Renewal of 3-Year Subscription Agreement between Mach7 Technologies and DocPanel

Mach7 Technologies Limited (ASX: M71) has announced a significant milestone with the renewal of a 3-year subscription agreement with DocPanel, the largest radiology marketplace in the US. This agreement includes using Mach7’s Enterprise Imaging Platform and eUnity Diagnostic Viewer. The renewal program in FY24 has been highly successful, reflecting Mach7’s “land and expand” strategy. The agreement with DocPanel has a total contract value of AU$1 million and will generate Annual Recurring Revenue (ARR) of approximately AU$0.6 million. This represents a significant increase in ARR compared to the previous contract.

The agreement is for a three-year subscription license with a minimum fixed fee. It became effective on 1 April 2024 and offers potential upside if volume exceeds current contract minimums. This renewal sets the stage for continued growth and success in the future.

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