Mach7 Technologies (ASX:M7T) receives new orders from existing customers – The Market Herald

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  • Mach7 Technologies (M7T) Receives New Orders from Existing Customers Trinity Health and Penn State Milton S. Hershey Medical Center
  • Trinity Health has signed a statement of work surrounding the first wave of deployment of its unified clinical imaging platform
  • This will see Mach7’s Enterprise Imaging Platform, Universal Worklist, eUnity Enterprise Viewer and eUnity Diagnostic View implemented at Trinity facilities across Michigan.
  • Additionally, Penn State signed contract renewal and license extensions for the Mach7 enterprise engineering platform
  • Mach7 ends the day with a slight 0.68% in the green with shares trading at 74 cents

Mach7 Technologies (M7T) received new orders from existing customers, Trinity Health and Penn State Milton S. Hershey Medical Center.

Trinity Health has signed a statement of work that surrounds the first wave of deployment of its unified clinical imaging platform.

This platform will see Mach7’s Enterprise Imaging Platform, Universal Worklist, eUnity Enterprise Viewer, and eUnity Diagnostic View have been implemented at Trinity’s Southeast Michigan facility.

The statement of work has a total contract value of $900,000 which Mach7 will recognize as service revenue by FY23.

Devices will be deployed in waves and once all waves are fully deployed, The Mach7 solution will be available in 92 hospitals in 22 states.

Penn State has signed a contract renewal and license extensions for the Mach7 enterprise engineering platform.

The renewal is for two years and will cover 575,000 procedures per year while the extensions include one to increase volumes at Penn State’s current site and the other to expand to a new site.

The total value of the contract is $1.5 million, including $1.1 million of capital software revenue to be recognized in FY22 and $400,000 of support revenue to be recognized in FY22. by March 2023.

“I am delighted to see the continued adoption and growth of our current customers. This speaks to the value of our products and the strength of our relationships,” said CEO Mike Lampron.

“The Mach7 solution will provide a solid core to Trinity Health’s unified clinical imaging
Platform Strategy, and Penn State has used Mach7 for years to handle high volumes of imaging procedures.

Mach7 ended the day a slight 0.68% in the green with shares trading at 74 cents in a market cap of $175.1 million.