconds, enabling them to make diagnostic decisions remotely., at a time when the Aussie company was trading at less than $1.
Its growth in the last year has outstripped that of other top-performing Rich Lister stocks, including Kerry Stokes’ Seven Group, Richard White’s WiseTech and David Tudehope’s Macquarie Technology Group, which all had good years. There have also been some specific share price drivers in the last year, including a major $140 million contract win with Texas hospital operator Baylor Scott & White, general market enthusiasm for artificial intelligence, and an upgrade from the MSCI Global Small Cap Index to the MSCI Global Standard Index.Mr Wilkie believed contracts as large as Baylor Scott & White would be rare wins for Pro Medicus, but Mr Hupert said there were others of this scale in the pipeline.
“They have lots of levers to pull to extract value from the existing customer base,” Mr Kannourakis, who has a 12-month price target of $93, said.