Mach7 Technologies Limited announced that it has received a signed sales order from new customer Akumin Inc. The agreement with Akumin involves Mach7's entire Enterprise Imaging Platform including its Vendor Neutral Archive (VNA), eUnity Diagnostic Viewer and Workflow Applications to provide a true cloud-based, enterprise-wide imaging and informatics solution. The capital contract has a ten-year term and a Total Contract Value (TCV) of approximately $16.7 million. Payments will be staged annually across the life of the contract on the 30 December anniversary date with revenue of $7.5 million expected to be recognised in Fiscal year 2023 and annual support fees weighted to the second half of the contract term.

The deal is testament to the wide market appeal and application of Mach7's product suite from smaller, single installation outpatient sites to nationally integrated healthcare organisations. The Company is well progressed in discussions with several large healthcare firms and will update the market where these translate to new contract wins. The needs of Akumin's large teleradiology and radiology reading practices will be met by Mach7 from study ingestion to standardisation and interpretation of data, to workload balancing and assignment, and image-enabled results delivery ­ all in the cloud.

With annual volume in excess of 1.7 million, Mach7's solution will help Akumin to provide its customers with real-time, high-quality results, and develop a range of superior services that provide insightful and useful clinical information to their referring physicians.