IMEXHS (ASX:IME) subsidiary RIMAB has secured a $2 million contract with Colombia’s National Police Force to provide radiology outsourcing services to 48,000 patients. 

Under the terms of the contract, the $25.49 million market capitalisation company will install its Enterprise Software at a new police hospital in the southern region of Bogota. 

IMEXHS says the contract will require some ‘minor’ investment in capital expenditure, as RIMAB will focus on delivering a ‘substantial’ part of the service using its existing radiology services infrastructure. 

The contract will also include a small number of pathology and nuclear medicine studies. 

IMEXHS Chief Executive Officer (CEO) and Co-founder Dr Germán Arango says the Colombian National Police Force contract marks the company’s largest contract to date. 

“This significant partnership highlights the trust and confidence that one of Colombia’s most important institutions places in IMEXHS, which underscores the quality of our radiology services and the advantages offered by our Enterprise Imaging technology.”

“This significant partnership … underscores the quality of our radiology services and the advantages offered by our Enterprise Imaging technology”

This contract is expected to begin immediately and contains an automatic 7-and-a-half-month renewal provision. The initial 15-month agreement will contribute $1.6 million in annual recurring revenue (ARR). 

IMEXHS is a provider of medical imaging software and radiology services in 15 countries, including Colombia, the US, and Australia. As of 30 June 2023, the company had $1.967 million cash and cash equivalents at hand, according to its latest quarterly report. 

Write to Aaliyah Rogan at Mining.com.au

Images: IMEXHS